FRNT Financial Inc. Announces $3.0M Brokered Financing
Summary
Each Warrant will entitle the holder thereof to purchase one Common Share (each, a Warrant Share) at an exercise price of C$0.90 for 36 months following the completion of the LIFE Offering, subject to accelerated expiry in the event the volume-weighted average closing price of the Common Shares on the TSX Venture Exchange (the TSXV) is $1.20 or more for ten (10) consecutive trading days, in which case the Company may accelerate the expiry date of the Warrants to the date that is thirty (30) days following the issuance of a news release by the Company announcing such acceleration.The Units to be issued under the LIFE Offering will be offered to purchasers pursuant to the Listed Issuer Financing Exemption (the LIFE Exemption) under Part 5A of National Instrument 45-106 Prospectus Exemptions, in Alberta, British Columbia, Manitoba, Ontario and Saskatchewan. 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 St\xe9phane Ouellette, FRNT is a global firm headquartered in Toronto, Canada.Neither the TSXV nor its regulation services provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.This press release contains forward-looking statements and forward-looking information within the meaning of applicable law which may include, without limitation, statements relating to the terms and completion of the LIFE Offering, the use of proceeds of the LIFE Offering, the receipt of TSXV approval in respect of the LIFE Offering, acceleration of the expiry date of the Warrants, the technical, financial and business prospects of the Company, its assets and other matters. 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 Companys 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 the Companys common shares, dependence on key personnel, currency fluctuations, insurance and uninsured risks, competition, legal proceedings, conflicts of interest and lack of dividends.