INEO Tech Corp. Completes Private Placement and Debt Settlement

INEO Tech Corp., listed on TSXV and OTCQB, has finalized its non-brokered private placement by issuing 15,000,000 shares at $0.10 per share, generating $1.5 million in gross proceeds. The capital raised is earmarked for working capital, inventory, production, customer deployment, and general corporate purposes. These shares are under a statutory hold period of four months and one day, aligning with securities laws.

Additionally, INEO settled $457,888 in debt by issuing 4,578,880 shares at a deemed price of $0.10 per share. An insider acquired 3,894,430 shares in the offering, keeping a 19.9% interest, and received 1,116,000 debt shares. Both transactions qualify as "related party transactions" but are exempt from certain regulatory requirements.

In conjunction with the placement, finder's fees included 120,000 warrants and $12,000 in cash. Each warrant is exercisable at $0.10 per share for 24 months. The securities are not U.S. registered, nor offered stateside under this release.