Ms. Christina Boyd reports

TENET ANNOUNCES PRODUCT PLANS IN CANADA AFTER REVIEW OF TECHNOLOGY STACK; BENCHMARKING PRODUCT GEARED TO SMES TO BE LAUNCHED; TENET ALSO ANNOUNCES SECOND TRANCHE OF THE PRIVATE PLACEMENT OF UP TO CAD$3M

Tenet Fintech Group Inc. has commenced a review of technology earlier this month to assess fit-for-purpose technology for deployment and revenue generation for the company.

Given the company's current state of technology readiness, financing, skill sets and revenue opportunities, the independent members of the board of directors of Tenet approved a 90-day plan to launch a benchmarking product geared at small- and medium-sized businesses to help them understand their strengths, weaknesses and where to optimize their business needs compared with other SMEs (small- and medium-sized enterprises) in general and in their specific business niches.

The decision to focus on the data and servicing the SMEs with benchmarking products to leverage the company's existing capabilities was made as a viable product offering with the nearest path to revenue for build-out cost and most promising for demand amongst SMEs which are underserviced in the area of peer benchmarking.

The company expects to share plans on the SME benchmarking platform at its upcoming annual general meeting (AGM). Tenet's management also encourages the company's shareholders to vote for management's nominees for election to Tenet's board of directors. In addition, Tenet reminds the company's shareholders that the deadline to vote is prior to 10 a.m. ET on Friday, June 23, 2023.

For any questions or more information with respect to the AGM, which will be held on Tuesday, June 27, 2023, at 10 a.m. ET, please contact TMX Investor Solutions at 1-800-549-6746 toll-free in North America, or 1-201-806-7301 outside of Canada and the United States, or by e-mail at info_TMXIS@TMX.com.

Additionally, the company announced today that it intends to complete the second tranche of the non-brokered private placement financing of units of the company for proceeds of up to $3-million, conducted in tranches over a period of six months. The second tranche offering will be $500,000.06 and will comprise 4,291,846 units.

Each unit sold in the second tranche offering (referenced below) will comprise one common share of the company and one common share purchase warrant to purchase one common share at a price of 15.5 cents per share any time prior to two years following the closing of the second tranche offering, subject to certain terms and conditions.

The second tranche offering of 4,291,846 units is offered at a price of 11.65 cents per unit, for gross proceeds of $500,000.06. The second tranche offering will take place by way of a private placement to a Cayman segregated portfolio company, open-ended fund, managed by an investment firm headquartered in Hong Kong. It is the intention of the parties that the offering of the units will be made in reliance on the exemptions available in OSC (Ontario Securities Commission) Rule 72-503 -- Distributions Outside Canada. The company expects to close the second tranche offering on June 22, 2023. Subsequent tranches of units in the offering will be priced at the time of each such tranche, within the pricing policies of the Canadian Securities Exchange (CSE).

The company intends to use the net proceeds from the private placement for working capital requirements and for other general corporate purposes, including safeguarding the company's financial position in the short term and allowing the company to meet its payroll obligations.

About Tenet Fintech Group Inc.

Tenet Fintech Group is the parent company of a group of innovative financial technology (fintech) companies. All references to Tenet in this news release, unless explicitly specified, includes Tenet and all its subsidiaries. Tenet's subsidiaries provide various analytics and AI (artificial intelligance) based services to businesses and financial institutions through the Business Hub, a global ecosystem where analytics and data are used to create opportunities and facilitate B2B (business-to-business) transactions among its members.