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INEO Announces Updated Contracts with Key Customers
INEO Announces Updated Contracts with Key Customers Canada NewsWire INEO has ...
About this update from Ineo Tech Corp.
[{"type":"text","content":"\n \n \n \n INEO Announces Updated Contracts with Key Customers\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n INEO has executed updated contracts with its large national retail and regional liquor store network locations.\n \n \n \n \n \n SURREY, BC\n \n \n ,\n \n \n Sept. 19, 2023\n \n \n /CNW/ -\n \n INEO Tech Corp.\n \n (TSXV: INEO) (OTCQB: INEOF) (the \"\n \n Company\n \n \" or \"\n \n INEO\n \n \"), the developer and operator of the INEO Media Network, a digital advertising and analytics solution for retailers, is pleased to announce it has entered into updated commercial agreements with its large national retail and regional liquor-store network locations. The updated contracts feature 5-year and 6-year contract lengths, exclusive in-store advertising rights, deployment of additional in-store media screens, the right to assign the ownership of the INEO Welcoming System hardware deployed in the retail stores and the right to assign ownership of INEO's exclusive advertising contracts to a third-party media partner. The updated agreements are expected to position the Company for rapid growth and improved margins.\n \n \n \n \n \n \n \n \n \n \"We expect these contracts to accelerate our revenue growth on our in-store Retail Media Networks and provide the framework to significantly reduce our cash needs and expenditures,\" said\n \n Kyle Hall\n \n , CEO of INEO. \"INEO's patented Welcoming System technology generates demand from retailers and strategically restructuring our customer agreements provides us with the opportunity to bring in the right media partner to fuel the monetization of our customer contracts. As a result, we expect to be able to expand the business faster while optimizing capital allocation, with the ultimate goal of reaching a cash flow positive position much sooner.\"\n \n \n The key aspects of INEO's restructured retailer agreements are:\n \n \n \n terms of 5 years and 6 years;\n \n \n the right to deploy additional media screens elsewhere in the store;\n \n \n the exclusive right to sell in-store ad...