A2Z Smart Technologies Announces First Commercial Purchase Order for its Cust2Mate Smart Shopping Cart

Rhea-AI Summary

A2Z Smart Technologies has secured a US$6 million initial purchase order for its Cust2Mate Smart Shopping Cart from Israeli supermarket chain Yochananof. This order marks the start of a potential nationwide rollout in Israel. Further orders are expected as more stores adopt the Smart Cart. CEO Bentsur Joseph highlighted recent executive appointments and the significance of this milestone for the company. Yochananof's CEO noted the Smart Cart's ability to enhance customer experience by saving time and money.

Positive

• Initial purchase order for Cust2Mate Smart Shopping Cart valued at US$6 million.
• Expected nationwide rollout following initial order.
• Recent appointments aimed at NASDAQ compliance indicate growth strategy.

Negative

• None.

TEL AVIV, ISRAEL / ACCESSWIRE / March 1, 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, announces today that it has received an initial purchase order for its Cust2Mate Smart Shopping Cart from M. Yochananof &Sons (1988) Ltd ("Yochananof"), a leading Israeli supermarket chain whose shares trade on the Tel Aviv Stock Exchange (symbol: YHFN). This is the first step in what A2Z hopes will be a full nationwide roll out of the Yochananof branches in Israel.

The current purchase order is for approximately US$6 million. A2Z expects to receive additional purchase orders as each store in the Yochananof group implements the Smart Cart as its primary mode of shopping. The first deliveries are expected to roll out in the Q2 2021.

Mr. Bentsur Joseph, CEO A2Z stated: "This has been an amazing week in the company's life with the recent appointments of Rafael Yam as CEO of our Cust2Mate division, the addition of Yonatan De Jongh to our Board of Directors to comply with NASDAQ listing requirements and now the first of what we believe will be many commercial orders for our Smart Cart. We look forward to the weeks and months ahead as we execute the roll out. We would like to thank Mr. Eitan Yochananof CEO of Yochananof as well as Mr. Mordechai Yochananof, Chairman of the Board, for their support and help in reaching this major milestone.

Comment from Yochananof

Mr. Eitan Yochananof, CEO of Yochananof stated "Yochananof has always put its customer satisfaction as a top priority and as a result our brand is always at the forefront of innovations.

The Smart Cart is set to revolutionize the shopping experience worldwide and we are proud to be the first chain in the world to adopt this on a mass commercial scale. In our pilot program we saw the amazing benefits to our customers, as it has saved them time, money and has made the trip to our supermarkets much more pleasant. We look forward to rolling out this technology into all our branches over the coming months"

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.

Corporate Contact:

Gadi Levin
+972-8-932-4333
gadi@a2zas.com

SOURCE: A2Z Smart Technologies Corp.

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https://www.accesswire.com/632652/A2Z-Smart-Technologies-Announces-First-Commercial-Purchase-Order-for-its-Cust2Mate-Smart-Shopping-Cart

FAQ

What is the latest purchase order amount for A2Z Smart Technologies' Cust2Mate Smart Shopping Cart?

A2Z Smart Technologies received a purchase order amounting to US$6 million for its Cust2Mate Smart Shopping Cart.

Which company placed the purchase order for A2Z's Smart Cart?

The purchase order was placed by Yochananof & Sons (1988) Ltd, a leading Israeli supermarket chain.

What does the purchase order signify for A2Z Smart Technologies?

The purchase order signifies the first step towards a potential nationwide rollout of the Smart Shopping Cart in Yochananof branches in Israel.

When are the first deliveries of the Smart Cart expected?

The first deliveries of the Smart Cart are expected to roll out in Q2 2021.

What is A2Z Smart Technologies' stock symbol?

A2Z Smart Technologies trades under the stock symbol AAZZF on OTCQX.