DelphX Capital Markets closes C$218,000 private placement

DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) announced the closing of its non-brokered private placement, issuing 4,360,000 units at C$0.05 per unit for gross proceeds of C$218,000.

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

The offering requires approval from the TSX Venture Exchange. Securities issued will be subject to a hold period of four months plus one day from the issuance date.

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

DelphX describes itself as a technology and financial services company developing structured products. Through its special purpose vehicle Quantem LLC, the company enables broker dealers to offer private placement securities for fixed income and cryptocurrency solutions.

The company's products include collateralized put options that provide protection for corporate bonds and cryptocurrency holdings, and collateralized reference notes that enable investors to take on rating downgrade and cryptocurrency loss exposure for returns. All products are held in custody by US Bank.

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