Insiders participated in the Offering subscribing for 1,500,000 Units, and as a result the Offering is considered a 'related party transaction' within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ('MI 61-101'). DelphX has relied on the exemptions from the formal valuation and minority approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation, as neither the fair market value of the securities issued to insiders nor the cash consideration paid for such securities exceeded 25% of DelphX's market capitalization. A material change report was not filed more than 21 days prior to closing of the Offering as the participation of insiders in the Offering and the extent of such participation was not finalized until shortly prior to the completion of the Offering.
In connection with the Offering, DelphX will pay cash finder's fees of
Completion of the Offering is subject to the final approval of the TSXV. The securities issued pursuant to the Offering are subject to a hold period of four months and a day from the date of closing.
About DelphX:
DelphX is a technology and financial services company focused on developing and distributing the next generation of structured products. Through its special purpose vehicle
All CPOs and CRNs are fully collateralized and held in custody by
For more information about DelphX, please visit www.delphx.com.
Contact:
Corporate Development
E: Mark.forney@delphx.com
T: (718) 509-2160
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