DelphX Announces Warrant Extension

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05/19/2023 - 12:54 PM EDT

Toronto, Ontario--(Newsfile Corp. - May 19, 2023) - DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) ("DelphX"), a leader in the development of new classes of structured products for the fixed income market, announces that it intends to seek approval of the TSX Venture Exchange to extend the exercise period of share purchase warrants.

DelphX intends to seek approval of the TSX Venture Exchange to extend the exercise period of a total of 4,133,334 share purchase warrants, all of which are exercisable at $0.24 per common share (collectively, the "Warrants"). The Warrants were issued on May 31, 2021 on the conversion of $620,000 principal amount of secured convertible debentures issued pursuant to a private placement announced September 4, 2019. DelphX proposes to extend the expiry date for these Warrants by one year to May 31, 2024.

All other terms and conditions of the Warrants will remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.

A total of 1,666,667 Warrants are held by parties who are considered to be "related parties" of DelphX Therefore, the amendment of Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions, and TSXV Policy 5.9 - Protection of Minority Security Holders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for can be relied upon as the fair market value of the Warrants does not exceed 25% of the market capitalization of DelphX.

About DelphX Capital Markets Inc.

DelphX is a technology and financial services company focused on developing and distributing the next generation of structured products. Through its special purpose vehicle Quantem LLC, the Company enables fixed income dealers to offer new private placement securities that optimally transfer and diffuse credit risk, while allowing the enhancement of yield. The new DelphX securities will enable dealers and their qualified institutional investors (QIBs) accounts to competitively structure, sell and make markets in:

Collateralized put options (CPOs) that provide secured default protection or rating downgrade protection for underlying corporate, municipal and sovereign securities;

Collateralized reference notes (CRNs) that enable credit investors to take on the default or rating downgrade exposure of an underlying security in exchange for enhanced yield.

All CPOs and CRNs are fully collateralized and held in custody by BNY Mellon. CPOs and CRNs are proprietary products created and owned by DelphX Capital Markets.

For more information about DelphX, please visit https://delphx.com/.

Mark Forney, Corporate Development
DelphX Capital Markets Inc.
mark.forney@delphx.com
(718) 509-2160

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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