Frontera Group Inc. (OTCMKTS:FRTG) Appoints New Management and Board Members: Stock Falls
Frontera Group Inc. (OTCMKTS:FRTG) has announced the appointment of Andrew De Luna, CPA, MBA, as Interim Chief Executive Officer. He has over two decades of executive management and M&A experience, most recently including the sale of FinTech company Energy Funders to a TSX based public company and spearheading important acquisitions for Illinois Tool Works, Inc.
Market Stats
On Thursday, FRTG stock fell 22% to $0.39 with 32K shares, compared to its average volume of 569 shares. The stock moved within a range of $0.3000 – 0.4500 after opening trading at $0.45.
Frontera Group Announces New Management and Board Members
Frontera is a strategic acquirer of intellectual property and revenue-generating companies in the technology and human capital markets. It is developing and executing an aggressive, four-tier acquisition and implementation strategy intended to provide substantial increases in profitability to its acquisitions in industries which have conventionally low and stagnant EBITDA multiples.
Mr. De Luna has also been named as the company’s Vice President, while Chief Financial Officer, K. Bryce “Rick” Toussaint, CPA, MBA has been elected to its board as a Director, and Deneice Day, CPA is now named as Frontera’s Treasurer. Mann Yam, the company’s former CEO, retains his position as Chairman of the Board.
Mr. De Luna, is confident that Frontera is set to emerge as a focused, thriving public company. He is thrilled to assume a leadership role for driving innovation and value to their stakeholders. The company will soon be a force to be reckoned with, in technology and human capital spaces.
Key Quote
“Frontera is positioned to emerge as a focused, thriving public company, and I am proud to lead our executive team in driving innovation and value for our stakeholders,” said Mr. De Luna. “Through our aggressive approach to acquisitions of entities and assets, coupled with strategic initiatives designed to substantially increase profitability in companies operating in typically low EBITDA market sectors, I believe we have the potential to emerge as a powerful force in the technology and human capital spaces.”
