TEL AVIV, ISRAEL / ACCESWIRE / November 28, 2022 / A2Z Smart Technologies Corp. (“A2Z” or “Company”) (TSXV:AZ, financial) (NASDAQ:AZ)announced today (following its November 2, 2022 press release) that it has closed previously announced private placements (“Offer“). The offer resulted in the issuance of a total of 2,978,337 units (“unity“) at a price of $1.86 per unit, for gross proceeds of $4 million ($5.5 million). Each unit consists of one common share of the Company (each “Unit quota“) and half of an ordinary share purchase warrant (“Mandate“). The stock units are restricted until March 9, 2023. Each Warrant entitles its holder to purchase one additional common share of the Company (each one “Mandate quota“), upon payment to the Company of $2.04 per Warrant Share and will expire on.
In addition, the Company advises that Bentsur Joseph, the CEO of the Company, has participated in the Offer in the amount of $750,000 (“Participation from within“). The insider trading is considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company expects to rely on the exemptions from the formal evaluation and minority approval requirements of sections 5.5(a) and 5.7(1)(a) of MI 61-101 with respect to the Insider Participation.
A finding fee of $349,320 was paid in cash and 237,200 Warrants were issued in connection with the Offering.
The Company will use the proceeds of the Offering to further develop smart cart technology, continued market penetration and ancillary payments and for general administrative and operating expenses.
About A2Z Smart Technologies Corp
A2Z Smart Technologies Corp. creates innovative solutions for complex challenges. A2Z’s flagship product is the first field-proven mobile shopping chart with self-checkout. With its easy-to-use intelligent algorithm, touch screen and computer vision system, Cust2Mate streamlines the retail shopping experience by automatically scanning purchased products and enabling cart checkout so customers can simply ‘pick and go’ and avoid long home payments. lines. This results in a more efficient shopping experience for customers, less wasted 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 revenue and profits for retailers.
Additional A2Z products include advanced automotive fire prevention systems, bomb disposal robots and portable power systems. The purpose of all A2Z products is to save time, save money and save lives.
For additional information, please visit: https://a2zas.com
On behalf of the Company,
Bentsur Joseph, CEO
Neither the TSX Venture Exchange nor the Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) assumes responsibility for the adequacy or accuracy of this release.
Disclaimer: TSX Venture Exchange Inc. has in no way passed on the merits of the Company, nor approved or disapproved of the contents of this press release. Neither the TSX Venture Exchange nor the Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) assumes responsibility for the adequacy or accuracy of this release. This press 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 expectations. Important factors — including availability of funds, results of financing efforts, 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 as 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 under the United States Securities Act of 1933, as amended, or under any state securities law and may not be offered or sold in the United States of America. America or US persons unless registered or exempted thereof. .
IMS Investor Relations
John Nesbett/Jennifer Belodeau
E-mail: [email protected]
A2Z Smart Technologies Corp.
Gadi Levin, financial director
E-mail: [email protected]
SOURCE: A2Z Smart Technologies Corp.
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