Business
INEO Announces Filing of a Rights Offering Circular
Surrey, British Columbia--(Newsfile Corp. - November 24, 2025) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the "Company" or "INEO") announces that it has filed a rights offering circular (the "Circular") and a rights offering notice (the "Notice") with respect to INEO's offering of rights (the "Rights Offering") to holders of common shares ("Common Shares") of record as of the close of market on December 2, 2025 (the "Record Date").Pursuant to the Rights Offering, holders of Common Shares...
About this update from Inneova Holdings Limited
[{"type":"text","content":"Surrey, British Columbia--(Newsfile Corp. - November 24, 2025) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the "Company" or "INEO") announces that it has filed a rights offering circular (the "Circular") and a rights offering notice (the "Notice") with respect to INEO's offering of rights (the "Rights Offering") to holders of common shares ("Common Shares") of record as of the close of market on December 2, 2025 (the "Record Date").","length":513,"tagName":"p"},{"type":"text","content":"Pursuant to the Rights Offering, holders of Common Shares ("Shareholders") on the Record Date will receive one (1) right (a "Right") for each one (1) Common Share held. Each one (1) Right will entitle the holder to subscribe for one Common Share of upon payment of a subscription price of $0.01 per Common Share. INEO expects to raise up to $1,683,357 under the Rights Offering.","length":398,"tagName":"p"},{"type":"text","content":"The Company notes that certain change of control payments are contractually owing to Kyle Hall, Chief Executive Officer and director of the Company, and Greg Watkin, Founder, Chairman and President of the Company, in the event any party acquires 50% or more of the issued and outstanding Common Shares. Specifically, each of Mr. Hall and Mr. Watkin would be entitled to receive a payment equal to three years' salary (i.e., $525,000), the full bonus due over that period and benefits continuance, and all of the Company's 15,170,863 outstanding stock options as of the date hereof (of which Mr. Hall and Mr. Watkin each hold 4,325,000 stock options) would immediately vest (collectively, the "Change of Control Rights"). To prevent the Rights Offering from triggering the Change of Control Rights, the Company will reduce the number of Common Shares issuable upon exercise of Rights so that no subscriber, together with any joint actors, acquires 49.99% or more of the issued and outstanding Common Shares upon completion of the Rights Offering. Any such reduction will be made on a pro rata basis among all Rights holders that would otherwise exceed the limit, and all excess subscription funds will be returned to the affected holders. No securities will be issued under the Rights Offering if such issuance would result in a c...