DelphX Announces Private Placement of Up to 7 Million Units
News related to:DelphX Capital Markets Inc · 2 min read
DelphX Capital Markets Inc., a leader in the development of new structured products, has announced a non-brokered private placement of up to 7,000,000 units, each priced at C$0.01, for a total gross proceeds of up to approximately C$70,000. The units consist of one common share and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at an exercise price of C$0.06 for a period of two years from the date of issuance. The company aims to close the Offering on or before October 26, 2026.
The funds raised will be used for working capital and corporate overhead, with no more than 10% of the gross proceeds allocated to investor relations activities. The securities issued will be subject to a hold period of four months plus one day from the date of issuance, and as the units are priced at less than C$0.05 per unit, they will be subject to the TSX Venture Exchange's hold period and legended accordingly.
DelphX intends to use the net proceeds for general corporate purposes, focusing on its core activities in developing and distributing the next generation of structured products. Through its special purpose vehicle, Quantem LLC, the company enables broker dealers to offer new private placement securities that provide for both fixed income and cryptocurrency solutions.
The company's common shares are currently quoted on the OTC Pink market under the symbol "DPXCF," but DelphX does not intend to maintain this quotation. The DPXCF quote may end in the coming months, and shareholders who hold their shares through a US brokerage account are advised to contact their broker about transferring their position to an account that can trade on the TSX Venture Exchange.
The Offering is subject to the approval of the TSX Venture Exchange, and the securities issued will be subject to a hold period of four months plus one day from the date of issuance. DelphX Capital Markets Inc. is focused on expanding its product offerings, including collateralized put options (CPOs) and collateralized reference notes (CRNs), which are fully collateralized and held in custody by US Bank.