- Mr. Syho brings a wealth of finance, technology and public
company experience to the Board of INEO.
SURREY,
BC, Dec. 30, 2022 /CNW/ - INEO Tech
Corp. (TSXV: 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 the appointment of
Eugene Syho to the Company's board
of directors ("Board") as an independent director and member
of the Audit Committee effective December
29, 2022.
Mr. Syho is a seasoned finance executive with over 25 years of
proven financial management experience across many diverse
industries. He was the Chief Financial Officer ("CFO") of
multiple businesses ranging from publicly traded technology
companies listed on the TSX to privately owned industrial
manufacturing companies. Most recently, Mr. Syho was the CFO of
Army and Navy Group, a privately owned retail and real estate
company, Syscon Justice Systems Ltd., a private equity owned
technology company, and Norsat International Inc., a TSX listed
technology company that was sold to private interests in 2017. With
a professional background in finance and accounting, Mr. Syho is a
Chartered Professional Accountant (CPA) and has an Executive
Master's degree in Business Administration from Simon Fraser University.
"We are very excited to welcome Eugene to INEO's Board of
Directors," said Greg Watkin,
Chairman and President of INEO. "Eugene's career as an executive
overseeing Finance, Human Resource, Supply Chain, and IT functions,
gives him a wealth of experience and perspective in multiple
aspects of the business. We are extremely happy to be adding Eugene
to our team as he brings a new set of skills and a wide range of
experience to INEO, which will be a tremendous benefit to the
Company as we continue to grow larger and expand globally."
Mr. Syho commented, "I am pleased to join the INEO Board at such
an exciting time when the Company is entering its next phase of
rapid expansion. INEO represents a unique opportunity being at the
forefront of the retail media space, and I look forward to working
with the INEO team to continue to grow the business."
In conjunction with adding Eugene, the Company has accepted the
resignation of Serge Gattesco from
the INEO Board and wish to thank Serge for his service and
commitment in helping guide the Company since August of 2020.
Additionally, further to its press release dated November 17, 2022, the Company wishes to clarify
that, in connection with its public offering of 12,025,000 units
(the "Units") of the Company at a price of $0.12 per Unit for aggregate gross proceeds of
1,443,000 (the "Offering"), the Company paid the agents under the
Offering, being Beacon Securities Limited, Echelon Wealth Partners
Inc., PI Financial Corp., Haywood Securities Inc., and Paradigm
Capital Inc. (collectively, the "Agents") an aggregate cash
commission of $110,846.4, being 8.0%
of the gross proceeds of the Offering, subject to a reduced cash
commission of 4.0% in the case of certain subscribers identified by
the Company. No finder's fees or commissions were paid on the
concurrent non-brokered private placement of 2,500,000 Units. Each
Unit issued in the non-brokered private placement had the same
terms and conditions as the Units issued in the Offering and
consisted of one common share of the Company (a "Common Share") and
one-half of one common share purchase warrant (each whole warrant,
a "Warrant"), with each Warrant being exercisable to acquire one
Common Share (a "Warrant Share") for a period of 36 months
following the closing of the Offering (the "Closing") at an
exercise price of $0.19 per Warrant
Share.
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".
For more information please visit:
Website: www.ineosolutionsinc.com
LinkedIn:
www.linkedin.com/company/ineosolutions
Facebook: www.facebook.com/ineosolutionsinc
Instagram: www.instagram.com/ineosolutionsinc
Twitter:
www.twitter.com/INEOsolutions
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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SOURCE INEO Tech Corp.