INEO Announces New Board Member

Retired Former PwC Canada National Managing Partner, Serge Gattesco joins INEO's Board of Directors

SURREY, BC, Aug. 19, 2020 /CNW/ - INEO Tech Corp. (TSXV: INEO) (the "Company" or "INEO"), an innovative provider of digital advertising, loss prevention and data analytics solutions to retailers, is pleased to announce the appointment of Serge Gattesco to the Company's Board of Directors. Gattesco was the National Managing Partner of Strategy and Operations at PwC Canada, prior to his retirement in 2019. Gattesco in his role as Canadian Managing Partner of Strategy and Operations for PwC Canada had oversight for all of the firm's cities, stakeholders, marketing and sales, business transformation and innovation. Gattesco also previously served as the National Managing Partner for PwC Canada's Audit and Assurance Group where he was responsible for the practice's strategy, profitability, people, regulatory and quality of the Assurance Group.

"It's a great honour to welcome Serge to INEO's Board of Directors," said Kyle Hall, Chief Executive Officer of INEO. "Serge's expertise in strategy, operations, audit, accounting, systems and controls, risks and other general business issues will be a great asset to the Company. I'm excited to be working with him going forward. Additionally, in conjunction with adding Serge, we accept the resignation of Jurgen Wolf from the INEO board and wish to thank Jurgen for his dedication and service in helping the Company through the RTO process and navigating the early COVID crisis. We are a stronger company for his involvement."

Prior to his roles as a National Managing Partner, Gattesco led the PwC Audit and Assurance Group's Human Capital and Operations team and was PwC's Greater Toronto Area Assurance Health Care Leader. Gattesco also participated in three secondments during his career, holding several leadership positions, including Chief Financial Officer and Vice President of Operations, for three large health care organizations in Ontario.

Gattesco has a Bachelor of Commerce degree from the University of Toronto and is a Canadian Chartered Professional Accountant. In 2013, he was elected as a Fellow of the Institute of Charted Accountants of Ontario for his dedication to the profession and community. He is a frequent instructor for the Institute of Corporate Directors and was a member of the audit committee for the Ontario Division of the Canadian Cancer Society.  Gattesco also, until June 2019, was a Board member of the Toronto Region Board of Trade (TRBOT), where he was the Chair of the Finance Committee and Treasurer of TRBOT. Gattesco was the founding Chair of the Accounting and Finance Advisory Committee of the Ted Rogers School of Management at Ryerson (TRSM) where he sat in that capacity for 5 years, and is currently on the Deans Council of TRSM .

About INEO Tech Corp.        

INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., provides retailers with The Welcoming System, a patented in-store and online advertising platform that enhances the customer experience, monetizes the entrances of retail stores and protects against retail theft.  The Welcoming System 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 publicly traded on the TSX-Venture Exchange under the symbol "INEO-V".  INEO Solutions Inc. is a registered trademark of INEO Tech Corp.  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 Company's Filing Statement dated January 20, 2020 (see www.sedar.com). 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.

Pardeep S. Sangha, Investor Relations, INEO Tech Corp., [email protected], [phone]