DelphX closes C$120,000 private placement offering

DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) announced it has closed a non-brokered private placement that raised C$120,000 in gross proceeds. The company issued 3 million units at C$0.04 per unit.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional common shares at C$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 four-month-plus-one-day hold period from the issuance date.

DelphX stated it plans to use the net proceeds for working capital and corporate overhead expenses.

The company develops structured financial products through its special purpose vehicle Quantem LLC. DelphX offers collateralized put options that provide protection against corporate bond rating downgrades and cryptocurrency losses, as well as collateralized reference notes that allow investors to take on capped exposure to rating downgrades or cryptocurrency losses in exchange for returns.

All products are held in custody by US Bank, according to the company's statement.

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