INEO Tech Corp. Closes $2.345 Million Non-Brokered Private Placement

Core Viewpoint - INEO Tech Corp. has successfully closed a non-brokered private placement, raising gross proceeds of C$2,345,335 to support its growth initiatives in retail media and loss prevention [1][2]. Financing Details - The company issued a total of 156,355,684 common shares at a price of C$0.015 per share, with insiders subscribing to 12,689,020 shares [2]. - A finder's fee of C$8,750 will be paid to CIBC for facilitating certain investors, pending TSXV approval [3]. Use of Proceeds - The net proceeds will be allocated as follows: C$1,600,000 for inventory purchases and customer deployments, and C$745,000 for general and administrative expenses, including paying down current liabilities [3]. - The actual allocation may vary based on operational needs and available working capital [3]. Regulatory Matters - All securities issued are subject to a statutory hold period of four months and one day, in accordance with applicable securities laws and TSXV policies [4]. - Final acceptance of the financing by TSXV is contingent upon customary post-closing filings [4]. Related Party Transactions - The participation of insiders in the financing is classified as a "related party transaction" under Multilateral Instrument 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval requirements [5]. Company Overview - INEO Tech Corp. specializes in technology that integrates in-store retail media with loss prevention, operating through its subsidiary INEO Solutions Inc. [8]. - The company manages the INEO Media Network and INEO Retail Media, focusing on digital signage and retail analytics to enhance revenue and reduce theft [8].