INEO expands its footprint across Western Canada spanning a variety of consumer retail
verticals and announces installation of pilot system in Prosegur's head office in Spain
SURREY, BC , June 15, 2021 /CNW/ - INEO Tech Corp. (TSXV: INEO) (the " Company " or " INEO "), an innovative provider of location-based digital advertising, analytics and loss prevention solutions for retailers, is pleased to announce it has now installed over 100 retail locations. The INEO Welcoming Network is a patented in-store and online location based digital advertising and data analytics system. INEO enables customized advertising to be displayed on digital screens integrated with theft detection sensor gates at the entrance of retail stores.
"Over the past month, the growth of the INEO Welcoming Network has accelerated," said INEO CEO Kyle Hall . "We continue to have a strong pipeline of retail locations wanting to become a part of the INEO Welcoming Network and we are on track to reach 200 stores by the end of 2021. This number will likely be much higher as our placements in large retailers will drastically increase our store count once they start rolling out. Furthermore, the expanded size of the INEO Welcoming Network has led to increased interest from advertisers. We expect to see this increased interest from advertisers translate into higher advertising revenues in the latter half of this year."
INEO also announced today it has successfully installed its first pilot system in Spain at Prosegur's customer experience centre located in its head office in Madrid. This unit will act as a test and demonstration unit for Prosegur to showcase INEO's technology to its European retail chain customers.
The INEO Welcoming Network began with a network of independent liquor stores in Vancouver, BC , but has since expanded to 66 locations across BC and an additional 36 locations in Alberta. The INEO Welcoming Network now also spans across a variety of additional consumer retail verticals including cannabis and soft goods.
For more information, visit ineosolutionsinc.com.
About INEO Tech Corp.
INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., provides retailers, advertisers and brands with The INEO Welcoming Network, a patented in-store and online location-based advertising network that enhances the customer experience, monetizes the entrances of retail stores and protects against retail theft. The INEO Welcoming Network is a revolutionary cloud-based digital advertising and data analytics system, which sends customized advertising to digital screens integrated with theft detection sensor gates at the entrance of retail stores. INEO is headquartered in Surrey, Canada and publicly traded on the TSX-Venture Exchange under the symbol "INEO". For more information please visit:
www.ineosolutionsinc.com .
Forward-Looking Statements
Investors are cautioned that, except as disclosed in the disclosure document, any information released or received with respect to the Company may not be accurate or complete and should not be relied upon. Trading in securities of the Company should be considered highly speculative.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors – including the availability of funds, acceptance of the Company's products, competition, and general market conditions – that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed on SEDAR, including the Annual Information Form for the year ended June 30, 2020 filed on SEDAR December 3, 2020 . Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
SOURCE INEO Tech Corp.
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