NEW YORK, Feb. 7, 2019 /CNW/ -- DelphX
Capital Markets Inc. (TSXV:DELX)
("DelphX") today announced that it has agreed with a
number of its vendors to pay non-cash payments, in the collective
form of 1,035,294 newly-issued DELX common shares (the "Shares") at
a price of $0.34 per share, pending
approval by the TSX Venture Exchange. The Shares will be subject to
a 4-month-plus-1-day hold period from the date of
issuance.
Issuance of the Shares will not create a new Control Person, and
will increase the total number of common DELX shares outstanding to
81,748,670 with no preferred shares outstanding.
About DelphX:
DelphX is a technology and financial services company focused on
optimizing fixed income markets. Its Cloud-based platform employs
distributed ledger technology, actuarial science and reinsurance
protocols to enable fixed income dealers to offer new Rule 144A
securities that optimally diffuse credit risk. The new
DelphX platform will be regulated by the SEC and enable
dealers to competitively structure, sell and make markets in:
- Covered Put Options (CPOs) that provide secured default
protection for underlying corporate, municipal and sovereign
securities, with each CPO strike-price equaling the par value of
its underlying security; and
- Covered Reference Notes (CRNs) that enable credit
investors to take on the default exposure of a single underlying
security or optionally participate in a pool of diversified risks
that broadly diffuses the impact of credit events.
All CPOs and CRNs will be collateralized by investment grade
assets held in custody by an independent custodian and
transparently administered within DelphX's immutable distributed
ledger. A traditional book-entry record of each security will also
be maintained in parallel by an independent issuing and paying
agent to provide additional transparency and efficiency.
For more information about DelphX, please visit
www.delphx.com.
Forward-Looking Statements
This news release contains certain "forward-looking statements"
including, without limitation, statements regarding the launch of
the DelphX platform. Such forward-looking statements involve risks
and uncertainties, both known and unknown. The results or
events depicted in these forward-looking statements may differ
materially from actual results or events. In addition to other
factors and assumptions which may be identified herein, assumptions
have been made regarding and are implicit in, among other things:
the state of the capital markets, tax issues associated with doing
business internationally, the ability of DelphX to successfully
manage the risks inherent in pursuing business opportunities in the
financial services and Blockchain industry, and the ability of
DelphX to obtain qualified staff, equipment and services in a
timely and cost-efficient manner to develop its business. Any
forward-looking statement reflects information available to DelphX
as of the date of this news release and, except as may be required
by applicable securities laws, DelphX disclaims any intent or
obligation to update any forward-looking statement, whether as a
result of new information, future events or results or
otherwise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE DelphX Capital Markets Inc.