Tenet Secures C$2.76M Financing After OSC Partially Revokes Cease Trade Order
THC•The Ontario Securities Commission partially revoked Tenet Fintech Group’s failure-to-file cease trade order on May 25, 2026. The company plans to issue up to 55.2 million shares at C$0.05 each to raise C$2.76 million in a private placement subject to regulatory approvals and hold periods.
1. Partial Revocation of Cease Trade Order
On May 25, 2026, the Ontario Securities Commission issued a partial revocation of the failure-to-file cease trade order that had been in place since May 7, 2025, restoring the company’s ability to trade its securities under specified conditions. This action addresses outstanding continuous disclosure filings and paves the way for resumption of normal trading activities once all regulatory requirements are met.
2. Details of Private Placement Financing
Tenet Fintech Group intends to proceed with a non-brokered private placement of up to 55.2 million common shares at C$0.05 per share, targeting gross proceeds of C$2.76 million. This financing will be conducted on a prospectus-exempt basis with accredited and offshore investors, subject to customary regulatory approvals and acknowledgements related to the existing cease trade order.
3. Conditions and Hold Periods
All shares issued in the private placement will be subject to a statutory hold period of four months plus one day from closing. Investors must acknowledge that securities remain under the original prohibition until a full revocation is granted and that the partial revocation will terminate upon either closing of the financing or July 25, 2026, whichever occurs first.
