DelphX completes C$250,000 private placement of 5 million units

DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) announced it closed a non-brokered private placement of 5,000,000 units at C$0.05 per unit, raising gross proceeds of C$250,000.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase one common share at $0.08 within two years of issuance.

Company insiders participated in the offering by subscribing for 200,000 units. The transaction qualifies as a related party transaction under Multilateral Instrument 61-101 and TSXV Policy 5.9. DelphX relied on exemptions from formal valuation and minority approval requirements because the fair market value and cash consideration for insider participation did not exceed 25% of the company's market capitalization.

The TSX Venture Exchange has conditionally accepted the offering, with completion subject to customary requirements and final exchange approval. The securities will be subject to a four-month-plus-one-day hold period from the issuance date.

DelphX stated it intends to use the net proceeds for general corporate purposes.

The company develops structured products through its special purpose vehicle Quantem LLC, enabling broker dealers to offer private placement securities for fixed income and cryptocurrency solutions. Its products include collateralized put options for rating downgrade and cryptocurrency loss protection, and collateralized reference notes that allow investors to take capped exposure to underlying securities or cryptocurrencies.

The information is based on a company press release.

You May Also Be Interested In

• Nuvectis Pharma (NVCT) files $200M mixed shelf
• HSBC Downgrades China Power International (2380:HK) (CPWIF) to Hold
• UBS Upgrades Apollo Tyres (APTY:IN) to Buy