Tenet to Add Support for New Accounting Software Packages to Business Hub

Rhea-AI Summary

Tenet Fintech Group (CSE: PKK) (OTCQB: PKKFF) has announced plans to expand the compatibility of its Cubeler Business Hub by adding support for at least three new accounting software packages. The platform currently supports the top three accounting software packages used by Canadian small businesses, which represent approximately 70% market share according to Codat

With Statistics Canada reporting that 97.8% of Canada's 1.23M businesses are small businesses, Tenet aims to remove entry barriers for SMEs by supporting additional accounting software packages, particularly those used by medium-sized businesses and specific industries. This expansion also aligns with the recent launch of Tenet's ie-Pulse macroeconomic data platform, potentially accelerating the introduction of new indexes, including coverage of the manufacturing sector.

Positive

• Current platform supports 70% of small business market share
• Access to 1.23M potential business customers in Canada
• Platform expansion to include medium-sized businesses
• Strategic alignment with ie-Pulse platform development

Negative

• current software compatibility
• Missing 30% of small business market share

Toronto, Ontario--(Newsfile Corp. - March 7, 2025) - 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 will be adding support for at least three new accounting software packages to the Business Hub.

The Company's Business Hub currently supports the top three accounting software packages used by small businesses in Canada, combining for a market share of almost 70%, according to the most recent statistics published by Codat Ltd. Although Stattistics Canada indicates that 97.8% of Canada's 1.23M businesses are small businesses, and being able to support almost 70% of them through the Business Hub is a good start, the Company believes that it needs to remove all possible barriers to entry for SMEs to the Business Hub by adding support for accounting software packages used by businesses who may fall into the medium sized category or operate in industries where using small business accounting software may not be suitable. Tenet's decision to support more accounting software packages is also motivated by the recent launch of the Company's ie-Pulse macroeconomic data platform. Tenet believes the additional software support will help the Company accelerate the launch of new indexes on ie-Pulse to cover industries such as the manufacturing sector, which is widely seen as a valuable economic barometer.

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

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 include, but are not limited to, holding company with significant operations in China; general economic and business conditions, including factors impacting the Company's business in China such as pandemics and COVID-19; legislative and/or regulatory developments; Global Financial conditions, repatriation of profits or transfer of funds from China to Canada, operations in foreign jurisdictions and possible exposure to corruption, bribery or civil unrest; actions by regulators; uncertainties of investigations, proceedings or other types of claims and litigation; timing and completion of capital programs; liquidity and capital resources, negative operating cash flow and additional funding, dilution from further financing; financial performance and timing of capital; and other risks detailed from time to time in reports filed by Tenet with securities regulators in Canada. Reference should also be made to Management's Discussion and Analysis (MD&A) in Tenet's annual and interim reports, Annual Information Form, 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, for a description of major risk factors relating to Tenet. Although Tenet has attempted to identify certain factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

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 release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243659

FAQ

How many accounting software packages does Tenet's Business Hub currently support for PKKFF?

The Business Hub currently supports the top three accounting software packages used by Canadian small businesses, representing about 70% market share.

What is the market size potential for Tenet's Business Hub in Canada as of March 2025?

According to Statistics Canada, there are 1.23M businesses in Canada, with 97.8% being small businesses.

Why is PKKFF expanding its accounting software support in 2025?

To remove barriers for SMEs and medium-sized businesses, while supporting the launch of new indexes on their ie-Pulse platform, particularly in sectors like manufacturing.

What is the connection between PKKFF's accounting software expansion and ie-Pulse platform?

The expanded software support will help accelerate the launch of new indexes on ie-Pulse, particularly for industries like manufacturing sector.