- INEO continues its 2023 Welcoming System deployment plans with over 70 retail store locations installed this year across 18 states for its Major Retail Partners.
- INEO’s current cumulative foot traffic exceeds several million people per month at its installed locations for these Major Retail Partners.
Surrey, BC – April 27, 2023 – INEO Tech Corp. (TSX-V: INEO; OTCQB: INEOF) (the “Company” or “INEO”), the innovative developer and operator of the INEO Media Network, a digital advertising and analytics solution for retailers, is pleased to announce it has successfully completed installations in over 70 retail store locations in 18 states across the United States for its Major Retail Partners. Moreover, the Company is continuing to roll-out additional locations with these partners in the coming weeks and remains on track to roll-out its committed locations for the remainder of 2023. Based on its current installations, INEO estimates current cumulative customer foot traffic to exceed several million shoppers per month in its installed locations with these Major Retail Partners.
The INEO Welcoming System is an integrated digital advertising display and Electronic Article Surveillance (EAS) theft protection pedestal located at the entrance of retail stores. Its patented combination of EAS and Digital Signage gives it the exclusive ability to display advertising at the front entrance where all customer traffic is able to see. In addition to advertising to every person entering the store, the Welcoming System also offers advertisers data analytics for each retail store on the INEO Media Network. Advertisers partnered with INEO will be able to access customer segmentation data from store foot traffic to allow for customized targeted advertising for each unique store.
“We are extremely excited to expand our INEO media network across 18 states for our Major Retail Partners,” said Kyle Hall, CEO of INEO. “We’ve been working extremely hard to complete our roll-out commitments and are proud to say that we are still ahead of schedule in our installations. Our Major Retail Partners have been amazing to work with and we are thrilled to be offering advertisers the ability to display ads on such a significant scale across so many stores. We look forward to onboarding new advertisers onto the Major Retail Partners’ networks.”
To date, INEO has completed installations for its Major Retail Partners in several major metropolitan cities such as New York City, Los Angeles, San Francisco, and Chicago. The 18 states where INEO has deployed its Welcoming Systems for the Major Retail Partners include: Arizona, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Tennessee, Florida, Texas, Virginia and Washington.
INEO Tech Corp.
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, such as age and gender, 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”.
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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.
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