Tenet CEO Addresses Charges Filed by AMF

Rhea-AI Summary

Tenet Fintech Group (CSE: PKK) (OTCQB: PKKFF) announced that its CEO, Johnson Joseph, faces charges from l'Autorité des marchés financiers (AMF) following an investigation into possible market manipulation of company securities from April 2020 to November 2021. The investigation, which began in December 2021, could result in fines and prevent Joseph from serving as an officer and director if found guilty. Joseph denies any wrongdoing and maintains the support of Tenet's Board of Directors. He has retained counsel and plans to fight the charges, stating he has always acted with integrity and in shareholders' best interests.

Positive

• Board of Directors maintains support for CEO during investigation

Negative

• CEO faces AMF charges for alleged market manipulation
• Potential removal of CEO from officer and director positions if found guilty
• Legal proceedings may create uncertainty and affect company stability

Toronto, Ontario--(Newsfile Corp. - December 21, 2024) - Tenet Fintech Group Inc. (CSE: PKK) (OTCQB: PKKFF) ("Tenet" or the "Company"), an innovative analytics service provider, owner and operator of the Cubeler® Business Hub, today announced that it was notified that l'Autorité des marchés financiers (the "AMF") has filed charges against the Company's CEO, Johnson Joseph, stemming from an investigation that began in December 2021 into the possible market manipulation of the Company's securities from April 2020 to November 2021.

If found guilty of the charges filed against him, Mr. Joseph could be fined and prevented from serving as an officer and director of Tenet. Mr. Joseph, who continues to have the support of the Company's Board of Directors, denies any wrongdoing and reiterates that he has always acted with integrity and in the best interest of the Company and its shareholders. "I have retained counsel to address the charges filed against me and plan to fight them vigorously," commented Mr. Joseph. "I will make no further comments while the matter is before the courts except to say that I look forward to the opportunity to present my version of the alleged events and to help bring a resolution to the matter as quickly as possible."

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 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

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 release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234889

FAQ

What charges has the AMF filed against Tenet Fintech (PKKFF) CEO?

The AMF has filed charges against CEO Johnson Joseph for possible market manipulation of company securities from April 2020 to November 2021.

What are the potential consequences for Tenet's CEO if found guilty of AMF charges?

If found guilty, CEO Johnson Joseph could face fines and be prevented from serving as an officer and director of Tenet Fintech.

When did the AMF investigation into Tenet Fintech (PKKFF) begin?

The AMF investigation into possible market manipulation began in December 2021.

What period is under investigation for market manipulation at Tenet Fintech (PKKFF)?

The investigation covers possible market manipulation of Tenet's securities from April 2020 to November 2021.

How has Tenet's Board of Directors responded to the AMF charges against their CEO?

Tenet's Board of Directors continues to support CEO Johnson Joseph, who denies any wrongdoing.