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UNITED STATES/
TORONTO, Aug. 12,
2022 /CNW/ - FRNT Financial
Inc. (TSXV: FRNT) (OTC: FRFLF) (FSE: XZ3)
("FRNT" or the "Company"); an
institutional capital markets and advisory platform focused on
digital assets, is pleased to announce the
voting results from the Company's Annual General
and Special Meeting
of the Shareholders (the "Meeting") held on August
10, 2022. A total of 19,886,016 common shares were voted,
representing the votes attached to 57.04% of
all outstanding common shares. All matters
submitted to shareholders for approval as set out in the Company's Notice
of Meeting and Information Circular (the "Circular"), both
dated July 8, 2022, were approved by
the requisite majority of votes cast at
the Meeting.
Election of Directors
Each of the incumbent members of the board of directors, being
Stéphane Ouellette, Adam Rabie,
Dan Cristall,
Eric Richmond and Geoffrey
Brown, were re-elected.
Appointment of Auditor
Baker Tilly WM LLP was re-appointed auditors of the Company for
the ensuing year with the remuneration to be fixed by
the directors.
Stock Option Plan
At the Meeting, shareholders also approved the Company's 20% "fixed" Stock
Option Plan (the "Stock Option Plan"),
as described in the Circular. The Stock Option Plan supersedes the
Company's former equity incentive compensation plan (the "Former
Plan") and replaces the non-option securities component of the
plan with an additional 10% of shares that are now reserved for
issuance upon the granting of stock options. Any stock options
currently outstanding under the Former Plan will remain outstanding
as at the effective date, however new stock option grants will be
subject to the Stock Option Plan. No other form of securities were
outstanding under the Former Plan. The Stock Option Plan also makes
certain amendments in order to better align with the new TSX
Venture Exchange ("TSXV") Policy 4.4 – Security Based
Compensation and general amendments of a housekeeping nature.
The amended Stock Option Plan was conditionally approved by the
TSXV on July 11, 2022 and is subject
to final acceptance of the TSXV.
About FRNT Financial
Inc.
FRNT Financial is an institutional capital markets and advisory
platform focused on digital assets. FRNT, through
a technology-forward and compliant operation, aims to bridge
the worlds of traditional and web-based finance. Partnering
with both financial institutions and crypto native firms, FRNT
operates 5 synergistic business lines including deliverable
trading services, institutional structured derivative products,
merchant banking, advisory and consulting, and principal
investments & trading. Co-founded in 2018 by CEO Stéphane
Ouellette, FRNT is a global firm headquartered
in Toronto, Canada.
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 of the Company, 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.