INEO Announces Signing of Master Services Agreement with Staples

Rhea-AI Summary

INEO Tech Corp. (TSX-V: INEO, OTCQB: INEOF) has signed a Master Services Agreement with Staples, setting the stage for expansion into over 1,000 Staples retail locations across the United States. Currently, INEO has installed 26 INEO GATE systems in 12 Staples stores across 11 states. This partnership enables Staples to purchase INEO products, including traditional EAS systems and the INEO Welcoming System, enhancing their digital advertising and analytics capabilities.

Positive

• Signing of a Master Services Agreement with Staples for potential expansion to over 1,000 locations.
• Installation of 26 INEO GATE systems in 12 Staples stores enhances product visibility.

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• None.

Master Services Agreement positions INEO for expansion into Staples stores across the United States

SURREY, BC, June 16, 2022 /PRNewswire/ - INEO Tech Corp. (TSX-V: INEO) (OTCQB: INEOF) (the "Company" or "INEO"), the innovative developer and operator of the INEO Media Network, a digital advertising and analytics solution for retailers, is pleased to announce the signing of a Master Services Agreement with Staples the Office Superstore LLC ("Staples").

Under the terms of the Master Services Agreement, both parties have set terms and conditions for Staples to buy certain INEO products and use certain INEO services such as traditional EAS systems and products, as well as the INEO Welcoming System. INEO has currently installed 26 INEO GATE systems in 12 Staples stores in 11 US states. The installed Welcoming GATE systems provide a clear upgrade path to Welcoming Systems in the future. INEO's deployments in the initial stores positions the Company for expansion into over 1,000 Staples retail locations across the United States.

About INEO Tech Corp. (TSXV: INEO; OTCQB: INEOF)

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:

Website:           www.ineosolutionsinc.com
LinkedIn:          www.linkedin.com/company/ineosolutions
Facebook:        www.facebook.com/ineosolutionsinc
Instagram:        www.instagram.com/ineosolutionsinc
Twitter:             www.twitter.com/INEOsolutions 

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 statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. This news release uses words such as "may", "would", "could", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", and other similar expressions to identify forward-looking information. Forward-looking information involves significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements and accordingly, should not be read as guarantees of future performance or results.  There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information.  Other factors 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 most recent annual and interim Management Discussion and Analysis and Financial Statements. 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 to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except to the extent required by law. 

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.

FAQ

What is the significance of INEO's Master Services Agreement with Staples?

The Master Services Agreement positions INEO for expansion into over 1,000 Staples stores across the U.S., allowing Staples to purchase and utilize INEO's products and services.

How many INEO GATE systems are currently installed in Staples stores?

INEO has installed 26 GATE systems in 12 Staples stores across 11 U.S. states.

What products will Staples be purchasing from INEO?

Staples will be buying INEO's traditional EAS systems and the INEO Welcoming System as part of the agreement.

What are the stock symbols for INEO Tech Corp.?

INEO Tech Corp. is publicly traded under TSX-V: INEO and OTCQB: INEOF.