INEO continues to build demand for advertising on its INEO Media Network
SURREY, BC, Jan. 28, 2022 /PRNewswire/ - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the "Company" or "INEO"), the innovative developer of the INEO Media Network, a digital advertising and analytics solution for retailers, announces it has added multiple new sales representatives to its growing media sales team. The new sales personnel will expand INEO's media sales team's reach to new media markets. These new representatives along with the installation of new locations, which is expected to increase in 2022 as larger retailer partnerships enter maturity, will be a catalyst for increasing advertising revenue growth in the immediate future.
INEO's current strategy for advertising sales is a multichannel approach. The Company utilizes direct sales, media agency relationships and programmatic partnerships to fill its advertising inventory on the patented INEO Welcoming System digital display screens located at the front entrance of retail stores. In the current quarter, all three channels have contributed to INEO's advertising revenue. The Company also supports its large retailer partners who place their own advertising on the INEO Welcoming Systems located in their stores and pay INEO a monthly software-as-a-service "SaaS" fee.
"Digital Out-of-Home ("OOH") advertising is one of the fastest growing areas in advertising and INEO is the leader in placing digital display technology into retailers," stated Kyle Hall, CEO of INEO. "Earlier this year we hired an industry veteran, Frank Halbach, to lead INEO's media sales team and we are already seeing the results of executing on the company's advertising strategy. The hiring of additional media sales reps will allow us to extend our reach and influence into key media buying communities in Canada and the US."
"I have been extremely happy with the interest advertisers have had in the INEO Media Network and expanding the advertising sales team is the next step in turning that interest into revenue," said Frank Halbach, INEO's Managing Director of Media Sales. "Across the advertising industry more companies are moving significant portions of their advertising budgets to Out-of-Home and particularly into providers such as INEO who can give precise measurement of audience metrics and deliver demographic targeting to brands. This along with our other data points gives us confidence to expand our team and be ready for the large retailer partnerships the Company is working on."
INEO Tech Corp.
Per: "Kyle Hall"
Kyle Hall, Chief Executive Officer and Director
About INEO Tech Corp.
INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., operates the INEO Media Network, a digital advertising and analytics solution for retailers. INEO's patented technology integrates and monetizes digital screens with theft detection sensor gates at the entrance of retail stores. The Company's cloud-based platform uses IoT (Internet of Things) and AI (Artificial Intelligence) technology to deliver customized digital advertising to each retail location based on the demographic mix, such as age and gender, of customer traffic at each location. The Company also deploys the INEO Welcoming Network technology through a SaaS-based solution to larger retail chains. INEO is headquartered in Surrey, Canada and publicly traded on the TSX-Venture Exchange under the symbol "INEO" and on the OTCQB-Venture Market under the symbol "INEOF".
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.
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SOURCE INEO Tech Corp.
