Tenet Shares to be Listed for Trading on OTCQB Market in the U.S.

Rhea-AI Summary

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF), owner of the Cubeler® Business Hub, has initiated the process to list its shares on the OTCQB Market in the U.S. This move aims to remove trading restrictions for U.S. investors and pave the way for a future listing on a senior national stock exchange in the country. Currently listed on the OTC Pink Market, Tenet must demonstrate current reporting and disclosure compliance to qualify for the OTCQB upgrade. The company's shares previously traded on OTCQB in September 2020, followed by OTCQX listing until September 2021, and a brief stint on the NASDAQ Capital Market Exchange.

Positive

• Initiating process to upgrade from OTC Pink to OTCQB Market
• Potential for increased liquidity and accessibility for U.S. investors
• Strategic step towards listing on a senior national stock exchange in the U.S.

Negative

• Current trading restrictions for U.S. investors on OTC Pink Market
• Need to demonstrate compliance with reporting and disclosure requirements for OTCQB upgrade

Toronto, Ontario--(Newsfile Corp. - August 16, 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 begun the process to have its shares listed for trading on the OTCQB Market in the U.S.

Tenet's shares are currently listed on the OTC Market's Pink Market, which provides some measure of limited and restricted U.S. trading. To be eligible for the upgrade to the OTCQB Market, Tenet will have to demonstrate that it is current in its reporting and disclosure materials. Tenet's common shares last traded on the OTCQB Market in September 2020, followed by a listing on the OTCQX Market for about a year until September 2021 when the Company's shares briefly traded on the NASDAQ Capital Market Exchange.

With the move to have its shares listed on the OTCQB Market, Tenet aims to remove the limits and restrictions for U.S. investors to trade its common shares, and to pave the way for the listing of its common shares on a senior national stock exchange in the U.S.

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/220175

FAQ

What is Tenet Fintech Group's current stock symbol on the OTC Markets?

Tenet Fintech Group's current stock symbol on the OTC Markets is PKKFF.

Why is Tenet Fintech Group (PKKFF) seeking to list on the OTCQB Market?

Tenet is seeking to list on the OTCQB Market to remove trading restrictions for U.S. investors and prepare for a potential future listing on a senior national stock exchange in the U.S.

When did Tenet Fintech Group (PKKFF) last trade on the OTCQB Market?

Tenet Fintech Group's common shares last traded on the OTCQB Market in September 2020.

What requirements must Tenet Fintech Group (PKKFF) meet to upgrade to the OTCQB Market?

To upgrade to the OTCQB Market, Tenet Fintech Group must demonstrate that it is current in its reporting and disclosure materials.