A2Z Smart Technologies Announces Closing of an Additional CAD$2,562,434 Non-Brokered Private Placement – Completing a Total Financing of CAD$10.9 million

TEL AVIV, ISRAEL / ACCESSWIRE / December 29, 2020 / A2Z Smart Technologies Corp. (“A2Z” or the “Company”) (TSXV:AZ)(OTCQX:AAZZF), an innovative technology company specializing in state-of-the-art automation and electronics technology, is pleased to announce that it has closed a non-brokered private placement (the “Offering”) of subscription receipts for gross proceeds of

CAD$2,562,434 from Clal Insurance Company Ltd (“Clal”), a leading Israeli insurance company and pension fund with over CAD$74 Billion of assets under management. The Company has issued 4,099,894 subscription receipts units (the “Units”) at a price of $0.625 per Unit. Each Unit is comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional Common Share at an exercise price of $0.90 at any time prior to December 24, 2025.

This private placement, together with A2Z’s previously announce private placement (see press release dated November 16, 2020), completes a total of $10.9 million CAD recently raised by the Company.

In connection with the Offering, the Company paid finders’ fees of $128,122 in cash and issued 300,000 Warrants to Orion Underwriting.

All securities issued in connection with the Offering are subject to a four month and one day hold period expiring on April 25, 2021.

The Company intends to use the proceeds of the Offering for product marketing, manufacturing, further integration of the Cust2mate business and general corporate purposes.

The Company also announces that it has issued 60,483 common shares of the Company to Waterside Capital Advisors Inc. (“Waterside”) as consideration for services rendered by Waterside to the Company pursuant to the terms of previously announced consulting agreements. The securities were issued to Waterside at a deemed price of $0.62 per common share, and are subject to a hold period expiring April 30, 2021. The issuance is subject to final Exchange acceptance of the related filings.

About Clal Insurance Company Ltd – please see https://www.clalbit.co.il/investorsrelations/aboutclalgroup/.

About A2Z Smart Technologies, Inc.

A2Z Smart Technologies, Inc. is an innovative technology company based out of Israel, specializing in military technology and expanding into the civilian markets. A2Z has been operating for over 30 years and has a client base with 75 recurring clients, including the Israel Defense Forces, Security Forces, and Ministry of Defence among others. A2Z plans to leverage their cash flow-generating core-business to expand into the civilian robotics and automobile markets.

For additional information, please visit: https://a2zas.com
Twitter: @a2z_advanced
Instagram: a2z_smart_tech

On Behalf of the Company,
Bentsur Joseph, CEO

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.

Disclaimer: The TSX Venture Exchange Inc. has in no way passed upon the merits of the Company 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, the 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 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 in the United States or elsewhere. These securities have not been, and will not be, registered in the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.

SOURCE: A2Z Smart Technologies Corp.

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