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TORONTO, May 20, 2022 /CNW/ – FRNT Financial Inc. (TSXV: FRNT) (FSE: XZ3) (“FRNT” or the “Company”); a next-generation institutional capital markets platform offering various trading and advisory services within cryptocurrency, today announces that it has entered into a market making agreement (the “Agreement”) with Independent Trading Group Inc. (“ITG”) pursuant to which ITG has agreed to provide certain market making services to the Company.
ITG will trade the Company’s securities on the TSX Venture Exchange (the “TSXV”) in order to maintain an orderly market and improve the liquidity of the Company’s common shares. In consideration for the services provided by ITG, the Company will pay ITG a monthly cash fee of $5,000 for a minimum term of three months, which will automatically extend for successive one-month terms, unless terminated by either other party upon thirty days written notice. . Services provided by ITG will commence on May 20, 2022. Neither ITG nor its affiliates or associates have any direct or indirect interest in the Company or its securities, nor any right or intention to acquire such interest. ITG will not receive shares or other securities as compensation. ITG is at arm’s length from FRNT and has no other relationship with FRNT except under the Agreement. Capital used for market making will be provided by ITG.
ITG is an independent and private broker based in Toronto, Ontario, which provides a wide range of financial and investment services. ITG is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF) and can access all Canadian stock exchanges and all alternative trading systems.
The Agreement is subject to the filing requirements of the Company with the approval of the TSXV and the TSXV.
About FRNT Financial Inc.
FRNT Financial is a next-generation institutional capital markets platform offering various trading and advisory services in cryptocurrencies and emerging asset classes. The Company intends to introduce a new set of opportunities for Authorized Clients and Institutional Investors while maintaining a lean, state-of-the-art operation. FRNT is focused on providing expertise and products to institutional clients that allow them to efficiently access alternative cryptocurrency opportunities. The Company was founded in 2018 and is led by CEO Stéphane Ouellette, whose head office is located in Toronto, Ontario.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS ITS TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward-Looking Information
This press release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable law. Generally, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “planned”, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate”, “believes” or variations of such words and expressions or statements as certain actions, events or results “may”, “could”, “would”, “could” or “will be taken”, “would occur” or “would be carried out”. All forward-looking statements and forward-looking information are based on reasonable assumptions made by the Company as of the date of such information. Forward-looking statements and forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to differ materially from those expressed or implied by these forward-looking statements. – forward-looking statements and forward-looking information, including, but not limited to: general risks associated with the speculative nature of the Company’s business, current global financial conditions, uncertainty of additional capital, price volatility, lack of earnings history, government regulation in the industries in which the Company operates, political and economic risk, absence of a public market, arbitrary bid price, dilution of common stock, dependence on personnel key, currency fluctuations, insurance and uninsured risks, competition, lawsuits, conflicts of interest and lack of dividends. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements and information, there may be other factors that cause results not to be not those anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on any forward-looking statements or forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information included herein, except in accordance with applicable securities laws.
SOURCE FRNT Financial Inc.
For further information: Investor Relations: Jackie Kelly, [email protected],416-301-2949