Surrey, British Columbia--(Newsfile Corp. - May 8, 2025) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the "Company" or "INEO"), acknowledges issue of the Coenda Holdings Investments ("Coenda") press release of May 6, 2025. The press release contains a number of misleading statements regarding the Company's business direction, governance, and Coenda's plans for the Company. The Company will address these statements in due course. The Company is aware that Mr. Akbas is contacting shareholders directly. Shareholders are reminded that they do not need to take any action. Management will provide shareholders with an Information Circular for the Special Meeting of Shareholders scheduled for August 8, 2025 (the "Meeting"). The Information Circular will include relevant information regarding management's plans for INEO, as well as a fulsome account of INEO's relationship with Coenda, including previously undisclosed emails and other electronic communications received by INEO, Directors, officers and other stakeholders, from Mr. Kerem Akbas. Shareholders are encouraged to wait for the Information Circular before making any determinations with respect to voting at the Meeting.
In addition, INEO advises that INEO has received two anonymous emails with purported news releases from "concerned investors" who claimed to be long term investors in INEO. The communications have been delivered from anonymous email addresses and without attribution, and demand that management "make a deal", or the press releases will be released to the general media. There is no indication of what the content of that deal would be. Separately, the press releases were forwarded to members of management by Mr. Kerem Akbas. Mr. Akbas did not advise how he obtained the press releases. The press releases contain misleading and defamatory information and innuendo regarding INEO, members of management and the Board, and certain of INEO's significant customers and their management. The information is false, and potentially fraudulent, and certain of the information could only have been obtained from confidential sources. Management anticipates that the press releases, if distributed, would cause significant harm to INEO's business relationships. The Company is monitoring media for the potential distribution of these false press releases, and will address misleading statements where necessary. Shareholders and investors are cautioned not to accept the information set out in such press releases, if issued.
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 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:
| Websites: | www.ineosolutionsinc.com |
| www.ineoretailmedia.com | |
| LinkedIn: | www.linkedin.com/company/ineosolutions |
Forward-Looking Statements
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 and interim financial statements and MD&A. Readers are cautioned not to place undue reliance on 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.
For further information:
Kyle Hall
CEO, INEO Tech Corp.
investor@ineosolutionsinc.com
(604) 244-1895
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251274
SOURCE: INEO Tech Corp.
