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INEO Announces Settlement with COENDA

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INEO Tech Corp (OTCQB: INEOF) has reached a settlement agreement with COENDA Investments Holdings Corp and its controlling shareholder, Kerem Akbas. The agreement resolves a previously requested special shareholders' meeting and includes several key changes: David Eaton will join INEO's board of directors and serve on both the Audit and Governance committees. The company will initiate a search for a new CFO. Additionally, INEO has entered into a license agreement with BON Intelligence (COENDA affiliate) to produce and sell the INEO Welcoming System, which includes initial licensing fees, per-unit royalties, and monthly network connection fees. COENDA has withdrawn its meeting requisition and accepted standstill provisions, while receiving participation rights to maintain its equity interest. The agreement terms will remain effective until either INEO's 2027 Annual Meeting or May 27, 2027.
INEO Tech Corp (OTCQB: INEOF) ha raggiunto un accordo transattivo con COENDA Investments Holdings Corp e il suo azionista di controllo, Kerem Akbas. L'accordo risolve una precedente richiesta di assemblea speciale degli azionisti e include diverse modifiche chiave: David Eaton entrerà a far parte del consiglio di amministrazione di INEO e farà parte dei comitati Audit e Governance. La società avvierà la ricerca di un nuovo CFO. Inoltre, INEO ha stipulato un accordo di licenza con BON Intelligence (affiliata di COENDA) per la produzione e vendita del sistema INEO Welcoming, che prevede commissioni di licenza iniziali, royalties per unità e tariffe mensili per la connessione di rete. COENDA ha ritirato la sua richiesta di assemblea e accettato clausole di standstill, mantenendo però i diritti di partecipazione per conservare la propria quota azionaria. I termini dell'accordo resteranno validi fino all'Assemblea Annuale INEO del 2027 o al 27 maggio 2027.
INEO Tech Corp (OTCQB: INEOF) ha llegado a un acuerdo de conciliación con COENDA Investments Holdings Corp y su accionista controlador, Kerem Akbas. El acuerdo resuelve una reunión especial de accionistas previamente solicitada e incluye varios cambios clave: David Eaton se unirá al consejo de administración de INEO y formará parte de los comités de Auditoría y Gobernanza. La compañía iniciará la búsqueda de un nuevo CFO. Además, INEO ha firmado un acuerdo de licencia con BON Intelligence (afiliada a COENDA) para producir y vender el Sistema INEO Welcoming, que incluye tarifas iniciales de licencia, regalías por unidad y tarifas mensuales por conexión a la red. COENDA ha retirado su solicitud de reunión y aceptado disposiciones de standstill, mientras mantiene derechos de participación para conservar su interés accionario. Los términos del acuerdo permanecerán vigentes hasta la Junta Anual de INEO de 2027 o hasta el 27 de mayo de 2027.
INEO Tech Corp(OTCQB: INEOF)ëŠ� COENDA Investments Holdings Corp ë°� 주요 주주 Kerem Akbas와 í•©ì˜ì—� ë„달했습니다. ì� í•©ì˜ëŠ� ì´ì „ì—� 요청ë� 특별 주주ì´íšŒë¥� 해결하며 다ìŒê³� ê°™ì€ ì£¼ìš” ë³€ê²� 사항ì� í¬í•¨í•©ë‹ˆë‹�: David Eatonì� INEO ì´ì‚¬íšŒì— 합류하여 ê°ì‚¬ ë°� 거버넌스 위ì›íšŒì—ì„� 활ë™í•� 예정입니ë‹�. 회사ëŠ� 새로ìš� CFOë¥� 찾기 위한 절차ë¥� 시작í•� 것입니다. ë˜í•œ INEOëŠ� COENDA ê³„ì—´ì‚¬ì¸ BON Intelligence와 INEO Welcoming Systemì� ìƒì‚° ë°� íŒë§¤ë¥� 위한 ë¼ì´ì„ ìФ 계약ì� 체결했으ë©�, 초기 ë¼ì´ì„ ìФ 비용, 단위ë‹� 로열í‹�, 월간 ë„¤íŠ¸ì›Œí¬ ì—°ê²° 수수료가 í¬í•¨ë©ë‹ˆë‹�. COENDAëŠ� 주주ì´íšŒ 요구ë¥� 철회하고 스탠드스í‹� ì¡°í•­ì� 수ë½í–ˆìœ¼ë©�, ì§€ë¶� 유지ë¥� 위한 참여 권리ë¥� 확보했습니다. ì� í•©ì˜ ì¡°ê±´ì€ INEOì� 2027ë…� ì—°ë¡€ì´íšŒ ë˜ëŠ” 2027ë…� 5ì›� 27ì¼ê¹Œì§€ 유효합니ë‹�.
INEO Tech Corp (OTCQB : INEOF) a conclu un accord de règlement avec COENDA Investments Holdings Corp et son actionnaire principal, Kerem Akbas. Cet accord met fin à une demande antérieure de réunion spéciale des actionnaires et comprend plusieurs changements clés : David Eaton rejoindra le conseil d'administration d'INEO et siégera aux comités d'audit et de gouvernance. La société lancera une recherche pour un nouveau directeur financier (CFO). De plus, INEO a conclu un contrat de licence avec BON Intelligence (filiale de COENDA) pour produire et vendre le système INEO Welcoming, incluant des frais de licence initiaux, des redevances par unité et des frais mensuels de connexion réseau. COENDA a retiré sa demande de réunion et accepté des clauses de standstill, tout en conservant des droits de participation pour maintenir sa part de capital. Les termes de l'accord resteront en vigueur jusqu'à l'assemblée générale annuelle d'INEO en 2027 ou jusqu'au 27 mai 2027.
INEO Tech Corp (OTCQB: INEOF) hat eine Vergleichsvereinbarung mit COENDA Investments Holdings Corp und dessen Mehrheitsaktionär Kerem Akbas erzielt. Die Vereinbarung löst eine zuvor beantragte außerordentliche Hauptversammlung und beinhaltet mehrere wichtige Änderungen: David Eaton wird dem Vorstand von INEO beitreten und in den Ausschüssen für Prüfung und Governance tätig sein. Das Unternehmen wird die Suche nach einem neuen CFO einleiten. Darüber hinaus hat INEO einen Lizenzvertrag mit BON Intelligence (einer COENDA-Tochter) abgeschlossen, um das INEO Welcoming System zu produzieren und zu vertreiben, einschließlich anfänglicher Lizenzgebühren, Stücklohnzahlungen und monatlicher Netzwerkanschlussgebühren. COENDA hat seine Versammlungsanforderung zurückgezogen und Stillhaltevereinbarungen akzeptiert, behält jedoch Teilnahmerechte zur Wahrung seiner Beteiligung. Die Vertragsbedingungen gelten bis zur Hauptversammlung von INEO 2027 oder zum 27. Mai 2027.
Positive
  • New licensing agreement with BON Intelligence creates additional revenue streams through licensing fees, royalties, and monthly fees
  • Resolution of shareholder dispute with COENDA through settlement agreement
  • Board strengthening with addition of new director David Eaton
Negative
  • Forced management changes with required search for new CFO
  • Potential dilution of existing shareholders through COENDA's participation rights in future equity financings

