DelphX plans C$50,000 private placement at C$0.04 per unit

DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) announced plans to conduct a non-brokered private placement of 1,250,000 units at C$0.04 per unit, seeking to raise gross proceeds of C$50,000.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase one common share at C$0.06 for two years from the issuance date.

The offering requires approval from the TSX Venture Exchange. Securities issued will be subject to a four-month-plus-one-day hold period from the issuance date.

The company stated it intends to use net proceeds for working capital and corporate overhead expenses.

DelphX develops structured financial products through its special purpose vehicle Quantem LLC. The company creates collateralized put options that provide downgrade protection for corporate bonds and cryptocurrency holdings, as well as collateralized reference notes that allow investors to take on capped exposure to rating downgrades and cryptocurrency losses in exchange for returns.

The products are held in custody by US Bank and are proprietary to DelphX Capital Markets.

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