DelphX Announces Closing of Non-Brokered Unit Private Placement

Executive Summary

• DelphX Capital Markets Inc. closed a non‑brokered private placement of 2,800,000 units at C$0.04 per unit, generating gross proceeds of C$112,000.
• Each unit includes one common share and one warrant to purchase an additional share at $0.07 for two years.
• Net proceeds will be used for working capital and corporate overhead; securities are subject to a four‑month hold period and TSX Venture Exchange approval.

Key Details

• Units Issued: 2,800,000 units (each = 1 common share + 1 warrant).
• Subscription Price: C$0.04 per unit.
• Gross Proceeds: C$112,000.
• Warrant Terms: Right to purchase one common share at $0.07 per share; exercisable for two years from issuance.
• Hold Period: Securities subject to a lock‑up of four months plus one day.
• Regulatory Condition: Closing contingent on TSX Venture Exchange approval.
• Use of Proceeds: Net proceeds earmarked for working capital and corporate overhead expenses.

Notable Quotes

(No executive quotes were included in the release.)