Tenet Announces Update to OSC Disclosure Record Review and Partial Revocation Application of Failure to File Cease Trade Order

Core Viewpoint - Tenet Fintech Group Inc. is currently facing a cease trade order (FFCTO) from the Ontario Securities Commission due to delays in filing its annual financial statements and related disclosures for the year ended December 31, 2024, and is working towards resolving this issue [1] Group 1: Company Update - The FFCTO was issued on May 7, 2025, due to the company's failure to file required annual financial statements and certifications [1] - The company filed the overdue annual financial statements on October 1, 2025, and submitted a full revocation application to the OSC on October 6, 2025 [1] - The company has agreed to refile certain past management discussion & analysis (MD&As) that were deemed deficient, with expectations to complete these filings at the end of the review process [1] Group 2: Financial Actions - While awaiting the review of the full revocation application, the company submitted a partial revocation application to allow for a private placement financing to maintain operations [2] - The proposed private placement aims to sell up to 52 million common shares at a price of $0.05 per share, potentially raising up to $2.6 million [3] - There is no guarantee that the partial revocation application will be approved or that the private placement will be completed as planned [3] Group 3: Future Plans - The company intends to issue a news release upon approval of the full revocation, after which it will apply for reinstatement of trading of its securities on the Canadian Securities Exchange [4]