In This Article:
Surrey, British Columbia--(Newsfile Corp. - May 8, 2025) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the "Company" or "INEO"), acknowledges issue of the Coenda Holdings Investments ("Coenda") press release of May 6, 2025. The press release contains a number of misleading statements regarding the Company's business direction, governance, and Coenda's plans for the Company. The Company will address these statements in due course. The Company is aware that Mr. Akbas is contacting shareholders directly. Shareholders are reminded that they do not need to take any action. Management will provide shareholders with an Information Circular for the Special Meeting of Shareholders scheduled for August 8, 2025 (the "Meeting"). The Information Circular will include relevant information regarding management's plans for INEO, as well as a fulsome account of INEO's relationship with Coenda, including previously undisclosed emails and other electronic communications received by INEO, Directors, officers and other stakeholders, from Mr. Kerem Akbas. Shareholders are encouraged to wait for the Information Circular before making any determinations with respect to voting at the Meeting.
In addition, INEO advises that INEO has received two anonymous emails with purported news releases from "concerned investors" who claimed to be long term investors in INEO. The communications have been delivered from anonymous email addresses and without attribution, and demand that management "make a deal", or the press releases will be released to the general media. There is no indication of what the content of that deal would be. Separately, the press releases were forwarded to members of management by Mr. Kerem Akbas. Mr. Akbas did not advise how he obtained the press releases. The press releases contain misleading and defamatory information and innuendo regarding INEO, members of management and the Board, and certain of INEO's significant customers and their management. The information is false, and potentially fraudulent, and certain of the information could only have been obtained from confidential sources. Management anticipates that the press releases, if distributed, would cause significant harm to INEO's business relationships. The Company is monitoring media for the potential distribution of these false press releases, and will address misleading statements where necessary. Shareholders and investors are cautioned not to accept the information set out in such press releases, if issued.