SURREY, BC, March 2, 2020 /CNW/ - INEO Tech Corp. (TSX-V: INEO) (the "Company" or "INEO"), the developer of The Welcoming System for retailers, is pleased to announce that it has retained Angad Capital Inc. ("Angad"), to provide corporate strategy, capital markets advisory and investor relations services. The agreement with Angad is subject to TSX Venture Exchange approval.
In connection with the engagement, Angad has been awarded a consulting agreement for an initial term of one year commencing March 1, 2020, for a monthly fee of CDN$10,000. INEO has also agreed to grant Angad with options to purchase 500,000 common shares in the capital of the Company (the "Options") at a price of $0.26 per common share. The Options are granted pursuant to the Company's Stock Option Plan and will vest in accordance with the provisions therein and the policies of the TSX Venture Exchange. Angad Capital previously directly owns 1,213,020 shares of the Company.
The Company also announces that the Board of Directors has authorized the grant of incentive stock options to directors, officers and employees of the Company. Options to purchase an aggregate of 1,900,000 common shares of the Company with an exercise price of $0.26 per share have been granted to directors and officers of the Company.
About Angad Capital Inc.
Based in Surrey, BC, Angad Capital was founded by Pardeep Sangha, a former ranked investment equity analyst for Haywood Securities and PI Financial Corp. Angad Capital provides capital markets advisory services to early stage technology companies including business plan formation, corporate strategy, valuation and financial modelling, acquisition advisory, investor relations and public relations. Angad Capital has an extensive network of relationships with investors, analysts, institutional sales, bankers, brokers and institutional fund managers. For further information please visit: www.angadcapital.com
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.
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.
For further information: Kyle Hall, CEO, INEO Tech Corp., [email protected], (650) 270-050