1,197,940 Common Shares of FRNT Financial Inc. are subject to a Lock-Up Agreement Ending on 19-OCT-2022.
October 19, 2022
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1,197,940 Common Shares of FRNT Financial Inc. are subject to a Lock-Up Agreement Ending on 19-OCT-2022. These Common Shares will be under lockup for 190 days starting from 12-APR-2022 to 19-OCT-2022.
Details:
An aggregate of 18,794,389 Common Shares, 10,808,120 Class A Common Shares, 100,000 Warrants and 490,000 Options will be deposited into escrow and released as to 10% on the listing date and the remaining in 6 equal tranches of 15% each on the dates that are 6 months, 12 months, 18 months, 24 months, 30 months, and 36 months following the listing date.
Each of the officers and directors of the company, along with all shareholders of the company, will agree, in a lock-up agreement to be executed concurrently with closing, that for a period of 180 days from the Closing Date, each will not, directly or indirectly, offer, sell, contract to sell, grant or sell any option to purchase, hypothecate, pledge, transfer, assign, purchase any option or contract to sell, lend, swap, or enter into any other agreement to transfer the economic consequences of, or otherwise dispose of, reduce its financial exposure to, or deal with the securities of the company held by such person, whether through the facilities of a stock exchange, by private placement or otherwise, and further will not publicly announce any intention to undertake any of the foregoing.
FRNT Financial Inc. (FRNT) is a Canada-based company. The Company is an institutional capital markets and advisory platform focused on digital assets. It operates five business lines, including deliverable trading services, institutional structured derivative products, merchant banking, advisory and consulting, and principal investments and trading. Its service offerings include Capital Markets, consisting of OTC Spot, Derivatives, and Treasury Management and Advisory, consisting of Consulting, Merchant Banking, and Asset Management. FRNT provides technology that allows counterparties to access cryptocurrency liquidity and other yields in the space via highly automated interfaces. FRNT's technology facilitates block trading for crypto and alternative assets between clients and global market makers. The Company is a licensed as a portfolio manager with the OSC. The Company's subsidiary is FRNT Asset Management Inc., which is engaged in providing financial technology services.