An anonymous director reports

TENET CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT OF UP TO CAD$3M

Tenet Fintech Group Inc. has closed the second tranche of a non-brokered private placement financing, pursuant to which it has issued 4,291,846 units at a price of 11.65 cents per unit for gross proceeds of $500,000.06. The second-tranche offering is part of a non-brokered private placement financing where the company may sell units for proceeds of up to $3-million.

Each unit comprises one common share of the company and one common share purchase warrant, with each warrant exercisable to purchase one common share at a price of 15.5 cents any time prior to June 22, 2025, subject to certain terms and conditions. The securities issued are not subject to any resale restrictions.

The second-tranche offering was conducted through a private placement to a Cayman-segregated portfolio company, an open-ended fund managed by an investment firm headquartered in Hong Kong. The second-tranche offering was executed in compliance with the applicable exemptions outlined in Ontario Securities Commission Rule 72-503 -- Distributions Outside Canada.

Looking ahead, the company is committed to completing the remaining tranches of units in the offering within a six-month time frame. The pricing of each subsequent tranche will be determined at the time of issuance, adhering to the pricing policies set forth by the Canadian Securities Exchange.

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 annual general meeting, 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.

About Tenet Fintech Group Inc.

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

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