DelphX Capital Markets Inc. raised proceeds of about C$1.6 million in its nonbrokered private placement of 8,116,500 units.
Issued at 20 Canadian cents apiece, each unit consists of 1 DelphX common share and 1 common share purchase warrant. Each warrant entitles the holder to purchase 1 common share at a price of 30 Canadian cents until May 24, 2021.
The company also closed its nonbrokered private placement of C$620,000 of secured convertible debentures due May 31, 2021.
The debentures bear interest at a rate of 12% per year, calculated and payable semiannually, starting Nov. 30.
At the option of the holder, the principal amount of the debentures may be converted to 1 debenture unit for each 15 Canadian cents of outstanding principal. Each debenture unit consists of 1 common share and 1 debenture warrant. Each debenture warrant will be exercisable to purchase 1 common share at a price of 20 Canadian cents until May 31, 2021.
