- DelphX (DELX) announced a private placement for gross proceeds of C$580,200
- The company will issue 4,835,000 units at a subscription price of $0.12 per unit
- Net proceeds will be used for working capital and general corporate purposes
- DelphX is a technology and financial services company
- DelphX Capital Markets Inc. (DELX) opened trading at C$0.14
DelphX (DELX) announced a private placement for gross proceeds of C$580,200.
Under the offering, the company will issue 4,835,000 units at a subscription price of $0.12 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.20 for a period of two years from the closing of the offering.
Insiders participated in the offering, subscribing for 114,000 units.
In connection with the offering, DelphX will pay cash finder’s fees of $9,000 and issue 75,000 finders’ warrants to AlphaNorth Asset Management, an eligible finder.
Completion of the offering is subject to the approval of the TSX Venture Exchange. The securities issued will be subject to a statutory four-month hold period.
Net proceeds will be used for working capital and general corporate purposes.
About DelphX Capital Markets Inc.
DelphX is a technology and financial services company that develops and distributes structured products. Through its special purpose vehicle Quantem LLC, the company enables fixed-income dealers to offer new private placement securities that transfer and diffuse credit risk while enhancing yield.
DelphX Capital Markets Inc. (DELX) opened trading at C$0.14.