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No Material Losses
in Crypto Sell-Off Due to Non-Directional Arbitrage Investments
TORONTO, May 11, 2022
/CNW/ - FRNT Financial Inc. (TSXV: FRNT) (FSE: XZ3) ("FRNT" or the
"Company"); a next generation institutional capital markets
platform offering various trading and advisory services within
cryptocurrency, provides an update on the Company's treasury
holdings. The company is pleased to report that it currently holds
no material directional exposure to cryptocurrency in its Treasury.
As a result, the company's capital has suffered no material losses
in the current cryptocurrency sell-off.
Stéphane Ouellete, CEO and Co-Founder of FRNT Financial stated,
"While Bitcoin is down more than 50% from its high, we've used the
volatility to our advantage, investing in arbitrage mandates that
have historically been much more defensive and at time quite
profitable, in similar crypto trading environments. To be perfectly
clear, we do currently do not hold material long crypto exposure in
our treasury, and our non-directional mandate has shielded us from
losses in the recent downturn."
About FRNT Financial Inc.
FRNT Financial is a next generation institutional capital
markets platform offering various trading and advisory services
within cryptocurrency and emerging asset classes. The Company
intends to present a new set of opportunities targeted to permitted
clients and institutional investors while maintaining a lean,
technology-forward operation. FRNT is focused on delivering
expertise and products to institutional clients that allow them to
effectively access alternative cryptocurrency opportunities. The
Company was founded in 2018 and is led by CEO Stéphane Ouellette,
headquartered in Toronto,
Ontario.
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 closing of the Offering, the ability of the Company
to fulfil the requirements of the Exchange and receive final
approval to list its Commom Shares, 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, dependence on key personnel,
currency fluctuations, insurance and uninsured risks, competition,
legal proceedings, conflicts of interest and lack of dividends as
well as those factors discussed in the section entitled "Risk
Factors" in the Company's final prospectus. 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 forward-looking statements and forward-looking information
contained in this press release are included for the purpose of
providing investors with information to assist them in
understanding the offering as well as the Company's expected
financial and operational performance and may not be appropriate
for other purposes.
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.