Mr. Mark Forney reports

DELPHX ANNOUNCES NON-BROKERED UNIT PRIVATE PLACEMENT

Delphx Capital Markets Inc. intends to proceed with a fully subscribed non-brokered private placement of 3,972,223 units at a subscription price of nine cents per unit for gross proceeds of $357,500. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 25 cents for a period of five years from the date of issuance.

Completion of the offering is subject to the approval of the TSX Venture Exchange. The securities issued pursuant to the offering will be subject to a hold period of four months plus one day from the date of issuance. Delphx insiders may participate in the offering, subject to compliance with Delphx's insider trading policy.

Delphx intends to use the net proceeds from the offering in connection with general corporate purposes.

About Delphx Capital Markets Inc.

Delphx is a technology and financial services company focused on developing and distributing the next generation of structured products. Through its special-purpose vehicle, Quantem LLC, the company enables fixed-income dealers to offer new private placement securities that provide mitigation of spread and capital charge losses when downgrades occur, while allowing for attractive returns. The new Delphx securities will enable dealers and their qualified institutional investor (qualified institutional buyer) accounts to competitively structure, sell and make markets in:

• Collateralized put options (CPOs) that provide secured rating downgrade protection for underlying corporate bonds;
• Collateralized reference notes (CRNs) that enable investors to take on a capped rating downgrade exposure of an underlying security in exchange for attractive returns.

All CPOs and CRNs are fully collateralized and held in custody by BNY Mellon. CPOs and CRNs are proprietary products created and owned by Delphx Capital Markets.