08:48 AM EDT, 07/04/2024 (MT Newswires) -- FRNT Financial ( FRFLF ) , an institutional capital markets and advisory platform focused on digital assets, said on Thursday that it received board approval for the amendment of 465,731 previously granted employee stock options.

Under the option amendments, the exercise price of the options has been reduced to $0.60 per common share from $1.17. All other terms of the amended options remain unchanged.

Further, the board has determined that the amended options do not offer an adequate incentive to participants under the company's stock option plan, based on their original exercise price.

The company's stock fell over 3% in Canada yesterday to close at $0.4350.