DelphX Announces Closing of Non-Brokered Unit Private Placement

Executive Summary

• DelphX Capital Markets Inc. closed a non‑brokered private placement of 1,500,000 units at C$0.05 per unit, raising gross proceeds of C$75,000.
• Each unit includes one common share and one warrant to purchase an additional share at $0.08 for two years; the offering also generated finder’s fees and 70,000 finder’s warrants issued to AlphaNorth Asset Management.
• Net proceeds will be used for general corporate purposes; securities are subject to a four‑month hold period pending TSX Venture Exchange approval.

Key Details

• Units Issued: 1,500,000 units at C$0.05 per unit → Gross Proceeds: C$75,000.
• Unit Composition: 1 common share + 1 warrant (exercise price $0.08, two‑year term).
• Insider Participation: Insider subscribed for 1,000,000 units; transaction qualifies as a “related party transaction” under MI 61‑101 but exemptions were relied upon because neither fair market value nor cash consideration exceeded 25% of market cap.
• Finder’s Compensation: Cash finder’s fee of $3,500 plus issuance of 70,000 finder’s warrants to AlphaNorth Asset Management (exercise price $0.08, two‑year term).
• Regulatory Conditions: Closing subject to TSX Venture Exchange approval; securities subject to a hold period of four months + one day from issuance.
• Use of Proceeds: Net proceeds earmarked for general corporate purposes.

Notable Quotes

(No executive quotes were provided in the release.)