DelphX plans C$112,000 private placement and warrant extension

DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) announced plans for a non-brokered private placement offering of 2.8 million units at C$0.04 per unit, targeting gross proceeds of C$112,000. Each unit consists of one common share and one warrant exercisable at $0.07 for two years from issuance.

The offering requires approval from the TSX Venture Exchange. Securities issued will be subject to a four-month hold period plus one day from the issuance date. The company stated it intends to use net proceeds for general corporate purposes.

DelphX also announced plans to seek exchange approval to extend the exercise period of 5,422,221 existing warrants by one year to December 7, 2026. These warrants, originally issued in December 2022, are exercisable at $0.15 per share. All other warrant terms will remain unchanged.

The warrant extension involves 1,611,111 warrants held by related parties, making it a related party transaction under regulatory guidelines. The company stated it can rely on exemptions from formal valuation and minority approval requirements as the fair market value of the warrants does not exceed 25% of DelphX's market capitalization.

DelphX operates as a technology and financial services company developing structured products through its special purpose vehicle Quantem LLC. The company enables broker dealers to offer private placement securities including collateralized put options and collateralized reference notes for fixed income and cryptocurrency solutions.

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