TORONTO,
July 9, 2019 /CNW/ - DelphX Capital
Markets Inc. (TSXV: DELX) ("DelphX") announced that
the Board of Directors has approved the grant of 2,700,000 stock
options (the "Options") to eligible participants under its
stock option plan (the "Plan"). The options vest on
September 30, 2019 and are
exercisable for common shares of DelphX at an exercise price of
$0.12 per common share and have a
2-year maturity, all in accordance with the Plan.
Subsequent to this grant, DelphX has 7,279,000
options outstanding and a further 1,633,988 common shares are
reserved for issuance upon the exercise of options that may be
granted pursuant to the Plan.
About DelphX:
DelphX is a technology and financial services company focused on
optimizing fixed income markets. Its Cloud-based platform employs
distributed ledger technology, actuarial science and reinsurance
protocols to enable fixed income dealers to offer new Rule 144A
securities that optimally 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 and
transparently administered within DelphX's immutable distributed
ledger. A traditional book-entry record of each security will also
be maintained in parallel by an independent issuing and paying
agent to provide additional transparency and efficiency.
For more information about DelphX, please visit
www.delphx.com.
Forward-Looking Statements
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.
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.
SOURCE DelphX Capital Markets Inc.