A2Z Smart Technologies Announces Closing of Previously Announced Private Placement for Aggregate Gross Proceeds of US$4 million (CAD$5.5 million)

TEL AVIV, ISRAEL / ACCESSWIRE / November 28, 2022 / A2Z Smart Technologies Corp. ("A2Z" or the "Company") (TSXV:AZ)(NASDAQ:AZ), today announced (further to its press release of November 2, 2022) that it has closed the previously announced private placements (the "Offering"). The Offering resulted in the issuance of an aggregate of 2,978,337 units (the "Units") at a price of CAD$1.86 per Unit, for gross proceeds of US$4 million (CAD$5.5 million). Each Unit is comprised of one common share of the Company (each a "Unit Share") and one half of a common share purchase warrant (the "Warrant"). The Unit Shares are restricted until March 9, 2023. Each Warrant entitles the holder thereof to acquire one additional common share of the Company (each a "Warrant Share"), upon payment to the Company of CAD$2.04 per Warrant Share and shall expire on.

Additionally, the Company advises that Bentsur Joseph, the CEO of the Company, participated in the Offering in an amount of US$750,000 (the "Insider Participation"). The Insider Participation transaction 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 exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the Insider Participation.

A finder's fee of CAD$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 world's first 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 automatically 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. Cust2Mate's SAAS-based software solution also provides shelf heatmaps for targeted advertising, direct marketing and special promotions that generate increased revenues and profits for retailers.