Mr. Mat Cybula reports

TENX PROTOCOLS GOES PUBLIC TO TURBOCHARGE GROWTH OF NEXT-GENERATION BLOCKCHAINS

Tenx Protocols Inc.'s common shares will begin trading on the TSX Venture Exchange under the ticker symbol TNX, effective today, Dec. 10, 2025.

This follows the successful closing of $29.9-million in subscription receipt financings completed in connection with Tenx's go-public transaction, bringing total capital raised in 2025 to over $33-million (inclusive of a $3.5-million seed round completed in March).

Tenx will deploy the proceeds of the offering to directly purchase tokens of high-throughput blockchain networks for the purpose of securing those networks through staking and invest in the company's suite of blockchain infrastructure solutions for its growing roster of customers and users.

The two financings were supported by a strong roster of world-leading digital asset companies and institutional investors, including Borderless Capital, Bonk Contributors, Defi Technologies Inc., Hive Blockchain Technologies Ltd. and Chorus One, among others.

The go-public financing was composed of brokered and non-brokered private placements of subscription receipts, completed at a price of 75 cents per receipt for total aggregate proceeds of $29.9-million, inclusive of in-kind proceeds contributed through digital assets, including SOL, SEI and USDC.

"By listing on the TSX-V, Tenx marks a major milestone and affirms its position as a leading public blockchain infrastructure company," said Mat Cybula, chief executive officer of Tenx Protocols. "This financing and listing broadens participation in our business and fuels our strategy of staking, yield generation and infrastructure deployment across emerging blockchain ecosystems."

"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," said Frank Holmes, chairman of Hive Blockchain.

Tenx provides public markets exposure to the growth of next-generation blockchain networks, including Solana, Sui and Sei, through active participation in staking, validator operations and digital asset treasury management. As adoption accelerates across high performance Layer-1 blockchains, Tenx aims to scale participation while maintaining institutional-grade infrastructure and treasury management standards.

About Tenx and management

Tenx is a technology company focused on generating recurring revenue from the crypto asset economy. The company operates staking infrastructure, seeks to earn cash flow from its inventory of crypto assets, and provides infrastructure, advisory and development services across high-throughput blockchain networks. Through proprietary staking, hosted solutions and strategic protocol partnerships, Tenx gives public market investors exposure to the growth of next-generation blockchains and the broader Web3 ecosystem.

Mr. Cybula and Filip Cybula are seasoned crypto entrepreneurs who have been active in the industry for more than a decade. As co-founders of Cryptiv Inc., an institutional custodial wallet provider, they led the company to a successful acquisition in 2019. They are joined by Geoff Byers, a veteran blockchain developer with more than a decade of experience building secure crypto systems. Mr. Byers previously served as chief technology officer and co-founder of Cryptiv, and later as CTO of Tetra Trust, Canada's first qualified crypto custodian. Together, the founding team brings deep expertise in crypto economics, blockchain engineering and secure infrastructure.

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