Business
INEO Tech Corp. Closes $2.345 Million Non-Brokered Private Placement
Surrey, British Columbia--(Newsfile Corp. - December 23, 2025) - INEO Tech Corp. (TSXV: INEO) (...
About this update from Ineo Tech Corp.
[{"type":"text","content":"INEO Tech Corp. Closes $2.345 Million Non-Brokered Private PlacementSurrey, British Columbia--(Newsfile Corp. - December 23, 2025) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the \"Company\" or \"INEO\"), a technology leader at the intersection of in-store retail media and loss prevention, is pleased to announce that it has closed its previously announced non-brokered private placement (the \"Financing\") for gross proceeds of C$2,345,335.Under the Financing, the Company issued an aggregate of 156,355,684 common shares (the \"Common Shares\") at a price of C$0.015 per Common Share. Insiders of the Company subscribed for an aggregate of 12,689,020 Common Shares.Use of ProceedsNet proceeds are expected to be used for working capital and general corporate purposes, including inventory & deployments, product/engineering and sales & marketing initiatives supporting the Company's growth plans. The Company has allocated the proceeds for use as follows: Inventory Purchase and Customer Deployments - $1,600,000; and General and Administrative Expenses including paying down current liabilities - $745,000. Actual allocation may vary depending on operational needs and available working capital at the time of deployment. The Company will pay a finder's fee of $8,750 to CIBC in connection with acting as a finder for certain investors. Payment of the finder's fee remains subject to the approval of the TSXV.Regulatory MattersAll securities issued under the Financing are subject to a statutory hold period of four months and one day in accordance with applicable securities laws and TSX Venture Exchange (the \"TSXV\") policies. Final acceptance of the Financing by the TSXV remains subject to the completion of customary post-closing filings.The participation of insiders of the Company in the Financing constitutes a \"related party transaction\" within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the insiders' participation does not exceed 25% of the Company's market capitalization.The securities of the Company referred to in this news release have not be...