Tenet signs CAD$225M minimum guarantee annual services agreement
Toronto, Ontario--(Newsfile Corp. - August 14, 2026) - Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) (" Tenet " or the " Company "), an innovative analytics service provider, owner and operator of the Cubeler Business Hub, today announced that it has signed an agreement with Sum Hung Hang Tai Trading Ltd. (" Sum Trading ") whereby Sum Trading will purchase products and services through the Company's GoldRiver platform worth a minimum of CAD$225 million per year over a 3-year period, valuing the agreement at $675 million over its duration (the " Agreement ").
The Agreement is similar to the agreement signed by Tenet in the fourth quarter of 2025 with Chengdu Honglongyi Trading Ltd., which has largely contributed to putting Tenet's revenues on track to exceed CAD$100 million in 2026.
Sum Trading is a construction and building materials distributor supplying materials to more than 1,000 construction companies with projects primarily in China's western provinces, including in Chongqing, Guizhou, Shanxi, Sichuan and Yunnan. Sum Trading was looking to expand its offerings of both raw materials and finished products to existing clients, and selected Tenet's GoldRiver platform as its main purveyor partly because of the large inventory of products and materials available through the platform as well as the logistical value-added services it offers.
The Agreement was brokered by Nanjing Kwok Chi Management Ltd. (" KCM "), who will receive a commission representing 7.5% of the minimum guaranteed value of the first year of the Agreement, payable in any combination of cash and/or common shares at Tenet's sole discretion, subject to approval of the Canadian Securities Exchange and applicable securities regulations. Under the terms of Tenet's agreement with KCM, KCM has agreed not to sell, gift or otherwise dispose of, any portion of the commission received in common shares for at least 12 months until after the common shares were issued. Tenet and KCM also agreed that if the guaranteed minimum sales are not achieved within the first twelve months following the signing of the Agreement, KCM will refund to Tenet a cash amount representing the difference between the commission paid and the amount that would have been paid if calculated on the actual realized first year revenue of the Agreement.
In light of today's announcement, Tenet intends to update its full-year 2026 revenue guidance shortly following the filing of its financial results for the second quarter of 2026, expected by the end of August 2026.
About Tenet Fintech Group Inc.:
Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence (AI) companies. All references to Tenet in this news release, unless explicitly specified, include Tenet and all its subsidiaries. Tenet's subsidiaries offer various analytics and AI-based products and services to businesses, capital markets professionals, government agencies and financial institutions either through or by leveraging data gathered by the Cubeler Business Hub, a global ecosystem where analytics and AI are used to create opportunities and facilitate B2B transactions among its members. Please visit our website at: https://www.tenetfintech.com/ .
For more information, please contact:
Tenet Fintech Group Inc. Mayco Quiroz, Chief Operating Officer 514-340-7775 ext.: 510 investors@tenetfintech.com
CHF Capital Markets Cathy Hume, CEO 416-868-1079 ext.: 251 cathy@chfir.com
Follow Tenet Fintech Group Inc. on social media: X: @Tenet_Fintech Facebook: @Tenet LinkedIn: Tenet YouTube: Tenet Fintech
Forward-looking information
Certain statements in this press release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of Tenet to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release are available in the "Risks and Uncertainties" section of Tenet's Management's Discussion and Analysis (MD&A) filed with Canadian securities regulators and available via the System for Electronic Document Analysis and Retrieval (SEDAR+) under Tenet's profile at www.sedarplus.ca . Readers are urged to carefully consider these risks and uncertainties and not to place undue reliance on forward-looking statements.
Forward-looking statements reflect information as of the date on which they are made. The Company assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event the Company does update any forward-looking statement, no inference should be made that the Company will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309611
Newsfile Corp.
August 14, 2026 - 4:48 AM PDT
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