Mr. Johnson Joseph reports

TENET SECURES CREDIT FACILITY OF UP TO $5M AND TERMINATES PRIVATE PLACEMENT FINANCING

Tenet Fintech Group Inc. has secured a credit facility of up to $5-million from Petiana Capital Inc. (PCI) and has terminated its continuing private placement of units of convertible debentures and warrants, whereby the company was looking to raise an additional $5-million.

The credit facility agreement between Tenet and PCI allows Tenet to draw down up to $5-million over a 12-month period by sending drawdown notices to PCI. No drawdown notice can exceed $500,000 and there must be at least five business days between each drawdown notice. Tenet will pay PCI interest at an annual rate of 10 per cent on any amount drawn from the credit facility and will have up to 24 months from the date of the drawdown notice to repay the amount advanced by PCI. For each dollar advanced by PCI under the terms of the agreement, PCI will receive one warrant to purchase one common share of Tenet at the greater of 25 cents or the price that represents a 25-per-cent premium to Tenet's share price at the time of issuance of the drawdown notice. The credit facility is guaranteed by assets pledged by a collection of Tenet shareholders in a separate collateral agreement between PCI and the shareholders.

The company plans to use the funds available to it from the credit facility to: (1) market the Business Hub following the launch of its networking and advertising modules, which will make more data available for its ie-Pulse industrial index offering; (2) complete the ie-Pulse platform; and (3) launch the ie-Pulse marketing campaign to have the first data plans sold in either late Q3 or early Q4.

"We couldn't be more excited about today's announcement," commented Tenet president and chief executive officer Johnson Joseph. "It's no secret that capital has been hard to come by lately in the small-cap tech sector. We were working on a financing that, when closed, would have seen the company potentially have to issue an additional 33.3 million shares and 33.3 million warrants. Being able to access the same amount of capital with only potentially having to issue five million warrants is a big win for the company and its shareholders. With this facility in place and the termination of the financing, we are now able to complete our forecasts for 2024 and 2025 and activate our long-awaited investor communication plan, which will include the unveiling of our new website in the coming weeks. Our entire focus can finally be devoted to having our first Canadian data plan sales in the second half of this year and create value for our shareholders."

About Tenet Fintech Group Inc.

Tenet Fintech Group 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 (business-to-business) transactions among its members.

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