INEO Tech closes $1.5M private placement and settles $457K in debt

INEO Tech Corp. (TSXV: INEO)(OTCQB: INEOF) has closed a non-brokered private placement, issuing 15,000,000 shares at $0.10 per share for gross proceeds of $1,500,000, according to a press release dated June 16, 2026.

The company said proceeds will be used for working capital, inventory purchases, production requirements, customer deployment costs, and general corporate purposes. All issued shares are subject to a four-month-and-one-day statutory hold period under applicable securities laws.

Alongside the offering, INEO Tech issued 4,578,880 shares at a deemed price of $0.10 per share to settle $457,888 in debt owed to certain creditors.

An insider of the company purchased 3,894,430 shares in the offering, maintaining an ownership interest of approximately 19.9%. An additional 1,116,000 shares were issued to the same insider as part of the debt settlement. Both transactions are classified as related-party transactions under Multilateral Instrument 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval requirements.

In connection with the offering, the company paid finder's fees consisting of 120,000 common share purchase warrants and $12,000 in cash. Each warrant allows the holder to acquire one share at $0.10 for a period of 24 months from the closing date.

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