DelphX plans private placement to raise C$150,000

DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) announced plans for a non-brokered private placement of up to 3 million units at C$0.05 per unit to raise gross proceeds of C$150,000.

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

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. Company insiders may participate in the offering under DelphX's insider trading policy.

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

The Toronto-based company develops structured financial products through its special purpose vehicle Quantem LLC. DelphX enables broker dealers to offer private placement securities that provide fixed income and cryptocurrency solutions to qualified institutional investors.

The company's products include collateralized put options that provide protection against corporate bond rating downgrades and cryptocurrency losses, and collateralized reference notes that allow investors to take capped exposure to rating downgrades and cryptocurrency losses in exchange for returns. US Bank holds all products in custody.

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