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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.

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.

Baker Tilly WM LLP was re-appointed auditors of the Company for the ensuing year with the remuneration to be fixed by the directors.

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.

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.

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.

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