A2Z Smart Technologies Announces Closing of Previously Announced Private Placements for Aggregate Gross Proceeds of CAD$10.65 million
A2Z Smart Technologies Corp (OTCQX:AAZZF) announced the final approval from the TSX Venture Exchange for its recent private placements, raising CAD$10.65 million through the issuance of 3,916,986 units. Each unit includes one common share and one warrant, with warrants expiring between April 2023 and May 2023. CEO Bentsur Joseph highlighted the financing's role in executing their business plan and expanding their Cust2Mate smart shopping cart solution, which enhances the retail shopping experience by minimizing checkout inefficiencies.
- Successful capital raise of CAD$10.65 million through private placements.
- Approval from TSX Venture Exchange supports future business plans and growth.
- Growing demand for Cust2Mate smart shopping cart solution indicates strong market interest.
- Some shares are restricted until September 2021, potentially limiting liquidity.
- Warrants set to expire in less than two years may affect future capital raising efforts.
TEL AVIV, ISRAEL / ACCESSWIRE / June 4, 2021 / A2Z Smart Technologies Corp. ("A2Z" or the "Company") (TSXV:AZ) (OTCQX:AAZZF), an innovative technology company specializing in state-of-the-art automation and electronics technology, today announced (further to its press releases of April 9, 2021, May 11, 2021 and May 14, 2021) that it has received final TSX Venture Exchange ("TSXV") approval to its two previously announced private placements (collectively, the "Offering"). The Offering resulted in the issuance of an aggregate of 3,916,986 units (the "Units") at a price of CAD
"The closing of this financing provides us with the financial strength to execute our business plan and pursue the significant market opportunity in front of us," commented Bentsur Joseph, CEO of A2Z Smart Technologies, and continued, "A key part of our strategy is to fulfill the growing demand for our smart shopping cart solution, Cust2Mate, which is revolutionizing the traditional retail shopping experience by leveraging AI to provide shoppers with a more customized shopping experience without the inefficiency of check-out lines. We are seeing considerable interest from retailers and look forward to continuing to roll it out worldwide."
About A2Z Smart Technologies Corp
A2Z Smart Technologies Corp. creates innovative solutions for complex challenges. A2Z's flagship product is the world's first proven-in-use mobile self-checkout shopping chart. With its user-friendly smart algorithm, touch screen, and computer-vision system, Cust2Mate streamlines the retail shopping experience by automatically scanning purchased products and enabling in-cart payment so that customers can simply "pick & go", and bypass long cashier checkout lines. This results in a more efficient shopping experience for customers, less unused shelf-space and manpower requirements, and advanced command and control capabilities for store managers. Cust2Mate's SAAS-based software solution also provides shelf heatmaps for targeted advertising, direct marketing and special promotions that generate increased revenues and profits for retailers.
Additional A2Z products include advanced automotive fire prevention systems, bomb-defusing robots, and portable energy systems. The goal of all A2Z's products is to save time, save money and save lives.
For additional information, please visit: https://a2zas.com
Twitter: @a2z_advanced
Instagram: a2z_smart_tech
On Behalf of the Company,
Bentsur Joseph, CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer: The TSX Venture Exchange Inc. has in no way passed upon the merits of the Company has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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 expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). 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. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States or elsewhere. These securities have not been, and will not be, registered in the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.
Contact Information:
A2Z Smart Technologies Corp.
Gadi Levin, Chief Financial Officer
Telephone: +972-8-932-4333
Email: gadi@a2zas.com
SOURCE: A2Z Smart Technologies Corp.
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