• INEO's direct sales efforts have resulted in expanding its footprint with large US retailers and leading Canadian retailers, which combined represent over 1,500 store locations.
  • INEO's sales efforts with distribution partner Prosegur has resulted in commitments for pilot store installations with several large retailers representing over 8,000 store locations across the United States.

SURREY, BC, Sept. 15, 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 provide the following update on its recent progress with retailers across the globe.

INEO Making Significant Progress with Pilot System Installations at Major Retailers. INEO’s direct sales efforts have resulted in expanding its footprint with large US retailers and leading Canadian retailers, which combined represent over 1,500 store locations. INEO’s sales efforts with distribution partner Prosegur has resulted in commitments for pilot store installations with several large retailers representing over 8,000 store locations across the United States. (CNW Group/INEO Tech Corp.)

INEO continues to make significant progress by executing on its direct sales pipeline. The Company has expanded its footprint with a major retail client and is starting the next phase of its roll-out by deploying the INEO Welcoming System into large groups of stores in concentrated geographic regions. Combined with another retailer, which is just starting to deploy, INEO Welcoming Systems will be installed in over 30 locations within the next few weeks. The Company is well positioned to deploy more than 1,000 retail locations in the United States under the terms of its signed agreements.

Further to the Company's announcement on May 30, 2022, INEO's agreement with a Canadian retailer consisting of approximately 500 locations has resulted in the successful pilot installation at one store in the greater Vancouver area and the Company has commitments to install systems in additional stores in the coming weeks. INEO remains on track to roll-out all of the committed locations with INEO Welcoming Systems this year.

Kyle Hall, CEO of INEO, commented, "We are very excited with the significant progress and momentum INEO is building with large retail chains. Retailers are quickly becoming aware of INEO and are captivated by our ability to provide digital display screens inside of a loss prevention system. More importantly, our patented product generates revenue for the retailer with our integrations to the retailer's Retail Media Network. Having display screens at the front entrance of retail stores is proving to be an in-demand location for advertisers. Furthermore, we are very pleased with our partner Prosegur's success in achieving pilot installations with several large retailers across the globe. We are witnessing increasing numbers of pilot systems and strong levels of interest to convert pilot system installations into full scale deployments and roll outs."

The Company's sales pipeline has increased to over $40 million in annual recurring revenue with increasing traction through the global distribution partnership with Prosegur, a multi-national security solutions company based in Spain. Through this partnership with Prosegur, INEO has installed or secured commitments for pilots with several retail chains in the United States across various industries including pharmacy, agriculture supplies, department store, clothing retailer, global sports franchise, supermarket and luxury department store chain. Combined, these retail chains represent over 8,000 potential store location installation sites for INEO in the United States alone. In addition, Prosegur has been instrumental in landing a South American supermarket chain which is now completing its pilot stage and is committing to roll-out many more locations in early 2023.    

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 

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 statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. This news release uses words such as "may", "would", "could", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", and other similar expressions to identify forward-looking information. Forward-looking information involves significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements and accordingly, should not be read as guarantees of future performance or results. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information.  Other factors 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 most recent annual and interim Management Discussion and Analysis and Financial Statements. 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 to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except to the extent required by law.

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.

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