Coenda Clarifies Inaccuracies in Recent INEO Tech Corp. Disclosure

Surrey, British Columbia--(Newsfile Corp. - May 6, 2025) - Coenda Investments Holding Corp. ("Coenda"), a significant shareholder of INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) ("INEO"), issues this press release to correct several inaccuracies contained in the recent disclosure by INEO dated April 28, 2025.

Coenda firmly believes that rigorous corporate governance and regulatory compliance are foundational to long-term shareholder value creation.

During preliminary discussions about Coenda's strategic investment in INEO, Coenda highlighted concerns to INEO's management about its growth strategy, but after nearly a year of discussions, Coenda was convinced of the merits of INEO's product and service offering. Coenda chose to make a significant investment in INEO based on the strength of INEO's product and service offering, and with the mutual understanding that:

1. There was a need to strengthen INEO's board by bringing on new members who could play a proactive role in INEO's global growth, oversight of management, and adherence to good governance practices;
2. INEO's management team would need to be strengthened by adding additional depth to grow in global markets; and,
3. INEO would be fully transparent in the use of the proceeds of Coenda's investment.

Over the past quarter, in countless meetings, Coenda has worked tirelessly to implement the changes that it identified to INEO's management before Coenda made its investment. Coenda has also sought information from INEO about the use of the proceeds of Coenda's investment. At all times, Coenda's objective in making its strategic investment, and in taking an active role in facilitating the changes identified to INEO's management, was to grow INEO and enhance shareholder value.

Despite Coenda's patient efforts to implement the changes that were contemplated as part of Coenda's strategic investment, Coenda has been met with resistance from INEO's management team.

Following the appointment of Coenda's nominee (Mr. Kerem Akbas) to the board of INEO, it became apparent that important corporate formalities, such as board approval of financial statements and timely filing of continuous disclosure, were not being followed. Consequently, Coenda delivered a requisition for a shareholder meeting, to be held on an urgent basis, to ascertain the root cause for INEO's corporate and regulatory non-compliances. Coenda also gave notice of its desire to change the then-current board members except for Mr. Akbas (i.e. Greg Watkins, Kyle Hall, and Steve Matyas).