Toronto, Ontario--(Newsfile Corp. - July 17, 2026) - Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Tenet" or the "Company"), an innovative analytics service provider, owner and operator of the Cubeler Business Hub, today announces that it has closed its previously announced non-brokered private placement (the "Private Placement"), as described in its news release dated July 13, 2026.
Pursuant to the Private Placement, the Company issued an aggregate of 30,000,000 common shares (the "Shares") of the Company at a price of $0.05 per Share for aggregate gross proceeds of $1.5M. The Private Placement was originally announced on July 13, 2026, for gross proceeds of up to $1.2M but was subsequently upsized to $1.5M to provide the Company with a little more financial cushion as it looks to bring its data derived products to market in North America.
The Company intends to use the net proceeds of the Private Placement primarily to finalize the relaunch of the Company's Cubeler Business Hub by making it available to SMEs in both the U.S. and Canada simultaneous with the integration of Chinese SMEs to follow shortly thereafter. The Company actively began the recruitment of Chinese import/export companies in early July to help provide immediate international business opportunities to North American SMEs at the relaunch of the Business Hub.
The Shares were issued pursuant to available prospectus exemptions under applicable Canadian securities laws and are subject to a statutory hold period of four months and one day from the closing date of the Private Placement in accordance with applicable securities laws.
Certain qualified individuals and registered investment dealers ("Finders"), who assisted the Company with respect to the Private Placement, received from the Company, in compliance with securities laws, a cash finder's fee equal to 5% of the gross proceeds they helped raise. No insiders of the Company participated in the Private Placement.
About Tenet Fintech Group Inc.:
Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence (AI) companies. All references to Tenet in this news release, unless explicitly specified, include Tenet and all its subsidiaries. Tenet's subsidiaries offer various analytics and AI-based products and services to businesses, capital markets professionals, government agencies and financial institutions either through or leveraging data gathered by the Cubeler Business Development Platform, a global ecosystem where analytics and AI are used to create opportunities and facilitate B2B transactions among its members. Please visit our website at: https://www.tenetfintech.com/.