Surrey, British Columbia--(Newsfile Corp. - May 28, 2025) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the "Company" or "INEO") is pleased to announce that the Company has entered into a settlement agreement (the "Agreement") with COENDA Investments Holdings Corp. ("COENDA") and its controlling shareholder, Kerem Akbas ("Akbas"). The Agreement settles the requisition of a special meeting of the shareholders of INEO by COENDA dated April 7, 2025 (the "Requisition") and the issues contemplated in the Requisition, as previously disclosed in the news release dated April 28, 2025.

Under the terms of the Agreement:

  • INEO will appoint David Eaton to its board of directors (the "Board"), the Audit Committee of the Board and Governance and Nominating Committee of the Board, effective immediately.

  • The new Board will initiate a search for a new CFO.

  • INEO has entered into a license agreement with BON Intelligence, a company affiliated with COENDA and Akbas, pursuant to which BON Intelligence will have a license to produce and sell the INEO Welcoming System for an initial licensing fee, a royalty for each unit installed, and monthly fees for each unit that is connected to the INEO network.

  • COENDA and Akbas have withdrawn the Requisition and accepted customary standstill provisions.

  • During the term of the standstill INEO has granted COENDA participation rights to maintain its interest in the event of any equity financing by INEO.

  • The obligations under the Agreement will be in place until the earlier of INEO's 2027 Annual Meeting and May 27, 2027.

With the execution of the Agreement, INEO has cancelled the shareholder meeting scheduled for August 8, 2025.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement, a copy of which will be available under INEO's profile on the SEDAR+ website at .

About David Eaton

Mr. Eaton brings over 25 years of extensive experience in public markets, with deep expertise in corporate finance, corporate governance, and strategic global business development. Throughout his career, he has played a pivotal role in the operations of various public companies across a diverse range of industries, including real estate, mining, tourism, retail, and manufacturing. He currently serves as the Chairman of Baron Global Financial Canada Ltd. and sits on the board of directors of Penbar Capital Ltd.

About COENDA Investments Holding Corp.

COENDA Investments Holding Corp. is a private British Columbia company committed to enhancing shareholder value through strategic investments and by fostering governance transparency and accountability.

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 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:

Websites:

LinkedIn:

For further information, please contact:
Kyle Hall
CEO, INEO Tech Corp.
[email protected]
(604) 244-1895

Forward-Looking Statements

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 and interim financial statements and MD&A. Readers are cautioned not to place undue reliance on 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.

To view the source version of this press release, please visit

FAQ

What are the key terms of INEO's (INEOF) settlement agreement with COENDA?

The key terms include appointing David Eaton to the board, initiating a search for a new CFO, licensing agreement with BON Intelligence, withdrawal of COENDA's meeting requisition, and COENDA receiving participation rights in future equity financings. The agreement is effective until May 27, 2027.

How will the BON Intelligence licensing agreement affect INEO's (INEOF) revenue?

The licensing agreement will generate multiple revenue streams for INEO through initial licensing fees, royalties for each unit installed, and monthly fees for units connected to INEO's network.

What management changes are happening at INEO (INEOF)?

INEO will appoint David Eaton to its board of directors and related committees, and the company will initiate a search for a new CFO.

How long will INEO's (INEOF) settlement agreement with COENDA remain in effect?

The agreement will remain in effect until the earlier of INEO's 2027 Annual Meeting or May 27, 2027.
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