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INEO Announces Collaboration with FIELDS and McFrugal's Retail Stores

·3 min read
  • Initial installation of three pilot systems features integration of the retailer's point-of-sale cash register data with INEO's loss prevention, customer demographic and store traffic data.

SURREY, BC, June 22, 2021 /CNW/ - INEO Tech Corp. (TSXV: INEO) (the "Company" or "INEO"), an innovative provider of location-based digital advertising, analytics and loss prevention solutions for retailers, today announced it has successfully installed three pilot Welcoming Systems at stores operated by FHC Enterprises (or "FHC") in British Columbia. FHC is the owner-operator of both FIELDS and McFrugal's Discount Outlet Stores. FIELDS has over 60 store locations across Western Canada. Meanwhile, McFrugal's Discount Outlet has 3 store locations across Western Canada.

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. (CNW Group/INEO Tech Corp.)
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. (CNW Group/INEO Tech Corp.)

As part of the pilot installations, INEO is also proud to announce the beta launch of its new point-of-sale integration module called INEO Uplink. Currently undergoing extensive acceptance testing, INEO Uplink integrates the retailer's cash register data with INEO's Mission Control analytics dashboard, which houses INEO's unique store traffic data to provide analytics which were previously unattainable.

"We are very excited to begin working with FHC," said Kyle Hall, CEO of INEO. "FHC is a solid operator and respected retailer with a large network of FIELDS and McFrugal's stores in Canada. Thus far, FHC has been the perfect partner to showcase how our INEO Welcoming Systems' artificial intelligence-driven traffic data can enhance the information retailers' have within their point-of-sale systems. From reporting simple conversion metrics to delivering more robust, actionable operational elements, integrating INEO's analytics capabilities with the retailer's POS data generates pivotal insights. This demonstrates how the INEO Welcoming Systems are uniquely multi-dimensional in delivering loss prevention, digital display advertising, customer demographic data and store traffic data all in one system."

Jason McDougall, CEO of FHC commented, "INEO has developed a very interesting solution and we are looking forward to implementing it in our stores. Serving our customers better is always our number one priority and INEO's technology will help us do that. The relationship with INEO is a good fit given we are both Western Canadian companies who are leaders in our respective markets."

Acceptance testing of the initial three INEO Welcoming Systems is expected to be completed by the end of the summer, while INEO Uplink integration testing and acceptance will continue into the fall. INEO and FHC are actively collaborating on a roll-out plan to expand INEO's Welcoming Systems to additional FIELDS and McFrugal's locations.

About INEO Tech Corp.

INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., provides retailers, advertisers and brands 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 publicly traded on the TSX-Venture Exchange under the symbol "INEO". For more information please visit: www.ineosolutionsinc.com.

About FHC Enterprises

FHC Enterprises is the owner-operator of both FIELDS and McFrugal's Discount Outlet Stores. FIELDS stores have been owned and operated by FHC Enterprises Ltd. since May 2012, but have dotted the Canadian landscape for many years. For almost 70 years, FIELDS has been a central part for many rural Canadians communities and we're proud to share in such a long and rich history. From house and home to footwear, basic grocery and fashion, you will find it at FIELDS. FIELDS has over 60 store locations across Western Canada. Meanwhile, McFrugal's Discount Outlet has 3 store locations across Western Canada. For more information, visit: www.Fields.ca

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 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 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.

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