Mr. Patrick Wood reports

DELPHX ANNOUNCES WARRANT EXTENSION

Delphx Capital Markets Inc. intends to seek the approval of the TSX Venture Exchange to extend the exercise period of share purchase warrants.

Delphx intends to seek the approval of the TSX-V to extend the exercise period of a total of 8,116,500 share purchase warrants, all of which are exercisable at 30 cents per common share. The warrants were issued pursuant to a private placement announced on Sept. 4, 2019. Delphx proposes to extend the expiry date for these warrants by one year to May 15, 2022.

All other terms and conditions of the warrants will remain unchanged. The warrant extension is subject to acceptance by the TSX-V.

A total of 1,866,500 warrants are held by parties that are considered to be related parties of Delphx. Therefore, the amendment of warrants constitutes a related party transaction, as contemplated by Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, and TSX-V Policy 5.9 -- Protection of Minority Security Holders in Special Transactions. However, the exemptions from the formal valuation and minority shareholder approval requirements provided for can be relied upon, as the fair market value of the warrants does not exceed 25 per cent of the market capitalization of Delphx.

About Delphx Capital Markets Inc.

Delphx Capital Markets is a technology and financial service company focused on bringing new and exciting alternatives to structured product and credit markets. Through its special-purpose vehicle, Quantem, and its broker-dealer, Delphx Services Corp., it enables fixed-income dealers to offer new Rule 144A securities that optimally transfer and diffuse credit risk, while allowing the enhancement of yield. The new Delphx platform will be regulated by the U.S. Securities and Exchange Commission and will 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;
• Covered reference notes (CRNs) that enable credit investors to take on the default exposure of a single underlying security in exchange for enhanced yield.

All CPOs and CRNs will be collateralized and held in custody by an independent custodian. CPOs and CRNs are proprietary products created and owned by Delphx Capital Markets.