Tenet Signs Revenue Sharing Partnership Agreement with PetroChina to Service Gas Station Convenience Stores

Rhea-AI Summary

Tenet Fintech Group Inc. (CSE: PKK) (OTC: PKKFF) announced a revenue-sharing partnership with PetroChina to sell coffee at PetroChina gas station convenience stores. This initiative aims to capitalize on the growing coffee market in China, projected to reach USD $40 billion by 2025. The company will collaborate with Mellower Coffee Ltd. to install automated coffee machines, which will enhance product accessibility for consumers. Initial installations will occur in 20 stores in Guangxi by year-end 2021, with plans for expansion into additional locations in 2022.

Positive

• Partnership with PetroChina expands market reach in the rapidly growing coffee sector in China.
• Initial deployment of coffee machines in 20 stores indicates a strong start and growth potential.
• Revenue-sharing model allows for diversified income streams through both coffee sales and advertising.

Negative

• None.

TORONTO, Dec. 9, 2021 /PRNewswire/ - Tenet Fintech Group Inc. (CSE: PKK) (OTC: PKKFF) ("Tenet" or the "Company"), an innovative Fintech and AI service provider and manager of the Business Hub™, today announced that it has signed a revenue sharing partnership agreement with PetroChina for the sale and distribution of coffee at PetroChina gas station convenience stores.

Long known as a tea drinking nation, the popularity of coffee has exploded in China in recent years. The country has quickly become one of the world's largest coffee consumption markets with sales expected to reach USD$40B by the end of 2025. Coffee is becoming such an important commodity in China that earlier this year, the government launched the Hongqiao International Coffee Harbor in Shanghai to help promote trading and everything coffee-related throughout the country. PetroChina is looking to tap into that market by leveraging its country-wide network of over 20,000 uSmile convenience stores to provide Chinese consumers a quick and convenient way to get their daily cups of coffee. Tenet will work with automated coffee machine distributor Mellower Coffee Ltd. to have coffee distribution machines financed and installed at the PetroChina uSmile stores. In addition to distributing coffee, the machines (seen here) also feature an advertisement display screen, which will allow the project to generate advertising revenue along with the revenue produced from the sale of coffee. Mellower Coffee will be responsible for providing, installing and maintaining the machines, while Tenet will collect, monitor and manage all data related to the sale of coffee and ads for the project. PetroChina will collect the revenue and remit to Tenet its portion of the revenue based on the agreement between the parties. Tenet will then pay Mellower Coffee for its role in the project according to a separate agreement between Tenet and Mellower Coffee. The coffee distribution machines will first be installed in 20 uSmile stores by the end of 2021 in the autonomous region of Guangxi with plans to begin expanding to other stores across the country in 2022.

About Tenet Fintech Group Inc.:
Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence companies. Tenet's subsidiaries provide various analytics and AI-based services to financial institutions and businesses through the Business Hub™, an ecosystem where data analysis and artificial intelligence are used to facilitate transactions among its members. For more information: http://www.tenetfintech.com

For more information, please contact:
CHF Capital Markets	MZ Group – MZ North America	Tenet Fintech Group
Cathy Hume, CEO	Mark Schwalenberg, CFA	Barry Ellison, Director of Marketing and Communications
416-868-1079 ext.: 251	1-312-261-6430	514-340-7775 ext.: 521
cathy@chfir.com	mark.schwalenberg@mzgroup.us	bellison@tenetfintech.com

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Forward-Looking Statements / Information:

This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth and listing plans, using words including "anticipate", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.

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SOURCE Tenet Fintech Group.

FAQ

What is the new partnership between Tenet Fintech Group and PetroChina?

Tenet Fintech Group has signed a revenue-sharing partnership with PetroChina to sell coffee at PetroChina gas station convenience stores.

What is the significance of the coffee market in China for Tenet Fintech Group?

The coffee market in China is expected to reach USD $40 billion by 2025, presenting a significant growth opportunity for Tenet through its partnership.

When will the coffee machines be installed at PetroChina stores?

The coffee distribution machines will be initially installed in 20 PetroChina uSmile stores by the end of 2021.

How will Tenet benefit from the coffee distribution partnership?

Tenet will benefit from a revenue-sharing agreement and will manage data related to coffee sales and advertisements.