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A2Z Smart Technologies Closes Previously Announced US$4.7 Million Registered Direct Offerings, inclusive of 1.5 Million Raised in December 2023.

Glad to have assisted our client, A2Z Smart Technologies Corp., on another successful financing.



TEL AVIV, ISRAEL / January [16], 2024 / A2Z Smart Technologies Corp. ("A2Z" or the "Company") (TSXV:AZ)(NASDAQ:AZ), a global leader in innovative technology solutions, today announced that it closed its previously announced (See press release of January 4, 2024) US$4.7 million registered direct offering on January 15, 2024 (the “January Offering”). The Company entered into an agreement on January 3, 2024 relating to the sale of 2,806,302 common shares in the capital of the Company (“Shares”), at a purchase price of US$1.15 (CAN$1.56) per Share, together with warrants to purchase 1,403,151 Shares at an exercise price of US$1.50 (CAN$2.05) per Share for a period of two years from issuance, for aggregate gross proceeds of approximately US$3.23 million (CAN$4.38). Also as previously announced, the Company in December 2023 raised $1.5 million through the registered direct offering of 1,295,783 Shares and 647,891 warrants on identical terms (the “December Offering” and together with the January Offering the “Offering”).


A2Z anticipates that the net proceeds from the Offering, after deducting Offering expenses, will be used for working capital and general corporate purposes. No placement agent was used or participated in the Offering. The Company has in connection with the Offering paid certain non-US residents finders fees in the aggregate amount of US$377,392 (US$258,180 in respect of the January Offering and US$119,212 in respect of the December Offering) and issued them an aggregate of 328,167 warrants (224,504 in connection with the January Offering and 103,663 warrants in connection with the December Offering) (the “Finder Warrants”) to purchase 225,504 Shares. Each Finder Warrant will be exercisable into an additional Share upon payment of US$1.50 (CAD$2.05) per Finder Warrant. The Finder Warrants have been issued pursuant to an exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, for transactions not involving a public offering.


The Company has filed a prospectus with the Securities and Exchange Commission relating to the common shares and warrants issued to the investor, which can be viewed at www.sec.gov and on the Company’s SEDAR profile at www.sedar.com. No Canadians or residents of Canada participated in the Offering.


About A2Z Smart Technologies Corp.


A2Z Smart Technologies Corp. creates innovative solutions for complex challenges. A2Z’s flagship product is the world’s first proven-in-use mobile self-checkout shopping cart. 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.


Forward Looking Statements


Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These statements include, without limitation, statements related to our ability to close the registered direct offering and the use of proceeds. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the market and other conditions, the impact of economic, competitive and other factors affecting the Company and its operations, and other factors detailed in reports filed by the Company with the Securities and Exchange Commission.


The TSX Venture Exchange Inc. has in no way passed upon the merits of the Company and 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 and the risks relating to our business — 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) and with the Securities and Exchange Commission (see www.sec.gov). 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.


Investor Contact John Gildea, SVP of Corporate Communications and Investor Relations john@a2zas.com


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