Business
DelphX Announces Amended Pricing to Its Unit Financing
Toronto, Ontario--(Newsfile Corp. - March 23, 2020) - DelphX Capital Markets Inc. (TSXV: ...
About this update from Delphx Capital Markets, Inc.
[{"type":"text","content":"DelphX Announces Amended Pricing to Its Unit FinancingToronto, Ontario--(Newsfile Corp. - March 23, 2020) - DelphX Capital Markets Inc. (TSXV: DELX) (\"DelphX\") announced today that it has amended the price of its previously announced unit financing (the \"Offering\"). The Offering has been repriced at $0.06 per unit (\"Unit\"), together with changes to warrant expiry and exercise price.The amended pricing results in an Offering of up to 8,333,333 Units, for up to gross proceeds of up to C$500,000. 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 $0.08, for a period of 5 years from the date of issue.In connection with the Offering, DelphX may pay to eligible finders cash finders' fees of up to 7% of the gross proceeds received and may issue up to 583,333 finders' warrants (the \"Finders' Warrants\"). Each Finders' Warrant will be exercisable to purchase one Common Share at a price of $0.06, for a period of five years after closing of the Offering. 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 plus one day from the date of issue.The Common Shares of DelphX 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 e...