Congratulations to our client for closing A2Z for another financing.
TEL AVIV, ISRAEL. March 21, 2023 - A2Z Smart Technologies Corp. ("A2Z" or the "Company") (TSXV:AZ) (NASDAQ: AZ), today announced that, further to its press release of March 13, 2023, it has closed the issuance of 1,783,561 units (“Units”) at a price per Unit of US$1.46 (CAD$1.95),for gross proceeds of US$2,604,000. Each Unit consists of one common share and one half of one common share purchase warrant (each whole such warrant a “Warrant”). An aggregate of 891,778 Warrants will be issued upon final closing which, when exercised in accordance with the terms of the warrant certificates, and upon payment of an exercise price of CAD$2.35 (US$1.75), will result in the issuance of an additional 891,778 common shares.
In connection with the Offering the Company paid an aggregate finder's fees of USD $208,320 to certain arms-length finders and issued them 142,685 warrants (the "Finder Warrants"). Each Finder Warrant will be exercisable into an additional common share upon payment of CAD$2.35 (US$1.75) per Warrant.
The intended principal uses of proceeds of the Offering are the continued development and expansion of existing business and for working capital purposes.
A2Z Smart Technologies Corp. creates innovative solutions for complex challenges. A2Z's flagship product is an advanced proven-in-use mobile self-checkout shopping chart. With its user-friendly smart algorithm, touch screen, and computer-vision system, Cust2Mate streamlines the retail shopping experience by scanning purchased products and enabling in-cart payment so that customers can simply "pick & go", and bypass long cashier checkout lines. This results in a more efficient shopping experience for customers, less unused shelf-space and manpower requirements, and advanced command and control capabilities for store managers.
Hanover International Inc.
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Cautionary Statement Regarding Forward-Looking Statement