Tenx shares begin trading on TSX-V

Executive Summary

• Tenx Protocols Inc. has begun trading on the TSX Venture Exchange under the ticker symbol TNX, marking its transition to a public company.
• The company successfully closed $29.9 million in subscription receipt financings in connection with the listing, bringing total 2025 capital raised to over $33 million.
• Proceeds will be used to purchase tokens of high-throughput blockchain networks for staking and to invest in blockchain infrastructure solutions.

Key Details

• Listing Details: Common shares began trading on the TSX Venture Exchange under the ticker symbol TNX, effective December 10, 2025.
• Financing Structure: The go-public financing consisted of brokered and non-brokered private placements of subscription receipts.
• Price and Proceeds: Subscription receipts were priced at 75 cents per receipt, generating total aggregate proceeds of $29.9 million.
• In-Kind Contributions: The $29.9 million total includes in-kind proceeds contributed through digital assets, specifically SOL, SEI, and USDC.
• Total Capital Raised: Total capital raised in 2025 exceeds $33 million, inclusive of a $3.5 million seed round completed in March.
• Use of Proceeds: Funds will be deployed to directly purchase tokens of high-throughput blockchain networks for securing those networks through staking and to invest in the company's suite of blockchain infrastructure solutions.
• Investor Roster: The financings were supported by Borderless Capital, Bonk Contributors, Defi Technologies Inc., Hive Blockchain Technologies Ltd., and Chorus One.
• Business Model: Tenx generates recurring revenue from the crypto asset economy via staking infrastructure, cash flow from crypto asset inventory, and infrastructure/advisory services across high-throughput blockchain networks.
• Target Ecosystems: The company focuses on next-generation blockchain networks including Solana, Sui, and Sei.

Notable Quotes

• "By listing on the TSX-V, Tenx marks a major milestone and affirms its position as a leading public blockchain infrastructure company. This financing and listing broadens participation in our business and fuels our strategy of staking, yield generation and infrastructure deployment across emerging blockchain ecosystems." — Mat Cybula, CEO
• "Hive was the first public crypto infrastructure company, and we see ourselves as the first of many. With this investment in Tenx, we are backing an experienced team that shares our vision, can scale rapidly, and will build new spokes in the global fintech and crypto ecosystem." — Frank Holmes, Chairman, Hive Blockchain