Tenet and Able View Global Sign Agreement in Principle for Distribution of Canadian Brands in China
Tenet Fintech Group and Able View Global have reached an agreement in principle to distribute Canadian brands in China. Tenet, known for its Cubeler Business Hub, will collaborate with Able View, China's second largest international beauty and personal care brand manager. The partnership aims to develop a program to identify Canadian brands suitable for distribution in China. The revenue-sharing structure between the companies is expected to be finalized by July 31, 2024.
- Agreement aims to expand Canadian brands into the Chinese market, offering potential growth opportunities.
- Collaboration with China's second largest beauty and personal care brand manager (Able View) could enhance market penetration.
- Finalization of revenue-sharing terms by July 31, 2024, provides a clear timeline for execution.
- Partnership leverages Tenet's Cubeler Business Hub to identify potential brands, indicating a systematic approach to market entry.
- Details of the revenue-sharing structure are not yet finalized, leading to uncertainty regarding financial benefits.
- Success of the program is contingent on identifying suitable brands and market acceptance in China, posing a risk.
Toronto, Ontario and Shanghai, China--(Newsfile Corp. - May 21, 2024) - Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Tenet"), an innovative analytics service provider, owner and operator of the Cubeler® Business Hub, and Able View Global Inc. (NASDAQ: ABLV) ("Able View"), China's second largest international beauty and personal care brand manager, today announced that they have signed an agreement in principle for the distribution of Canadian brands in China.
The parties will develop a program that will help identify brands owned by members of the Cubeler® Business Hub that could successfully be distributed in China through Able View's services under a negotiated revenue sharing structure between Able View and Tenet. A definitive agreement with the terms of the revenue sharing structure is expected by no later than July 31, 2024.
About Able View Global Inc.:
Able View Global Inc. is a brand management and distribution company. Able View partners with beauty and personal care brands in China and around the world for sales and distribution in China. Its brand management services, used by both well-established international brands and emerging brands, encompass various segments of the brand management value chain, including strategy, branding, digital and social media marketing, omni-channel sales, customer service, international logistics, warehousing and fulfilment. For more on Able View, please visit the company's website at: https://www.ableview.com.
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 Hub, a global ecosystem where analytics and AI are used to create opportunities and facilitate B2B transactions among its members. For more on Tenet, please visit the company's website at: https://www.tenetfintech.com/.
For more information, please contact:
Able View Global Inc.
Dennis Tang, CFO
info@ableview.com
Tenet Fintech Group Inc.
Mayco Quiroz, Chief Operating Officer
514-340-7775 ext.: 510
investors@tenetfintech.com
CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext.: 251
cathy@chfir.com
Forward-looking information
Certain statements in this press release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of Tenet and Able View to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Although Tenet and Able View have attempted to identify certain factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements reflect information as of the date on which they are made. Tenet and Able View assume no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event Tenet and Able View do update any forward-looking statement, no inference should be made that Tenet and Able View will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209925
FAQ
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