Business
INEO Completes Public Offering of Units and Private Placement of Units, Notes for Total Proceeds of C$2.74 Million
INEO Completes Public Offering of Units and Private Placement of Units, Notes for Total P...
About this update from Ineo Tech Corp.
[{"type":"text","content":"\n \n \n \n INEO Completes Public Offering of Units and Private Placement of Units, Notes for Total Proceeds of C$2.74 Million\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n \n \n SURREY, BC\n \n \n ,\n \n \n Nov. 17, 2022\n \n \n /CNW/ -\n \n INEO Tech Corp.\n \n (TSXV: INEO) (OTCQB: INEOF) (\"\n \n INEO\n \n \" or the \"\n \n Company\n \n \"), the innovative developer and operator of the INEO Media Network, a digital advertising and analytics solution for retailers, has closed its previously announced best efforts public offering of 12,025,000 units (the \"\n \n Units\n \n \") of the Company at a price of\n \n $0.12\n \n per Unit for aggregate gross proceeds of 1,443,000 (the \"\n \n Offering\n \n \").\n \n \n \n \n \n \n \n \n \n Each Unit consisted of one common share of the Company (a \"\n \n Common\n \n \n Share\n \n \") and one-half of one common share purchase warrant (each whole warrant, a \"\n \n Warrant\n \n \"). Each Warrant is exercisable to acquire one Common Share (a \"\n \n Warrant Share\n \n \") for a period of 36 months following the closing of the Offering (the \"\n \n Closing\n \n \") at an exercise price of\n \n $0.19\n \n per Warrant Share.\n \n \n The Offering was conducted by a syndicate of agents led by Beacon Securities Limited (the \"\n \n Lead Agent\n \n \") and including Echelon Wealth Partners Inc., PI Financial Corp., Haywood Securities Inc., and Paradigm Capital Inc. (collectively with the Lead Agent, the \"\n \n Agents\n \n \"). On Closing the Company issued to the Agents an aggregate of 923,720 compensation warrants, with each compensation warrant entitling the holder to purchase one Common Share at a price of\n \n $0.12\n \n per share for 36 months from the date of issuance.\n \n \n The Company intends to use the net proceeds from the Offering for the manufacturing and deployment of the INEO Welcoming System to existing and future customers, as ...