INEO Completes $7 Million Upsized Public Offering

/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO OR THROUGH UNITED STATES NEWSWIRE SERVICES./

SURREY, BC, March 10, 2021 /CNW/ - INEO Tech Corp. (TSX-V: INEO) ("INEO" or the "Company") has closed its previously announced upsized marketed public offering of 19,454,550 units (the "Units") of the Company at a price of $0.36 per Unit for aggregate gross proceeds of $7,003,638, which included the exercise in full of the agents' over-allotment option (the "Offering"). Each Unit consisted of one common share of the Company and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase, subject to adjustment in certain circumstances, one additional common share at a price of $0.55 per common share until March 10, 2023.

The Offering was led by Beacon Securities Limited on behalf of a syndicate of agents including Haywood Securities Inc. and PI Financial Corp. (collectively the "Agents"). The Company issued to the Agents an aggregate of 1,482,233 compensation warrants, with each compensation warrant entitling the holder to purchase one common share of the Company at a price of $0.36 per share until March 10, 2023.

The Company intends to use the net proceeds of the Offering to advance the development and commercial deployment of the INEO Welcoming System, working capital and general corporate purposes.

The Offering was completed by way of a short form prospectus filed in British Columbia, Alberta, and Ontario. The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

About INEO:

INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., provides retailers with the INEO Welcoming Network, a patented in-store and online location-based advertising network which enhances the customer experience, monetizes the entrances of retail stores and protects against retail theft. The INEO Welcoming Network 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 headquartered in Surrey, Canada and is publicly traded on the TSX-Venture Exchange under the symbol "INEO". 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 Annual Information Form for the year ended June 30, 2020 filed on SEDAR on December 3, 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], CO: INEO Tech Corp.