DelphX Provides Correction to Convertible Debenture Closing and Announces Non-Brokered Private Placement

Executive Summary

• Delphx Capital Markets Inc. issued a correction to its June 1, 2026 announcement regarding a convertible debenture private placement, reducing the principal amount from $125,000 to $35,000 due to a subscriber reducing their commitment.
• The company simultaneously announced a new non-brokered private placement of up to 2.5 million units at $0.02 per unit, targeting gross proceeds of up to $50,000.
• The new offering includes warrants allowing the purchase of common shares at $0.06 per share, with net proceeds intended for general corporate purposes, subject to TSX Venture Exchange approval.

Key Details

• Debenture Correction:
  • Original principal amount announced: $125,000.
  • Corrected aggregate gross proceeds received: $35,000.
  • The company does not expect to receive the balance of the previously announced amount.
  • No common shares, warrants, or other securities will be issued for the unfunded portion.
  • The debenture has been amended to reflect the $35,000 principal amount.
• Amended Debenture Terms:
  • Interest rate: 8% per annum.
  • Maturity: One year from issuance (May 29, 2027).
  • Conversion: Convertible into up to 700,000 common shares.
  • Conversion price: $0.05 per share.
• New Non-Brokered Private Placement:
  • Structure: Up to 2.5 million units.
  • Subscription price: $0.02 per unit.
  • Gross proceeds: Up to $50,000.
  • Unit composition: One common share and one common share purchase warrant.
  • Warrant terms: Entitles holder to purchase one common share at $0.06 per share.
  • Warrant expiry: Two years from the date of issuance.
  • Hold period: Four months plus one day from the date of issuance.
  • Use of proceeds: General corporate purposes.
  • Regulatory status: Subject to approval of the TSX Venture Exchange.
  • Finders' fees: May be paid to eligible finders; details to be announced later.

Notable Quotes

• None provided in the text.