DelphX launches private placement targeting up to C$50,000

DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) has announced a non-brokered private placement of up to 5,000,000 units at C$0.01 per unit, seeking gross proceeds of up to C$50,000.

Each unit consists of one common share and one warrant, with each warrant allowing the holder to purchase one additional common share at C$0.06 for a period of two years from issuance.

The company said it intends to use net proceeds for working capital and corporate overhead, with no more than 10% of gross proceeds allocated to investor relations activities.

DelphX may pay finder's fees to eligible finders in accordance with TSX Venture Exchange policies, with details to be disclosed at a later date. The offering is subject to TSX Venture Exchange approval. Securities issued will carry a hold period of four months plus one day from the date of issuance and, given the unit price is below C$0.05, will also be subject to the Exchange Hold Period.

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