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

Executive Summary

• Tenet Fintech Group Inc. disclosed that the Ontario Securities Commission issued a cease‑trade order (FFCTO) on May 7 2025 due to delayed filing of its 2024 annual financial statements and MD&A.
• The company filed the required Annual Filings on October 1 2025 and has applied for both full and partial revocation of the FFCTO; a partial revocation would permit a private placement financing.
• The proposed private placement seeks to sell up to 52 million common shares at $0.05 per share, targeting gross proceeds of up to $2.6 million to fund operations while the OSC review continues.

Key Details

• Cease‑Trade Order (FFCTO): Issued by the OSC on May 7 2025 for failure to file 2024 annual financial statements, MD&A, and officer certifications required under NI 51‑102 and NI 52‑109.
• Full Revocation Application: Submitted to the OSC on October 6 2025 after filing the overdue Annual Filings on October 1 2025.
• Partial Revocation Application: Filed to allow a private placement financing while the full revocation is under review. Approval is required from the OSC and the Canadian Securities Exchange (CSE).
• Private Placement Terms:
• Up to 52 million common shares
• Price: $0.05 per share
• Expected gross proceeds: up to $2.6 million
• Proceeds intended to cover essential operating expenses and maintain the business during the regulatory review.
• No Assurance of Completion: The release states that there is no guarantee the partial revocation will be granted or that the private placement will close on the outlined terms.
• Future Plans: Tenet will issue a further news release once the full revocation is approved and will then seek reinstatement of trading on the CSE.

Notable Quotes

(No direct quotes from executives were included in the release.)