/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES./
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 it has entered into 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 securities of the Company on the TSX Venture
Exchange (the "TSXV") for the purposes of maintaining an orderly
market and improving liquidity of the Company's common shares. In
consideration of 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 party on thirty days'
prior written notice. The services provided by ITG will commence on
May 20, 2022. None of ITG nor its
affiliates or associates has any interest directly or indirectly in
the Company or its securities, or any right or intent to acquire
such an interest. ITG will not receive shares or other securities
as compensation. ITG is at arm's length to FRNT and has no
other relationship with FRNT, except pursuant to the Agreement. The
capital used for market making will be provided by ITG.
ITG is an independent, privately held broker-dealer based in
Toronto, Ontario, that 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 alternative trading systems.
The Agreement is subject to the Company's filing requirements
with the TSXV and TSXV approval.
About FRNT Financial
Inc.
FRNT Financial is a next generation institutional capital
markets platform offering various trading and advisory services
within cryptocurrency and emerging asset classes. The Company
intends to present a new set of opportunities targeted to permitted
clients and institutional investors while maintaining a lean,
technology-forward operation. FRNT is focused on delivering
expertise and products to institutional clients that allow them to
effectively access alternative cryptocurrency opportunities. The
Company was founded in 2018 and is led by CEO Stéphane Ouellette,
headquartered in Toronto,
Ontario.
https://www.frnt.io
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Cautionary Note 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", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", "believes", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". All forward-looking
statements and forward-looking information are based on reasonable
assumptions that have been made by the Company as at 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 be
materially different from those expressed or implied by such
forward-looking statements and forward-looking information,
including but not limited to: the general risks associated with the
speculative nature of the Company's business, current global
financial conditions, uncertainty of additional capital, price
volatility, no history of earnings, government regulation in the
industries in which the Company operates, political and economic
risk, absence of public trading market, arbitrary offering price,
dilution to Common Shares, dependence on key personnel, currency
fluctuations, insurance and uninsured risks, competition, legal
proceedings, 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
forward-looking statements and forward-looking information, there
may be other factors that cause results not to be as 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 forward-looking statements or forward-looking
information. The Company does not undertake to update any
forward-looking statement or forward-looking information that is
included herein, except in accordance with applicable securities
laws.
SOURCE FRNT Financial Inc.