DelphX Closes Previously Announced Unit Financing

Toronto, Ontario–(Newsfile Corp. – April 24, 2020) – DelphX Capital Markets Inc. (TSXV: DELX) (“DelphX“) announces that it has closed its previously announced (see press releases dated March 12, 2020 and March 23, 2020) non-brokered unit private placement (the “Offering“).

Offering

The Offering consisted of 3,910,001 units (each a “Unit“) issued at $0.06 per Unit, raising proceeds of $234,600. Each Unit consists of one common share (“Common Share“) of DelphX and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one Common Share at a price of $0.08, for a period up to 5 years after issuance.

In connection with the Offering, DelphX issued 116,667 finders’ warrants (each a “Finder Warrant“) and paid $7,000 in finders’ fees. Each Finder Warrant entitles the holder to purchase one Common Share at a price of $0.08, until March 24, 2025.

The securities issued pursuant to the Offerings are subject to a statutory four-month-plus-one-day hold period, ending between July 27, 2020 and August 25, 2020.

The Offering was conducted in reliance upon certain prospectus exemptions and is subject to TSX Venture Exchange approval. Following closing of the Offering and as at the date of this press release, DelphX has 91,139,877 Common Shares outstanding.

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 enable dealers to competitively structure, sell and make markets in:

• Covered 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

• Covered Reference Notes (CRNs) that enable credit investors to take on the default exposure of a single underlying security or optionally participate in a pool of diversified risks that broadly diffuses the impact of credit events.

All CPOs and CRNs will be collateralized by investment grade assets held in custody by an independent custodian.

Forward-Looking Statements

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This news release contains certain “forward-looking statements” including, without limitation, statements regarding the launch of the DelphX platform. Such forward-looking statements involve risks and uncertainties, both known and unknown. The results or events depicted in these forward-looking statements may differ materially from actual results or events. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding and are implicit in, among other things: the state of the capital markets, tax issues associated with doing business internationally, the ability of DelphX to successfully manage the risks inherent in pursuing business opportunities in the financial services and Blockchain industry, and the ability of DelphX to obtain qualified staff, equipment and services in a timely and cost-efficient manner to develop its business. Any forward-looking statement reflects information available to DelphX as of the date of this news release and, except as may be required by applicable securities laws, DelphX disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

For more information about DelphX, please visit www.delphx.com.

Contact:
Stephen Gledhill, Chief Financial Officer
DelphX Capital Markets Inc.
E: info@delphx.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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