TORONTO, Nov. 5, 2019 /CNW/ - DelphX Capital Markets
Inc. (TSXV: DELX) ("DelphX") announced that the
Board of Directors has approved the grant of 1,650,000 stock
options (the "Options") to eligible participants under its
stock option plan (the "Plan"). The options vest on
over the period ended December 31,
2019 and are exercisable for common shares of DelphX at an
exercise price of $0.10 per common
share and have a 2-year maturity, all in accordance with the
Plan.
Subsequent to this grant, DelphX has 8,719,000 options
outstanding and a further 3,988 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 credit markets. Its Cloud-based technology, actuarial
science and reinsurance protocols enable fixed income dealers to
offer new Rule 144A securities that optimally transfer and 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.
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 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.
