Turnium Technology Group Announces the Closing of the Sale of its TNET Division

TMX Newsfile

Wed, March 18, 2026 at 7:00 AM EDT 6 min read

Vancouver, Canada--(Newsfile Corp. - March 18, 2026) - Turnium Technology Group Inc. (TSXV: TTGI) (FSE: E48) ("TTGI" or "the Company"), a global provider of Technology-as-a-Service (TaaS) solutions and channel-driven IT services, is pleased to announce that the Company and its subsidiary, Tenacious Networks Inc. ("TNET"), have closed the transaction previously announced pursuant to the definitive asset purchase agreement (the "APA") dated February 27, 2026 with Tenacious Services Inc. (the "Purchaser") and have sold the business carried on by TNET of providing information technologies consulting, support, service delivery, equipment, managed services, Microsoft licensing and hosted voice services in British Columbia and parts of the United States (the "TNET Division") to the Purchaser (the "Transaction").

In accordance with the Transaction, Purchaser acquired substantially all of the assets and contractual commitments of the TNET Division and assumed their related liabilities as at the closing and thereafter. The Company believes that the residual assets and liabilities that will remain with TNET will not be material, and the Company anticipates that it will wind up the operations of TNET in due course during its fiscal year for 2026.

The consideration paid by the Purchaser to TNET and the Company is approximately $496,460:

1. settlement in full, by way of release and discharge, any and all obligations of the Company and TNET to Purchaser, including but not limited to the outstanding indebtedness of $197,257.21 for principal and accrued interest under the original indebtedness owed by the Company to the Purchaser relating to the original purchase by the Company of the TNET Division from the Purchaser in February 2021;

2. the assignment of 3,171,958 common shares in the capital of the Company (the "Original Consideration Shares") to TNET (the value ascribed to the Original Consideration Shares is $285,476.22, being the market value at the execution of the APA), which shares were originally issued to the Purchaser by the Company in connection with the original purchase by the Company of the TNET Division from the Purchaser in February 2021; and

3. $13,727.83 to TNET in connection with certain termination fees for previously leased premises relating to the TNET Division.

The Transaction constitutes a non-arm's length transaction within the meaning of the policies of the TSXV, given that Aaron Patton is the sole shareholder of the Purchaser and also the President of the TNET Division. As a result, the completion of the Transaction is subject to the approval of the TSXV. No finder's fees are payable in connection with the Transaction. Both the Purchaser and Aaron Patton are not a "related party" to the Company as defined under MI 61-101 as Aaron Patton is not a director or officer of the Company and the Purchaser owns less than 2% of the outstanding common shares of the Company. No current director or officer of the Company has any direct or indirect beneficial interests in Tenacious Services Inc. or in the proposed Transaction other than as acting as a director or officer of the Company.