A2Z Smart Technologies has successfully graduated from the OTCQB to the OTCQX Best Market, effective September 23, 2020. This transition signifies the company's commitment to providing transparent trading for U.S. investors and meeting high financial standards and best practices. CEO Joseph Bentsur expressed pride in this achievement, highlighting the potential for increased shareholder value. A2Z specializes in military technology and aims to expand into civilian markets, with the military robotics sector projected to reach $53.93 billion by 2027.
A2Z Smart Technologies Corp (TSXV:AZ; OTCQB:AAZZF) announced conditional acceptance from the TSX Venture Exchange for a private placement financing of up to US$9 million and a controlling interest acquisition in Cust2Mate Ltd. This acquisition will enhance A2Z's capabilities in retail automation, focusing on contactless shopping solutions during the Covid-19 pandemic. The company aims to leverage its military technology experience to expand into civilian markets and enhance its operational projects with the new financing.
A2Z Smart Technologies (OTCQB: AAZZF) has secured a new contract with the Israeli Defense Forces (IDF) for service and maintenance of advanced logistical technologies. The contract, valued based on IDF's needs, grants A2Z exclusivity for providing services and hardware, with an estimated profit margin of 30%. This one-year contract may automatically extend. A2Z aims to adapt military technologies for civilian markets, launching innovative products like FTICS, which prevents vehicle fires in collisions. A2Z's military robotics sector is projected to grow significantly, reaching $53.93B by 2027.
A2Z Smart Technologies Corp (TSXV:AZ, OTCQB:AAZZF) announced a private placement to raise up to US$9,000,000 by issuing up to 19,008,000 subscription receipts at CAD$0.625 each. Proceeds will fund the acquisition of a technology company specializing in smart shopping carts, in which A2Z currently owns a 19% option. The CEO, Bentsur Joseph, owns 80% of the target. The acquisition is a related party transaction and is expected to close by September 30, 2020, pending regulatory approvals. If the acquisition doesn't occur by November 28, 2020, proceeds will be returned.
A2Z Smart Technologies Corp. announced plans to introduce its Fuel Tank Inertia Capsule System (FTICS) in Q4 2020, aiming to reduce the risk of fuel tank combustion during collisions. With over 181,500 highway vehicle fires reported annually in the U.S., resulting in $1.1 billion in property loss, FTICS is positioned as a lifesaving technology that solidifies fuel upon impact, preventing fires. A pilot program with the Israeli Military is set to launch soon, with further trials expected with car manufacturers in 2021. The CEO emphasized FTICS's potential to revolutionize automotive safety.
A2Z Smart Technologies (OTCQB: AAZZF) has announced its stock is now DTC eligible, allowing its securities to be deposited through the Depository Trust Company. This enables trading on U.S. online brokers, such as TD Ameritrade and E*Trade. CEO Joseph Bentsur highlighted this move, along with an upgrade to OTCQB, as part of their strategy to attract U.S. investors while focusing on sales growth. A2Z operates in the military technology sector and aims to leverage its cash flow for expansion into civilian markets as the market for military robotics is projected to grow significantly.