Mr. Evrard Nkwemi reports

TENET PROVIDES CUBELER BUSINESS HUB CREDIT ACTIVITY UPDATE AHEAD OF NEW MODULES RELEASE

Tenet Fintech Group Inc. has provided an update on loans and credit facilitated by the platform's financing module in Canada ahead of the upcoming release of the platform's networking and advertising modules.

The company reported that between July, 2023, and June, 2024, loans and credit in the form of receivables financing, merchant cash advances, term loans, lines of credit and inventory financing totalling $976,500 were awarded on the platform. That amount was divided amongst small- and medium-sized enterprises (SMEs) operating in the construction sector, professional, scientific and technical services, wholesale trade, accommodation and food services industries, management of companies and enterprises, and real estate, rental and leasing sectors. Loans and credit awarded to businesses in the professional, scientific and technical services sector led the way, accounting for 46.08 per cent of the total amount. That was followed by construction at 36.97 per cent, accommodation and food services at 11.26 per cent, management of companies and enterprises at 3.89 per cent, wholesale trade at 1.02 per cent, and finally real estate, rental and leasing at 0.77 per cent. The loans and credit awarded on the platform during that span ranged from $7,500 to $300,000.

"After the brief disruption in our operations during the months of May and June of 2023, we are very pleased to see that credit activity on the platform has not only gotten back on track, but that we're actually on pace to surpass the total amount of credit facilitated by the platform in 2023," commented Evrard Nkwemi, director of financial institution relationships of the company's Cubeler subsidiary. "But what I'm most excited about is how much incredible insight we're already getting from the data collected on the platform even before the arrival of the networking and advertising modules truly bring the hub to life. Just through simple analysis of the lending activity and the underlying variables used to prequalify the SMEs, we're able to learn so much about how certain industrial sectors may be faring. Of course, this type of insight is just the tip of the iceberg when it comes to what will be available through our ie-Pulse product offering later this year. And that's just one of the reasons why everyone at Tenet is so unapologetically enthusiastic about the company's future."

About Tenet Fintech Group Inc.

Tenet Fintech Group is the parent company of a group of innovative financial technology and artificial intelligence (AI) companies.

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