Tenet and Elite Times CPA Sign Strategic Alliance Agreement to Bring 1,000 New SMEs and Automated Bookkeeping to the Cubeler Business Hub

Rhea-AI Summary

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) has signed a strategic alliance agreement with Elite Times CPA Inc. to bring approximately 1,000 small and medium-sized enterprise (SME) clients to the Cubeler® Business Hub. The agreement also aims to implement automated bookkeeping on the platform.

Key points of the alliance include:

• Times CPA's services will be featured throughout the Business Hub
• Business Hub members will be encouraged to use Times CPA's services
• Times CPA will promote the Business Hub to potential new clients
• The addition of Times CPA's clients is expected to enable Tenet to launch its ie-Pulse indexes product later this year
• Automated bookkeeping will be implemented as a standard offering for Business Hub members

This strategic alliance aims to simplify operations for SMEs and provide them with new insights to improve their businesses.

Positive

• Strategic alliance brings 1,000 new SME clients to the Cubeler Business Hub
• Implementation of automated bookkeeping services for Business Hub members
• Expected launch of ie-Pulse indexes product offering later this year
• Increased visibility and potential client base for Times CPA through Business Hub promotions
• Daily updated data for Tenet's ie-Pulse product offering through automated bookkeeping

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - August 14, 2024) - 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 announced that it has signed a strategic alliance agreement with Elite Times CPA Inc. ("Times CPA") to bring Times CPA's approximately 1,000 small and medium sized enterprise (SME) clients to the Business Hub, while the parties also endeavor to bring automated bookkeeping to the platform.

Times CPA (https://timesaccounting.ca) is a Canadian accounting firm with offices in Montreal, Ottawa, Toronto and Vancouver, proving various accounting, bookkeeping, tax preparation and consulting services to a diverse clientele of businesses operating primarily in Quebec, Ontario and British Columbia. Times CPA's clients include retailers, manufacturers, daycares, restaurants, import and exporters, IT service providers and more.

Under the terms of the agreement between the parties, Times CPA's services will be featured throughout the Business Hub in the form of different types of advertising and promotional campaigns with a guaranteed minimum number of impressions for each campaign. Members of the Business Hub not already doing business with a bookkeeping service provider will be encouraged to do business with Times CPA. In addition to registering or causing their existing clients to register as members of the Business Hub, Times CPA will actively promote the Business Hub's services as a complementary offering of its own services to potential new business clients. The addition of Times CPA's clients to the Business Hub is expected to allow Tenet to have access to a sufficient amount of data to launch its ie-Pulse indexes product offering later this year. With the best interests of SMEs in mind and to their mutual benefit, the parties also agreed to make the implementation of automated bookkeeping a standard offering for members of the Business Hub. While AI-based automated bookkeeping will reduce data entry and the risk of human error, among other benefits for Times CPA, its implementation will allow Tenet to have fresh and updated data on a daily basis for its ie-Pulse product offering. The main benefit for the platform's SMEs will come in the form of their ability to obtain a daily picture of how their businesses are performing from a user-friendly dashboard.

"One of our objectives with the Business Hub is to do everything we can to bring solutions to simplify the lives of our members so that they can focus on what they do best," commented Mayco Quiroz, Tenet's Chief Operating Officer. "This strategic alliance is another great example of that. By doing business with Times CPA and eventually having their bookkeeping fully automated, our members will have access to what I believe will be for many of them, an eye-opening perspective on their operations and new insights for the betterment of their businesses and that's what the Business Hub's offering to SMEs is all about".

Tenet and Times CPA are aiming to have the automated bookkeeping services implemented shortly following the addition of the Networking and Advertising modules to the Business Hub.

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. Please visit our website at: https://www.tenetfintech.com/.

For more information, please contact:

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

Follow Tenet Fintech Group Inc. on social media:
X: @Tenet_Fintech
Facebook: @Tenet
LinkedIn: Tenet
YouTube: Tenet Fintech

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 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. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to, holding company with significant operations in China; general economic and business conditions, including factors impacting the Company's business in China such as pandemics and COVID-19; legislative and/or regulatory developments; Global Financial conditions, repatriation of profits or transfer of funds from China to Canada, operations in foreign jurisdictions and possible exposure to corruption, bribery or civil unrest; actions by regulators; uncertainties of investigations, proceedings or other types of claims and litigation; timing and completion of capital programs; liquidity and capital resources, negative operating cash flow and additional funding, dilution from further financing; financial performance and timing of capital; and other risks detailed from time to time in reports filed by Tenet with securities regulators in Canada. Reference should also be made to Management's Discussion and Analysis (MD&A) in Tenet's annual and interim reports, Annual Information Form, filed with Canadian securities regulators and available via the System for Electronic Document Analysis and Retrieval (SEDAR+) under Tenet's profile at www.sedarplus.ca, for a description of major risk factors relating to Tenet. Although Tenet has 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. The Company assumes 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 the Company does update any forward-looking statement, no inference should be made that the Company will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219867

FAQ

What is the strategic alliance between Tenet Fintech Group (PKKFF) and Elite Times CPA?

Tenet Fintech Group (PKKFF) and Elite Times CPA have signed a strategic alliance agreement to bring approximately 1,000 SME clients to the Cubeler Business Hub and implement automated bookkeeping services on the platform.

How many new SME clients is the Tenet-Times CPA alliance expected to bring to the Cubeler Business Hub?

The strategic alliance between Tenet Fintech Group and Elite Times CPA is expected to bring approximately 1,000 new small and medium-sized enterprise (SME) clients to the Cubeler Business Hub.

What new product is Tenet Fintech Group (PKKFF) planning to launch as a result of this alliance?

Tenet Fintech Group (PKKFF) is planning to launch its ie-Pulse indexes product offering later this year, enabled by the addition of Times CPA's clients to the Cubeler Business Hub.

How will the automated bookkeeping service benefit Tenet Fintech Group (PKKFF) and its Business Hub members?

The automated bookkeeping service will provide Tenet with fresh, daily updated data for its ie-Pulse product offering, while Business Hub members will gain a daily picture of their business performance through a user-friendly dashboard.