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A2Z Smart Technologies Corp. (NASDAQ: AZ) is a multifaceted technology company headquartered in Vancouver, Canada, with a strong presence in the fields of advanced engineering and retail automation. The company operates through three primary segments: Advanced Engineering, Smart Carts, and Precision Metal Parts.
Under its Advanced Engineering division, A2Z provides sophisticated engineering solutions and maintenance services to the military and security markets in Israel. The company also develops innovative products for civilian use, such as the Fuel Tank Intelligent Containment System, designed to prevent gas tank explosions.
The star of A2Z’s product lineup is the Cust2Mate Smart Cart, the world’s first proven-in-use mobile self-checkout shopping cart. This smart cart is equipped with advanced technology including a user-friendly smart algorithm, touch screen, and theft mitigation features. The Cust2Mate allows shoppers to scan and pay for items directly within the cart, thus avoiding long checkout lines and simplifying the shopping experience. The latest iteration, Cust2Mate 3.0, includes a detachable control panel, improved software, and enhanced security features, marking a significant milestone in retail automation.
A2Z's Precision Metal Parts segment focuses on the manufacturing and sale of high-precision metal parts, maintaining a reputation for quality and reliability in various industrial applications.
Recently, A2Z has been actively deploying its Cust2Mate 3.0 carts across major retail chains such as Yochananof in Israel, Morton Williams in New York, and Monoprix in France. The company is also in discussions with several leading global chains to integrate its smart cart technology, responding to the growing demand for retail innovation.
Financially, A2Z has seen substantial investment to support its growth. The company raised around $5.7 million through a combination of registered direct offerings and private placements. These funds are being allocated towards ongoing product development, fulfillment of backlog orders, and expanding customer onboarding processes.
On the corporate front, A2Z has streamlined its structure with Gadi Graus taking the helm as Chief Executive Officer. The company also expanded its board to include Reeves Ambrecht, reinforcing its strategic goals and global growth ambitions.
However, A2Z recently received notices from Nasdaq regarding non-compliance with minimum bid price and market value requirements. The company is addressing these issues within the stipulated grace period while continuing its normal business operations.
With continuous innovation and strategic expansions, A2Z Smart Technologies Corp. is well-positioned to lead the transformation of the retail shopping experience, offering significant value to both retailers and consumers alike.
A2Z Smart Technologies Corp (TSXV:AZ)(NASDAQ:AZ) has closed a private placement generating aggregate gross proceeds of US$4 million (CAD$5.5 million) through the issuance of 2,978,337 units priced at CAD$1.86 per unit. Each unit consists of one common share and a half share purchase warrant. The CEO, Bentsur Joseph, participated with US$750,000. The funds will support the development of smart cart technology and general administrative expenses. A finder's fee of CAD$349,320 was also paid.
A2Z Smart Technologies Corp (TSXV:AZ)(NASDAQ:AZ) has successfully closed an offering of 2,978,337 units at US$1.35 per unit, generating gross proceeds of US$4,020,750. Each unit comprises one common share and one-half of a warrant. The company reported insider participation of US$750,000, qualifying as a related party transaction. A finder's fee may reach up to 8% of gross proceeds. The closing is pending approval from the TSX Venture Exchange. A2Z specializes in innovative retail solutions, particularly the Cust2Mate self-checkout system.
A2Z Smart Technologies Corp (TSXV:AZ)(NASDAQ:AZ) announced amendments to the warrant exercise price for its private placement offering of up to US$5 million, consisting of 3,703,704 units priced at US$1.35 each. Each unit includes one common share and half a warrant, with the warrant allowing purchase of one additional share at CAD$2.04 for 24 months. Insider participation amounts to US$750,000. Closing is subject to TSXV approval.
A2Z Smart Technologies Corp (TSXV:AZ)(NASDAQ:AZ) has increased its private placement offering from US$3 million to US$5 million. This adjustment includes the issuance of up to 3,703,704 units at US$1.35 per unit, each comprising one common share and one-half common share purchase warrant. The Insider Participation allows certain directors and officers to invest up to US$750,000. Closing is subject to TSXV approval. A2Z aims to enhance retail efficiency with its flagship product, Cust2Mate, a mobile self-checkout solution.
A2Z Smart Technologies Corp (TSXV:AZ)(NASDAQ:AZ) has announced a private placement of up to 2,222,223 units at a price of US$1.35 (CAD$1.86) per unit, aiming for gross proceeds of CAD$4,133,333. Each unit consists of one common share and a warrant for an additional share at CAD$2.20 for 24 months. Directors and officers may participate for up to US$750,000, categorized as a related party transaction. The offering is pending approval from the TSX Venture Exchange.
A2Z Smart Technologies Corp. (TSXV:AZ, NASDAQ:AZ) has voluntarily withdrawn its amended preliminary short form base shelf prospectus filed on July 26, 2022, citing unfavorable market conditions. The company's innovative solutions, including its flagship Cust2Mate self-checkout system, aim to enhance retail shopping efficiency by streamlining payment processes. This withdrawal indicates a cautious approach to capital raising amid current market challenges.
A2Z Smart Technologies Corp. (NASDAQ:AZ) announced its participation in the Big Data & AI World event in Singapore on October 12-13, 2022. The company will showcase its Cust2Mate Smart Cart Platform alongside Meiro, a prominent data analytics firm in Asia. This partnership aims to increase visibility in the growing Asian market, with an estimated 20,000 attendees from leading retail and tech sectors expected.
A2Z Smart Technologies Corp. (NASDAQ:AZ) has announced the launch of its innovative Cust2Mate Smart Cart solution at Chedraui's flagship store in Mexico City. This follows a successful integration with Toshiba's point-of-sale systems and thorough testing by Chedraui, a leading Mexican retailer with over 250 stores. The smart cart enhances the shopping experience by allowing in-cart payments and directing customers to discounts, aimed at improving inventory management. CEO Rafael Yam expressed excitement about this milestone partnership.
A2Z Smart Technologies Corp. (NASDAQ:AZ) has launched a pilot program for its Cust2Mate Smart Carts in partnership with The Mall Group in Thailand. This initiative, scheduled to run in five stores, marks the first integration with the Fujitsu POS system. The Cust2Mate Smart Cart enhances the shopping experience by recognizing purchased items and allowing for in-cart payments, thus eliminating long checkout lines. CEO Rafael Yam expressed optimism about validating their offering in a new region and expanding integration with leading POS systems worldwide.
A2Z Smart Technologies Corp. (TSXV:AZ, NASDAQ:AZ) announced the appointment of Yaniv Levy as Director of Customer Success. Levy, with over 20 years of logistical experience, previously led International Delivery at NCR. His role will focus on managing the transition from pilot to full implementation of A2Z's Smart Cart Solution, enhancing customer experience. CEO Bentsur Joseph expressed enthusiasm for Levy’s addition, highlighting the increasing interest in A2Z's solutions.
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