Tenet’s acting managing director announces plans for streamlining operations

by James · May 2, 2023

Toronto, Ontario – (Newsfile Corp. – May 1, 2023) – Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) (“Tenet” or the “Company”), an innovative provider of fintech technology services and operator of Cubeler™ Business Hub, announces plans to streamline operations today.

“The independent directors reaffirm our commitment to act in the best interests of the company, provide oversight and guidance to management, as well as continue to comply with all statutory requirements and improve corporate governance,” said Carol Penhale, chairman. “We look forward to working with Mr. Wahidy and the management team as the company executes its strategy.”

“We have two businesses – one in Canada and the other in China. Both businesses focus on small and medium-sized enterprises (SMEs) and use a data-focused strategy to provide an expanded set of services to SMBs across various industry sectors through our platforms . The company is taking immediate steps to streamline operations and improve efficiency to better support these services,” Mr. Wahidy said.

Liang “Golden” Qiu, CEO of the company’s China operations, stated, “I remain committed to the company and look forward to working with Mr. Wahidy to further align our global operations.”

Forward-looking information

Certain statements included in this presentation constitute “forward-looking statements” under Canadian securities laws, including statements based on management’s judgment and assumptions and publicly available information with respect to the Company. By their nature, forward-looking statements involve risks, uncertainties and assumptions. The Company cautions that its assumptions may not be realized and that current economic conditions make such assumptions, even if reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements can be identified by the use of terminology such as “believes”, “expects”, “assumes”, “assumes”, “outlooks”, “plans”, “targets” or other similar words. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that could cause actual results, performance or performance of the Company to differ materially from the outlook or any future results, performance or performance 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 press release include, but are not limited to, holding companies with significant operations in China; general economic and business conditions, including factors affecting the Company’s operations in China such as pandemics (eg: COVID-19); development of legislation and/or regulations; Global economic 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; uncertainty related to investigations, proceedings or other types of claims and legal proceedings; timing and completion of capital programs; liquidity and capital resources, negative operating cash flow and additional financing, dilution from additional financing; financial performance and timing of capital; and other risks detailed from time to time in reports filed by the Company with securities regulatory authorities in Canada, the United States or other jurisdictions. We refer potential investors to the section “Risk and uncertainty” in the company’s MD&A. The reader is cautioned to consider these and other risks and uncertainties carefully and not to place undue reliance on forward-looking information.

Forward-looking statements reflect information as of the date they are made. The Company undertakes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances or changes in belief, except as required by applicable securities laws. In the event the Company updates a forward-looking statement, no inference should be drawn that the Company will make any further updates with respect to this statement, related matters or any other forward-looking statement.

All amounts are in Canadian dollars unless otherwise noted.

About Tenet Fintech Group Inc.:

Tenet Fintech Group Inc. is the parent company of a group of innovative companies in financial technology (Fintech) and artificial intelligence (AI). All references to Tenet in this press release, unless explicitly stated, include Tenet and all of its subsidiaries. Tenet’s subsidiaries provide various analytics and AI-based services to companies and financial institutions through the Business Hub, a global ecosystem where analytics and AI are used to create opportunities and facilitate B2B transactions among members. Please visit our website at: http://www.tenetfintech.com.

For more information, please contact:

Tenet Fintech Group Inc.
Christina Boyd, Director, Investor Relations
416-428-9954
[email protected]

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