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DelphX Announces Non-Brokered, Unit Financing
DelphX Announces Non-Brokered, Unit Financing Canada NewsWire TORONTO, March 12,...
About this update from Delphx Capital Markets, Inc.
[{"type":"text","content":"\n\n\n\nDelphX Announces Non-Brokered, Unit Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 12, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n TORONTO, March 12, 2020 /CNW/ - DelphX Capital Markets Inc. (TSXV: DELX) (\"DelphX\") announced today that it intends to proceed with a non-brokered private placement (the \"Offering\") of up to 10,000,000 units (the \"Units\") at a subscription price of C$0.05 per Unit, for 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 $0.10, for a period of 2 years from the date of issue provided that in the event the closing price of the DelphX's Common Shares on the TSX Venture Exchange is equal to or greater than $0.50 per share for 20 consecutive trading days at any time following closing of the Offering, DelphX may reduce the remaining exercise period of the Warrants to not less than 30 days following the date of such notice.\n\n \n \n \n \n \n \n\n \nIn 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 700,000 finders' warrants (the \"Finders' Warrants\").  Each Finders' Warrant will be exercisable to purchase one Common Share at a price of $0.05, for a period of three years after closing of the Offering. \nCompletion 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.\nThe 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 sel...