INEO Announces Corporate Update
Surrey, British Columbia--(Newsfile Corp. - March 31, 2025) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the " Company" or " INEO"), a leading provider of loss prevention and in-store retail media, today delivers a corporate update.
"INEO has had a strong start to the year in terms of deals and relationships, which will provide strength to the business going forward," said Kyle Hall, CEO of INEO. "Founder, President and Chairman, Greg Watkin, and I have both been to several trade shows with our key partners in the US and in Europe while also visiting new customers and prospects in each market. This has resulted in our first installs of INEO Welcoming Systems in the UK and in Turkey. New sales presentations are happening across the US as our new partner there ramps up activity. Tariffs are a potential concern but not affecting us in any measurable way. Having our European and UK initiatives launched will give us some degree of diversification away from the US market."
Recapping some of the most recent Company initiatives is as follows:
On January 13, 2025, the Company announced a strategic technology agreement with Sensormatic Solutions, the leading global retail solutions portfolio of Johnson Controls. The agreement is for a license to INEO's patents and manufacturing know-how, and the collaboration will integrate INEO's patented Welcoming System technology with Sensormatic Solutions' industry-leading loss prevention tools. INEO demonstrated its Welcoming System as part of the Sensormatic Solutions showcase during major retail trade shows in New York City and Dusseldorf, Germany earlier this year as well. INEO has sold complete INEO Welcoming Systems to Sensormatic Solutions for use in pilots and demonstration sites.
On January 31, 2025 the Company announced it signed a reseller agreement with Bon Intelligence Inc., a provider of AI driven retail analytics in Turkey. This agreement marked a significant milestone in INEO's international expansion strategy, bringing its advanced technology to one of the most dynamic retail markets in the world. Bon has since installed INEO systems at two leading Turkish retailers. Bon has installed multiple INEO signage systems in Bambi, a high fashion shoe retailer, and has deployed a full INEO Welcoming System in a leading beauty supply retailer.
On March 5, 2025 INEO installed a complete INEO Welcoming System at the head of office location of a large UK retailer and has a commitment for 24 systems to be installed in their stores in approximately 12 weeks time. More details will be released at that time.
INEO's Retail Media network within it's key US-based office supply store customer now has 171 INEO Welcoming systems installed in stores covering over 30 states. In the key southern California media market INEO has over 40 locations installed. Furthermore, INEO is now installing at least three additional screens per store and has a total of 205 screens installed and available for advertising. INEO has changed the management structure of INEO Retail Media to bring it in line with the Company's core objectives. Former INEO Retail Media lead, Salim Tharani via his company 1114270 B.C. LTD, is no longer associated with INEO. INEO's Retail Media division is now being led by Amit Pannu, INEO's VP of Sales. Additionally, INEO has entered into an agreement with Morgan Creek Communications inc. to provide Investor Relations services for the Company.
"INEO remains committed to driving value and executing our core strategic priorities," said Greg Watkin, Founder, President and Chairman of INEO. "We are making strong progress in three key areas: supporting our sales channel partners in deploying INEO products and technology; expanding our office supply store advertising network; and expanding our direct channel reach by securing additional retail customers into our recurring revenue programs."
Per: "Kyle Hall"
Kyle Hall, Chief Executive Officer and Director,
About INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF)
INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., operates the INEO Media Network, a digital advertising and analytics solution for retailers. INEO's patented technology integrates and monetizes digital screens with theft detection sensor gates at the entrance of retail stores. The Company's cloud-based platform uses IoT (Internet of Things) and AI (Artificial Intelligence) technology to deliver customized digital advertising to each retail location based on the demographic mix of customer traffic at each location. The Company also deploys the INEO Welcoming Network technology through a SaaS-based solution to larger retail chains. INEO is headquartered in Surrey, Canada and publicly traded on the TSX-Venture Exchange under the symbol " INEO" and on the OTCQB-Venture Market under the symbol " INEOF".
Future-Oriented Financial Information
To the extent any forward-looking statements in this press release may constitute future-oriented financial information or financial outlooks within the meaning of securities laws, such information is being provided to demonstrate the potential financial performance of INEO and readers are cautioned that this information may not be appropriate for and should not be used for any other purpose and that they should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to the risks set out below under "Forward-Looking Statements".
Forward-Looking Statements
Investors are cautioned that, except as disclosed in the disclosure document, any information released or received with respect to the Company may not be accurate or complete and should not be relied upon. Trading in securities of the Company should be considered highly speculative.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors - including the availability of funds, acceptance of the Company's products, competition, and general market conditions - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed on SEDAR, including the Annual Information Form for the year ended June 30, 2022 filed on SEDAR on November 4, 2022. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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