Ineo Tech closes $2.34-million private placement

Executive Summary

• Ineo Tech Corp. has closed a non-brokered private placement raising gross proceeds of $2,345,335.
• The company issued 156,355,684 common shares at a price of 1.5 cents per share, with insiders subscribing to 12,689,020 of those shares.
• Net proceeds are designated for working capital, specifically targeting inventory/customer deployments ($1.6 million) and general/administrative expenses including liability repayment ($745,000).

Key Details

• Gross Proceeds: $2,345,335
• Share Price: 1.5 cents per common share
• Total Shares Issued: 156,355,684 common shares
• Insider Subscription: 12,689,020 common shares subscribed by company insiders
• Use of Proceeds Allocation:
  • Inventory purchase and customer deployments: $1.6 million
  • General and administrative expenses (including paying down current liabilities): $745,000
• Finder's Fee: $8,750 paid to Canadian Imperial Bank of Commerce (CIBC) for acting as a finder; subject to TSX Venture Exchange approval.
• Regulatory Status: Securities subject to a statutory hold period of four months and one day; final acceptance by TSX Venture Exchange pending customary post-closing filings.
• Related Party Transaction: Insider participation constitutes a related party transaction under Multilateral Instrument 61-101; exemptions from formal valuation and minority shareholder approval were relied upon as insider participation does not exceed 25% of market capitalization.
• Previous Financing Context: The company will not issue further shares under a previously announced private placement from October 2025 (announced Oct 9 and Oct 31, 2025), which resulted in the issuance of 5.99 million shares at 4 cents per share.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.