INEO Founder and Chairman Converts Debenture to Equity
INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF) announced that its Founder and Chairman, Greg Watkin, has converted his $106,000 convertible debenture into common shares. The debenture was part of a larger $570,000 convertible debt offering closed in two tranches on January 31 and February 16, 2024.
Additionally, another holder of $100,000 in convertible debt from the first tranche has also exercised their conversion rights. These conversions reduce the company's outstanding convertible debt from this offering to $364,000, strengthening INEO's financial position and providing more flexibility for growth opportunities.
INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF) ha annunciato che il suo Fondatore e Presidente, Greg Watkin, ha convertito il suo prestito obbligazionario convertibile da $106.000 in azioni ordinarie. L'obbligazione faceva parte di un'offerta più ampia di debito convertibile da $570.000 chiusa in due tranche il 31 gennaio e il 16 febbraio 2024.
Inoltre, un altro detentore di $100.000 in debito convertibile della prima tranche ha esercitato anche i propri diritti di conversione. Queste conversioni riducono il debito convertibile ancora in essere dell'azienda a $364.000, rafforzando la posizione finanziaria di INEO e offrendo maggiore flessibilità per opportunità di crescita.
INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF) anunció que su Fundador y Presidente, Greg Watkin, ha convertido su debenture convertible de $106,000 en acciones comunes. La debenture era parte de una oferta de deuda convertible más grande de $570,000 que se cerró en dos tramos el 31 de enero y el 16 de febrero de 2024.
Además, otro tenedor de $100,000 en deuda convertible del primer tramo también ha ejercido sus derechos de conversión. Estas conversiones reducen la deuda convertible pendiente de la empresa de esta oferta a $364,000, fortaleciendo la posición financiera de INEO y proporcionando más flexibilidad para oportunidades de crecimiento.
INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF)는 그 창립자이자 회장인 Greg Watkin이 $106,000의 전환사채를 보통주로 전환했다고 발표했습니다. 이 전환사채는 2024년 1월 31일과 2월 16일에 두 차례에 걸쳐 완료된 $570,000의 더 큰 전환채권 발행의 일환이었습니다.
추가로, 첫 번째 tranche에서 $100,000의 전환채를 보유한 다른 투자자도 전환권을 행사했습니다. 이러한 전환으로 인해 이 발행에서 회사의 미지급 전환채는 $364,000로 감소하며, INEO의 재무 상태를 강화하고 성장 기회에 대한 유연성을 제공합니다.
INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF) a annoncé que son Fondateur et Président, Greg Watkin, a converti sa débenture convertible de 106 000 $ en actions ordinaires. La débenture faisait partie d'une offre de dette convertible plus large de 570 000 $ clôturée en deux tranches le 31 janvier et le 16 février 2024.
De plus, un autre détenteur de 100 000 $ en dette convertible de la première tranche a également exercé ses droits de conversion. Ces conversions réduisent la dette convertible restante de l'entreprise provenant de cette offre à 364 000 $, renforçant la position financière d'INEO et offrant plus de flexibilité pour les opportunités de croissance.
INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF) gab bekannt, dass sein Gründer und Vorsitzender, Greg Watkin, seine wandelbare Schuldverschreibung in Höhe von 106.000 $ in Stammaktien umgewandelt hat. Die Schuldverschreibung war Teil einer größeren Emission von wandelbarem Schulden in Höhe von 570.000 $, die am 31. Januar und 16. Februar 2024 in zwei Tranchen abgeschlossen wurde.
Darüber hinaus hat auch ein weiterer Inhaber von 100.000 $ an wandelbaren Schulden aus der ersten Tranche sein Umwandlungsrecht geltend gemacht. Diese Umwandlungen reduzieren die ausstehende wandelbare Schuld des Unternehmens aus diesem Angebot auf 364.000 $, wodurch die finanzielle Position von INEO gestärkt wird und mehr Flexibilität für Wachstumschancen entsteht.
- Reduction of convertible debt by $206,000, improving company's financial position
- Strong insider confidence demonstrated through Chairman's conversion of debt to equity
- Enhanced financial flexibility for pursuing growth opportunities
- Remaining $364,000 in convertible debt still outstanding
Greg Watkin exercises convertible debenture of
Surrey, British Columbia--(Newsfile Corp. - January 23, 2025) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the "Company" or "INEO"), is pleased to announce that its Founder and Chairman of the Board, Greg Watkin, has exercised his option to convert all his convertible debenture into common shares of the Company.
The convertible debenture of
This strategic decision underscores Watkin's strong confidence in the Company's growth trajectory and long-term potential. By converting the debenture, Watkin not only increases his investment in the Company but also aligns his interests even more closely with those of all shareholders.
"This conversion represents my unwavering belief in the Company's vision and the opportunities we have ahead of us," said Greg Watkin. "As we continue to innovate, execute on our strategic goals and build value for our stakeholders, I'm proud to demonstrate my personal commitment to the Company's future success."
In addition to Watkin's debt conversion, another holder of
"We are thrilled to see this show of confidence from our Chairman," said Kyle Hall, INEO's CEO. "It reflects not only a belief in the Company's strategy but also the strength of our team and the value we are creating for our shareholders. This transaction underscores the commitment of our leadership to the long-term success of the Company."
INEO Tech Corp.
Per: "Kyle Hall"
Kyle Hall, Chief Executive Officer and Director
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, and INEO Retail Media, an advertising sales provider for in-store retail media. INEO is headquartered in Surrey, Canada and publicly traded on the TSX-Venture Exchange under the symbol "INEO" and on the OTCQB under the symbol "INEOF".
For more information please visit:
Websites: www.ineosolutionsinc.com
www.ineoretailmedia.com
LinkedIn: www.linkedin.com/company/ineosolutions
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, 2022 filed on SEDAR on November 4, 2022. 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.
For further information:
Kyle Hall
CEO, INEO Tech Corp.
604-244-1895
investor@ineosolutionsinc.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238179
FAQ
How much convertible debt did INEO Tech Corp (INEOF) reduce through recent conversions?
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When did INEO Tech Corp (INEOF) close its $570,000 convertible debt offering?
What was the size of Greg Watkin's convertible debenture conversion in INEO Tech Corp (INEOF)?
