NEWS RELEASE DelphX Signs Agreement with Castle Placement, LLC to Expand Reach of Credit Rating Security (CRS) Product Toronto – March 19, 2024 DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) (“DelphX”), a leader in the development of new classes of structured products for the fixed income market, is pleased to announce that it has entered into an agreement with Castle Placement, LLC (“Castle”) to accelerate the market exposure and use of the DelphX Credit Rating Security (“CRS”) product, effective March 16, 2024. Castle is a leading global private capital investment bank, with access to over 600,000 accredited investors and 64,500 institutional, private equity, venture capital and strategic investors, family offices, pension funds, foundations, endowments, sovereign wealth funds, hedge funds and lenders. Castle will provide a variety of services to support the launch of the CRS product and facilitation of trades, including additional due diligence and vetting of procedures and guidelines to promote faster adoption. Most importantly, Castle will use its vast network of relationships to assist with the discovery, negotiation, pricing and execution of transactions with respect to both Collateralized Put Options (CPOs) and Collateralized Reference Notes (CRNs), and may act as a placement agent for certain transactions. The agreement provides for revenue sharing on all CRS transactions sourced through Castle. To further support DelphX, Castle will assist the Company with respect to future capital raising. “Our aligning with Castle gives us instant access to their impressive institutional investor network, which they have been building since 2009,” said DelphX CEO Patrick Wood. “In addition to their New York headquarters, Castle also has offices in Boston, Dallas, Detroit, Houston, Los Angeles, Miami, and Washington, D.C. Because our CRS product requires two sides for every trade (a CPO & CRN), having access to such a large pool of potential users can lead to far greater transaction volume. The timing could not be better, as Castle has the network and experience to accelerate our product introduction cycle at a time when the market is highly receptive to rating change protection. We appreciate this vote of confidence in our CRS solution, and look forward to working with the Castle team.”
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 optimally transfer and diffuse credit risk, while allowing the enhancement of yield. The new DelphX securities will enable dealers and their qualified institutional investors (QIBs) accounts to competitively structure, sell and make markets in: 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. For more information about DelphX, please visit www.delphx.com. Patrick Wood, Chief Executive Officer
DelphX Capital Markets Inc.
patrick.wood@delphx.com Mark Forney, Corporate Development
DelphX Capital Markets Inc.
mark.forney@delphx.com (718) 509-2160 |