Surrey, BC – January 29, 2020 – INEO Tech Corp. (TSX-V: INEO) (the “Company” or “INEO”), the developer of The Welcoming System for retailers, is pleased to announce its shares will start trading on the TSX-Venture Exchange as a Tier 2 Technology Issuer under the symbol “INEO” at market opening on Wednesday, January 29, 2020.
“We are very excited to be listing on the TSX Venture Exchange,” said Greg Watkin, Chairman, Founder and President of INEO. “Being publicly listed significantly increases our profile and provides us access to capital to accelerate the growth of our business. Our recently closed financing of over $2.8M provides us with sufficient capital to execute on our current business opportunities. We look forward to providing investors an update on our expansion plans in the coming months.”
INEO was founded in 2016 by Mr. Watkin to provide retailers with a digital display technology at the entrance of retail stores which also integrates with existing loss prevention tags and scanning technologies. In addition, The Welcoming System and INEO’s data aggregation system unobtrusively collects original customer data for retailers, allowing them to fully understand customer behaviour, optimize their retail experience and make the best use of the entrance of the retail store.
INEO has made three meaningful acquisitions since being founded which provided the Company with a retail customer base, the manufacturing expertise and intellectual property to design, manufacture and market The Welcoming System. INEO launched The Welcoming System in the summer of 2019 with successful installations in select retail locations in Vancouver. Since then the Company has expanded into retail locations across Vancouver, Surrey, Coquitlam, New Westminster, Maple Ridge, Port Moody, North Vancouver, White Rock, Victoria, Calgary, Red Deer and Edmonton.
Mr. Watkin was formerly Chief Operating Officer of Epic Data, a Vancouver based technology provider to the aerospace industry, servicing customers such as Lockheed Martin, Boeing and Bombardier. After leaving Epic Data, Mr. Watkin led the registry services division of Resolve Corporation (“Resolve”) providing asset registry services for some of Canada’s largest banks. Mr. Watkin grew the registry service division to over $100 million in annual revenue before facilitating the sale of Resolve to Davis+Henderson.
Mr. Watkin is also pleased to announce that Kyle Hall has assumed overall leadership responsibility of the Company as CEO of INEO, while Mr. Watkin will remain Chairman and President of INEO. Mr. Hall has been with INEO since late 2016 and he brings a wealth of experience in sales, marketing and technology leadership as the former CEO of PNI Digital Media (“PNI”), a Toronto Stock Exchange listed company providing eCommerce and photo kiosk services to some of the largest retailers in the world. Mr. Hall successfully negotiated the sale of PNI to Staples Inc. in 2014 for $75 million and spent two years as an executive at Staples before leaving to join INEO. Prior to PNI, Mr. Hall had a distinguished career in Business Development and Sales & Marketing for international companies including Corel Corporation, MGI Software and Telepix Imaging.
About INEO Tech Corp.
INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., provides retailers with The Welcoming System, a patented in-store and online advertising platform that enhances the customer experience, monetizes the entrances of retail stores and protects against theft. The Welcoming System 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 publicly traded on the TSX-Venture Exchange under the symbol “INEO-V”. INEO Solutions Inc. is a registered trademark of INEO Tech Corp. For more information please visit www.ineosolutionsinc.com.
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 Filing Statement dated January 20, 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.
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INEO Tech Corp.