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DelphX Closes On Initial Phase Of Private Placement
DelphX Closes On Initial Phase Of Private Placement Canada NewsWire TORONTO, Oct...
About this update from Delphx Capital Markets, Inc.
[{"type":"text","content":"\n\n\n\nDelphX Closes On Initial Phase Of Private Placement\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Oct. 23, 2018\n\n\n\nTORONTO, Oct. 23, 2018 /CNW/ -- DelphX Capital Markets Inc. (TSXV: DELX) (\"DelphX\") announced today that it has closed on more than one-third of its current round of funding at a subscription price of C$0.50 per share, for gross proceeds up to C$3,000,000.  \n\n \n \n\n \nThe offering consists of one common share and one-half-of-one share purchase warrant, with each whole warrant entitling the holder to purchase one common share at a price of $0.70, for a period of 2 years from the date of closing. In the event the closing price of the DELX shares on the TSX Venture Exchange is equal to or greater than C$1.30 per share for 20 consecutive trading days at any time following such closing, however, DelphX may reduce the remaining exercise period of the warrants to a period not less than 30 days.  \nThe securities issued in the offering are subject to a hold period of four months plus one day from the date of closing. In connection with the private placement, DelphX paid finder's fees to eligible parties.\nDelphX intends to use the net proceeds from the share sale for working capital and general corporate purposes.\nAbout DelphX: \nDelphX is a technology company focused on optimally mitigating credit risk in the global fixed income markets. Its Cloud-based solution employs proprietary distributed ledger technology, actuarial science and reinsurance protocols to facilitate broad diffusion of default risks. DelphX's new alternative trading system (\"ATS\") facility will be regulated by the SEC and operated by its subsidiary, DelphX Services Corporation, a FINRA member firm, to facilitate the negotiation, purchase and trading of two new forms of Rule 144A Smart Securities: \nCovered Put Options (CPOs) that provide secured default protection for underlying corporate, municipal and sovereign securities, with each CPO strike-price equaling the par value of its underlying security; and Covered Ref...