INEO Tech Corp announced non-brokered private placement of unsecured promissory notes to Pathfinder Asset Management Limited for gross proceeds of CAD 1,000,000 on October 27, 2022. The notes will bear interest at 12% per annum payable semi-annually maturing three years after issue and are unsecured in nature. The company will issue purchasers of the notes bonus shares equal to 20% of the principal amount of the notes divided by CAD 0.14.

The transaction is subject to the approval of the TSX venture exchange and is expected to close on November 17, 2022. No finderÆs fee or commission is payable on the transaction.