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DelphX Announces Closing of Non-Brokered Unit Private Placement
Newsfileยท 2025-10-08 12:56
Group 1 - DelphX Capital Markets Inc. has closed a non-brokered private placement, issuing 1,500,000 units at a subscription price of C$0.05 per unit, resulting in gross proceeds of C$75,000 [1] - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of one common share at a price of $0.08 for two years [1] - An insider subscribed for 1,000,000 units, classifying the offering as a "related party transaction" under MI 61-101, but exemptions were relied upon as the transaction did not exceed 25% of DelphX's market capitalization [2] Group 2 - DelphX will pay cash finder's fees of $3,500 and issue 70,000 finder's warrants to AlphaNorth Asset Management, with the finder's warrants exercisable at $0.08 for two years [3] - The completion of the offering is subject to TSX Venture Exchange approval, and the securities will be under a hold period of four months plus one day from issuance [3] Group 3 - The net proceeds from the offering will be used for general corporate purposes [4] - DelphX focuses on developing and distributing next-generation structured products, including collateralized put options (CPOs) and collateralized reference notes (CRNs) [5][7] - CPOs provide secured rating downgrade protection for corporate bonds and cryptocurrency holdings, while CRNs offer capped exposure to rating downgrades and cryptocurrency losses in exchange for attractive returns [7]