DelphX plans private placement to raise C$60,000

DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) announced plans to conduct a non-brokered private placement of 1,200,000 units at C$0.05 per unit, targeting gross proceeds of C$60,000.

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.

The company stated it intends to use net proceeds for general corporate purposes.

DelphX develops structured financial products through its special purpose vehicle Quantem LLC. The company creates collateralized put options and collateralized reference notes for qualified institutional investors, providing bond rating downgrade protection and cryptocurrency-related investment solutions.

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