INEO’s current advertising sales strategy is a multi-channel approach. The Company uses direct sales, media agency relationships and programmatic partnerships to fill its advertising inventory on patented INEO Welcoming System digital display screens located at the main entrance of retail stores. In the current quarter, all three channels contributed to INEO’s advertising revenue. The Company also supports its retail partners who place their own advertising on INEO hospitality systems located in their stores and pay INEO a monthly Software as a Service “SaaS” fee.
“Out-of-home (“OOH”) digital advertising is one of the fastest growing areas of advertising and INEO is the leader in bringing digital signage technology to retailers,” said Kyle Hall, CEO of INEO. “Earlier this year, we hired an industry veteran, Frank Halbach, to lead INEO’s media sales team and we are already seeing the results of executing the company’s advertising strategy. Hiring additional media sales representatives will allow us to expand our reach and influence in key media buying communities in Canada and the United States.”
“I have been extremely pleased with the interest advertisers are showing in the INEO Media Network and the expansion of the ad sales team is the next step in turning that interest into revenue,” said Frank Halbach, INEO’s General Manager of Media Sales. “Throughout the advertising industry, more and more companies are shifting a significant portion of their advertising budgets to display and in particular to vendors such as INEO who can provide accurate measurement of display metrics. audience and provide demographic targeting to brands. This along with our other data points gives us confidence to grow our team and be ready for the major retail partnerships the company is working on.”
INEO Tech Corp.
By: “Kyle Hall”
Kyle HallChairman and Chief Executive Officer and Director
About INEO Tech Corp.
INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., operates INEO Media Network, a digital advertising and analytics solution for retailers. INEO’s patented technology integrates and monetizes digital screens with theft-detecting gates at the entrance to retail stores. The Company’s cloud platform uses IoT (Internet of Things) and AI (Artificial Intelligence) technologies to deliver personalized digital advertising to each point of sale based on demographic makeup, such as age and gender, customer traffic at each location. The Company also deploys the INEO Welcoming Network technology through a SaaS solution with major distribution chains. INEO is headquartered in Surrey, Canada and listed on the TSX Venture Exchange under the symbol “INEO” and on the OTCQB-Venture Market under the symbol “INEOF”.
For more information, please visit: www.ineosolutionsinc.com.
Forward-looking statements
Investors are cautioned that, unless otherwise stated in the Information Document, any information published or received regarding the Company may not be accurate or complete and should not be relied upon. Trading in the Company’s securities should be considered highly speculative.
This press 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 documents of the Company filed on SEDAR, including the annual information form for the financial year ended June 30, 2020 filed on SEDAR December 3, 2020. 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 statement, 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 the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release..
SOURCE INEO Tech Corp.
