/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
TORONTO, May 3, 2019 /CNW/ - DelphX Capital Markets
Inc. (TSXV: DELX) ("DelphX") announced today that
it intends to proceed with a non-brokered private placement (the
"Offering") of 9,077,500 units (the "Units") at a
subscription price of C$0.20 per
Unit, for gross proceeds of C$1,815,500. Each Unit will consist of one
common share ("Common Share") of DelphX and one share
purchase warrant ("Warrant"). Each Warrant will
entitle the holder to purchase one Common Share at a price of
$0.30, for a period of 2 years from
the date of issue. The Offering is fully-subscribed and no
further Units will be issued.
In connection with the Offering, DelphX may pay to eligible
finders, cash finder's fees of up to 7% of the gross proceeds
received and may issue finders' warrants (the "Finders'
Warrants") of up to 7% of the Units placed. The Finders'
Warrants will be exercisable at $0.30
each for a period of 2 years after issuance.
Completion of the Offering is subject to the approval of the TSX
Venture Exchange. The securities issued pursuant to the Offering
will be subject to a hold period of four months and a day from the
date of closing.
The Units have not been registered under the U.S. Securities Act
of 1933, as amended, and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements. This press
release does not constitute an offer to sell or the solicitation of
an offer to buy the securities herein described, and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction.
DelphX intends to use the net proceeds from the Offering for
working capital and general corporate purposes.
About DelphX:
DelphX is a technology and financial services company focused on
optimizing credit markets. Its Cloud-based technology, actuarial
science and reinsurance protocols enable fixed income dealers to
offer new Rule 144A securities that optimally transfer and 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
- 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.
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 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.
SOURCE DelphX Capital Markets Inc.