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A2Z Smart Technologies Corp. (OTCQX: AAZZF) announced the board's approval for a non-binding Letter of Understanding to acquire a 60% equity interest in a prominent Israeli engineering and manufacturing firm, with an acquisition price of US$1.4 million—comprising US$500,000 in cash and US$900,000 in common shares. The Target had revenues of approximately US$25 million in 2019. A2Z will also invest an additional US$3.1 million to boost growth. The definitive agreement is expected to be signed by the end of April 2021.
A2Z Smart Technologies Corp (OTCQX:AAZZF) has announced the global rollout of its Cust2mate Smart Shopping Cart product. This follows their first commercial order from M. Yochananof & Sons, a prominent Israeli supermarket chain. The Company is focusing on North America, Europe, and the Middle East, setting up logistics, manufacturing, and support personnel for a seamless transition to the Smart Cart solution. CEO Rafael Yam emphasized the shift from R&D to a product-focused company, expressing optimism about future growth.
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.
A2Z Smart Technologies Corp (OTCQB:AAZZF) has appointed Yonatan de Jongh to its board of directors to meet NASDAQ listing requirements. His experience includes serving as a senior manager at DraftKings, focusing on revenues and billing, and previous roles at Kenshoo and Ernst & Young. This appointment is effective immediately and reflects the company's commitment to compliance and governance. A2Z aims to strengthen its leadership team amidst ongoing operational developments.
A2Z Smart Technologies Corp (TSXV:AZ) has appointed Rafael Yam as the new Chief Executive Officer of its subsidiary Cust2Mate Ltd. With extensive experience as the head of NCR Israel BU and a background in retail technology, Yam will lead Cust2Mate's transformation into a global solutions provider for the retail grocery sector. His responsibilities include establishing a robust operations team, introducing Cust2Mate products to leading retailers, and developing a mass manufacturing system for smart carts. Yam begins his role on February 21, 2021.
A2Z Smart Technologies Corp (OTCQX:AAZZF) provided a business update indicating its core operations in engineering and automation have faced revenue declines due to pandemic-related project delays and governmental budget issues. The company has acquired 77.5% of Cust2Mate, which is negotiating sales for its smart carts after a pilot with Yochananof. Additionally, A2Z's Fuel Tank Intelligent Containment System is in final testing. Recent private placements raised CAD$10.9 million, and the company is expanding its office space in Tel Aviv from March 1, 2021.
A2Z Smart Technologies Corp. (OTCQX:AAZZF) has announced a private placement financing of CAD$8,344,043 aimed at enhancing its product rollout and corporate advancements. Additionally, the company has acquired 77.51% of Cust2Mate Ltd., which specializes in advanced retail automation solutions, particularly smart shopping carts. The financing involved significant investments from leading Israeli institutions and strategic partner Yochananof, a supermarket chain valued at approximately CAD$780 Million. This acquisition aligns with the growing demand for contactless shopping solutions, heightened by the pandemic.
A2Z Smart Technologies Corp (OTCQX:AAZZF) has completed a private placement, raising CAD$8,344,043 by issuing 13,350,460 subscription receipts. Each receipt converted into units priced at $0.625, consisting of common shares and purchase warrants. The proceeds will fund product marketing and the integration of newly acquired Cust2mate Ltd., specializing in smart shopping cart technology, for which A2Z paid US$1,566,000. The investment aims to enhance A2Z's market presence in retail automation.
A2Z Smart Technologies Corp (OTCQX:AAZZF) announced it received subscription agreements for CAD$8,344,000 from a previous private placement financing. This funding enables the company to fulfill obligations needed for its acquisition of Cust2Mate Ltd, a company offering retail automation solutions. The closing of the financing and acquisition awaits final approval from the Exchange. Cust2Mate specializes in innovative checkout systems for retailers, which could enhance A2Z's market position in the technology sector.
A2Z Smart Technologies Corp has announced the closing of a private placement financing of up to US$ 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.
