Tenet Fintech Group Inc. Provides Update on Ongoing Private Placement Financing
Tenet Fintech Group Inc. Delays Private Placement Financing Closing Date
In a surprising turn of events, Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) announced today that it will be delaying the closing date of its ongoing private placement financing of units of convertible debentures and warrants. The company had initially set a deadline for the financing to be closed by a certain date, but due to unforeseen circumstances, they have extended the deadline to accommodate a group of strategic investors.
The new deadline for the closing of the financing has been set for August 15, 2024, with a first tranche of at least $2,500,000 to be closed by July 19, 2024. Despite the recent drop in the company’s share price, all other terms and conditions of the financing will remain the same.
“This is not the announcement that we were expecting to make today when we said at the AGM that we would be making an announcement about the financing this week,” commented Tenet President and CEO Johnson Joseph. “Unfortunately, something unexpected beyond anyone’s control happened and we will have to delay that announcement.”
The company reassured shareholders that they have been in constant communication with the other parties involved and are hopeful that the financing will be closed by the new agreed-upon timelines. Transparency is key for Tenet, and they wanted to keep their shareholders informed of any developments regarding the financing, which is crucial to the company’s objectives for 2024.
Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence (AI) companies. Their subsidiaries offer various analytics and AI-based products and services to businesses, capital markets professionals, government agencies, and financial institutions through the Cubeler® Business Hub.
For more information about Tenet Fintech Group Inc. and their ongoing private placement financing, interested parties can visit their website at https://www.tenetfintech.com/ or contact Mayco Quiroz, Chief Operating Officer at 514-340-7775 ext.: 510 or investors@tenetfintech.com.
It is important to note that forward-looking statements in this press release are subject to risks and uncertainties that could cause actual results to differ from the company’s projections. The company assumes no obligation to update or revise forward-looking statements unless required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Market Regulator accepts responsibility for the adequacy or accuracy of this release.
(Source: Tenet Fintech Group Inc.)
