PKKFF - Tenet Fintech intends to complete C$3M private placement of units

2023-06-01 10:40:37 ET

• Fintech technology services provider Tenet Fintech Group ( OTCPK:PKKFF ) said on Thursday that it intends to complete up to C$3M non-brokered private placement of units.
• The private placement will be conducted in tranches of a minimum of C$300K per tranche over a period of six months.
• The first tranche offering will be comprised of 2.14M units, offered at C$0.14 per unit.
• Each unit in the first tranche offering will comprise of one share and one share purchase warrant, which enables the holder to purchase one share at C$0.175 per share.
• The first tranche will be offered to Cayman Segregated Portfolio Company, Open-Ended Fund, managed by an investment firm headquartered in Hong Kong.
• The first tranche offering is expected to close on June 7.
• The net proceeds from the private placement are intended to be used for working capital requirements and other general corporate purposes.
• Source: Press Release

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