A2Z Smart Technologies Provides Update of its Previously Announced Private Placement and Acquisition of Common Shares of Cust2Mate Ltd

Rhea-AI Summary

A2Z Smart Technologies Corp has announced the closing of a private placement financing of up to US$ 9 million and the acquisition of common shares of Cust2Mate Ltd., expected to finalize within 10 days. Both transactions are subject to Exchange approval. Cust2Mate specializes in retail automation, notably its smart cart that enables automatic checkout, enhancing customer experience. A2Z aims to leverage its longstanding military technology background to expand into civilian markets, particularly in robotics and automotive sectors.

Positive

• Private placement financing of up to US$ 9 million could strengthen cash reserves.
• Acquisition of Cust2Mate offers entry into the growing retail automation market.
• Potential synergies between A2Z's military technology expertise and Cust2Mate's innovations.

Negative

• Closing of transactions is subject to final Exchange approval, introducing uncertainty.
• Integration challenges may arise from the acquisition of Cust2Mate.

TEL AVIV, ISRAEL / ACCESSWIRE / October 9, 2020 / A2Z Smart Technologies Corp. ("A2Z" or the "Company") (TSXV:AZ)(OTCQB: AAZZF), an innovative technology company specializing in state-of-the-art automation and electronics technology, the closing of its previously announced private placement financing of up to US$ 9 million (the "Financing") and the previously announced acquisition (the "Acquisition") to acquire common shares of Cust2Mate Ltd. ("Cust2mate") is expected to close in the coming 10 days. (See A2Z News Releases dated August 26, 2020 and September 14, 2020.)

Closing of both the Financing and the Acquisition are subject to the final approval of the Exchange requiring the filing of all documentation required by the Policies of the Exchange.

About Cust2mate Ltd.

Cust2Mate is a technological company focused on providing retail automation solutions, in particular for large grocery stores, supermarkets and retail stores. Cust2Mate's primary product is the Cust2Mate system which incorporates a "smart cart" enabling shoppers to checkout automatically without having to pass through the cashier, unload and reload their purchases by simply allowing the costumer to "pick&go".

About A2Z Smart Technologies, Inc.

A2Z Smart Technologies, Inc. is an innovative technology company based out of Israel, specializing in military technology and expanding into the civilian markets. A2Z has been operating for over 30 years and has a client base with 75 recurring clients, including the Israel Defense Forces, Security Forces, and Ministry of Defence among others. A2Z plans to leverage their cash flow-generating core-business to expand into the civilian robotics and automobile markets.

According to Zion Market Research, the Military Robotics space is expected to reach $53.93B by 2027 for a projected CAGR of 13.5%.(Summary of Report)

For additional information, please visit: https://a2zas.com

Twitter: @a2z_advanced

Instagram: a2z_smart_tech

On Behalf of the Board,

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.

SOURCE: A2Z Smart Technologies Corp.

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https://www.accesswire.com/609831/A2Z-Smart-Technologies-Provides-Update-of-its-Previously-Announced-Private-Placement-and-Acquisition-of-Common-Shares-of-Cust2Mate-Ltd

FAQ

What is the value of the private placement financing announced by A2Z Smart Technologies?

The private placement financing is up to US$ 9 million.

When is A2Z Smart Technologies expected to close the acquisition of Cust2Mate?

The acquisition is expected to close in the coming 10 days.

What is Cust2Mate's main product?

Cust2Mate's primary product is a smart cart system that allows automatic checkout for shoppers.

How does A2Z Smart Technologies plan to benefit from the acquisition of Cust2Mate?

A2Z intends to leverage Cust2Mate's technology to expand into the retail automation market.

What is the significance of the private placement financing for A2Z Smart Technologies?

The financing could enhance A2Z's financial stability and facilitate future growth initiatives.