FRNT Engages ICP Securities Inc. for Automated Market Making Services
2024年2月14日 - 7:01AM
FRNT Financial Inc. (TSXV:FRNT) (OTCQB:FRFLF) (FSE:XZ3) (“FRNT” or
the “Company”) is pleased to announce that it has engaged the
services of ICP Securities Inc. ("ICP") to provide automated market
making services, including use of its proprietary algorithm, ICP
Premium™, in compliance with the policies and guidelines of the TSX
Venture Exchange and other applicable legislation. ICP will receive
a fee of C$7,500 plus applicable taxes per month, payable monthly
in advance. The agreement between the Company and ICP is for
an initial term of four (4) months (the “Initial Term”) and
shall be automatically renewed for subsequent one (1) month terms
(each month called an "Additional Term") unless either party
provides at least thirty (30) days’ written notice prior to the end
of the Initial Term or an Additional Term, as applicable. There are
no performance factors contained in the agreement and no stock
options or other compensation are being granted in connection with
the engagement. ICP and its clients may acquire an interest in the
securities of the Company in the future.
ICP is an arm's length party to the Company. ICP's market making
activity will be primarily to correct temporary imbalances in the
supply and demand of the Company's shares. ICP will be responsible
for the costs it incurs in buying and selling the Company's shares,
and no third party will be providing funds or securities for the
market making activities.
ICP Securities Inc.
ICP Securities Inc. (ICP) is a Toronto based CIRO dealer-member
that specializes in automated market making and liquidity
provision, as well as having a proprietary market making algorithm,
ICP Premium™, that enhances liquidity and quote health. Established
in 2023, with a focus on market structure, execution, and trading,
ICP has leveraged its own proprietary technology to deliver high
quality liquidity provision and execution services to a broad array
of public issuers and institutional investors.
About FRNT Financial Inc.FRNT 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 distinct business lines under the
umbrellas of Capital Markets Services and Advisory Services.
Capital Markets Services consist of Deliverable Services, Treasury
Management, OTC Derivatives, and Lending Origination. Advisory
Services include Merchant Banking, Asset Management, Consulting and
Distressed. Co-founded in 2018 by CEO Stéphane Ouellette, FRNT is a
global firm headquartered in Toronto, Canada.
FRNT FINANCIAL INC.Chief Executive
OfficerStéphane Ouelletteinvestors@frnt.io833
222-3768https://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, 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 Company’s
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.
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