INEO data shows restricting shopping on New Year’s Eve Caused Customer Traffic to increase by 188% in the hour before closing

Surrey, BC – January 20, 2021 – An analysis by INEO Tech Corp. (TSX-V: INEO) (“INEO” or the “Company”), an innovative provider of location based digital advertising, data analytics and loss prevention solutions for retailers shows restricting retail store hours during the pandemic generates a troubling rise in consumer traffic patterns, challenging social distancing and crowd controls.

Using The Welcoming System, INEO’s network of digital advertising and anti-theft devices located at the entrance of retail stores, INEO was able to analyze traffic patterns of more than 800,000 shoppers in the month of December, including on New Year’s Eve, when BC liquor stores were ordered to close at 8 PM.

Virtually the identical total number of shoppers visited liquor stores on New Year’s Eve as Christmas Eve (40,817 vs 42,026). However, on New Year’s Eve, in the hours before the BC Health mandated 8:00PM closing, store traffic increased by 188% over the Christmas Eve customer traffic.

This data analysis clearly shows restricting store hours does not reduce the number of shoppers. In fact, it creates the COVID Crunch, where the last hour of the shopping day results in congestion and over-crowding which challenges social distancing efforts. INEO is publishing this data to assist public health decision makers, businesses, and the public to better manage this phenomenon during the COVID-19 pandemic.

While the Company is publishing this overcrowding effect on key holiday dates in December, the effect can be seen whenever retail hours are restricted in stores which provide essential services.

“Public health officials in Canada have done an amazing job managing us through the COVID crisis in the face of a large number of unknowns, one of those being what happens when retail shopping hours are restricted,” said Kyle Hall, CEO of INEO. “INEO now has the data which shows restricting shopping hours does not reduce the number of shoppers going to retail stores, but actually may increase risk.”

Hall added, “The same number of people are going to shop regardless, so when hours are restricted, this forces the stores to be busier than they normally would be in the hours they are open. Our data suggests that restricting retail store hours produces situations which could increase COVID-19 transmission risks. The BC Health order to close liquor stores early on New Year’s Eve did not reduce the number of shoppers, it made the traffic in the hour before closing spike by 188%, creating what we have been calling the COVID Crunch.”

INEO is continuing to track and share this data, to support all parties in protecting workers and the public during the COVID-19 pandemic.

About INEO:

INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., provides retailers with the INEO Welcoming Network, a patented in-store and online location-based advertising network which enhances the customer experience, monetizes the entrances of retail stores and protects against retail theft. The INEO Welcoming Network is a revolutionary cloud-based digital advertising and data analytics system, which sends customized advertising to digital screens integrated with theft detection sensor gates at the entrance of retail stores. INEO is headquartered in Surrey, Canada and publicly traded on the TSX-Venture Exchange under the symbol “INEO”. For more information, please visit www.ineosolutionsinc.com.

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 Company’s Annual Information Form dated December 3, 2020 (see www.sedar.com). 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.

For further information:

Pardeep S. Sangha,

Investor Relations

INEO Tech Corp.

[email protected]

(604) 572-6392

Graph’s and images are available on request.