INEO Announces Fiscal Second Quarter Financial Results
Surrey, BC – February 28, 2025 – INEO Tech Corp. (TSX-V: INEO; OTCQB: INEOF) (the “Company” or “INEO”), a leading provider of AI software solutions for retail analytics, loss prevention and in-store retail media, today announced it has filed its Consolidated Financial Statements and Management’s Discussion and Analysis on SEDAR.com for the Company’s Fiscal 2025 Second Quarter, ended December 31, 2024.
“Our Second Quarter was characterized by the closing of the majority of our $4 million financing with Coenda Investment Holdings Corp. and putting together the relationship with Sensormatic Solutions which subsequently resulted in INEO signing a strategic technology agreement with Sensormatic,” said Greg Watkin, Chairman and Founder of INEO. “As a result of these two initiatives we expect to return to growth in the coming quarters.”
Notable Events of the Second Quarter:
On December 18, 2024, the Company issued 46 million shares in capital, with total proceeds of $2.3 million, to Coenda Investment Holdings Corp. under the second tranche of the Company’s private placement.
Events subsequent to December 31, 2024
On January 13, 2025, the Company revealed a strategic technology partnership with Sensormatic Solutions, a global leader in retail solutions and part of Johnson Controls. This collaboration will integrate INEO’s patented Welcoming System technology with Sensormatic Solutions’ industry-leading loss prevention tools.
On January 14, 2025, the Company issued an additional 20 million shares with total proceeds of $1,000,000 to Coenda Investment Holdings Corp., resulting in Coenda holding an aggregate of 80,000,000 Shares, representing approximately 50.33% of the outstanding shares of the Company.
On January 31, 2025 the Company announced it signed a reseller agreement with Bon Intelligence Inc., a leading 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.
On February 11, 2025 the Company announced that its reseller partner in Turkey, Bon Intelligence Inc., reached an agreement with Bambi, a leading high fashion shoe retailer with 61 stores based in Turkey, to deploy INEO’s in-store retail media technology across Bambi’s stores.
On February 26, 2025, the Company announced that one insider and five arm’s length parties have acquired an aggregate of 6,201,975 Common shares in the capital of the Company pursuant to the conversion of the principal and accrued interest of convertible debentures issued in January and February 2024 (see press releases dated January 31, 2024 and February 16, 2024).
Kyle Hall, CEO of INEO commented, “The INEO team has done a great job of getting the Company positioned to unlock the value of our patented technology. We are looking forward to the rest of 2025 as we deploy INEO Welcoming Systems directly to our contracted customers and via our new partnerships.”
On behalf of the Board of Directors
Kyle Hall, CEO,
INEO Tech Corp.
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“.
For more information please visit:
Websites: www.ineosolutionsinc.com
LinkedIn: www.linkedin.com/company/ineosolutions
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.
For further information:
Kyle Hall
CEO, INEO Tech Corp.
(604) 244-1895
