Mr. Mark Forney reports

DELPHX ANNOUNCES CLOSING OF NON-BROKERED UNIT FINANCING

Delphx Capital Markets Inc. has closed on a non-brokered private placement of five million units at a subscription price of eight cents per unit for gross proceeds of $400,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 20 cents for a period of five years from the date of issuance.

Insiders participated in the offering, subscribing for 2,812,500 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, and TSX Venture Exchange Policy 5.9, Protection of Minority Security Holders in Special Transactions. However, 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 per cent 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 $11,200 and issue 140,000 finder warrants to AlphaNorth Asset Management, an eligible finder. The finder warrants will be exercisable at 20 cents each for a period of five years after issuance.

The offering has been conditionally accepted by the TSX-V, and completion of the offering is subject to the fulfilment or satisfaction of certain customary requirements and final acceptance by the TSX-V. 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 intends to use the net proceeds from the offering in connection with the launch of the company's novel credit rating security (CRS) product and for 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 optimally transfer and diffuse credit risk while allowing the enhancement of returns. The new Delphx securities will enable dealers and their qualified institutional investors (QIBs) accounts to competitively structure, sell and make markets in:

• Collateralized put options (CPOs), which provide rating change protection for underlying corporate bonds;
• Collateralized reference notes (CRNs), which enable hedge funds and others to take on rating downgrade exposure of an underlying corporate bond 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.