A2Z Smart Technologies Corp. Announces US$1.5 Million Registered Direct Offering of Common Shares and Common Warrants

TEL AVIV, ISRAEL / ACCESSWIRE / December 13, 2023 / A2Z Smart Technologies Corp. (the "Company" or "A2Z") (NASDAQ:AZ)(TSXV:AZ), a global leader in innovative technology solutions, today announced that it has entered into a definitive securities purchase agreement with certain accredited investors to issue, in a registered direct offering, up to 1,295,783 common shares, at a purchase price of US$1.15 (CAN$1.56) per share, together with warrants to purchase 647,891 common 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 equal to US$1.49 million. Subject to customary closing conditions, including the final approval of the TSX Venture Exchange, the transaction is expected to close on or around Friday, December 15, 2023 (the "Closing"). A2Z anticipates that the net proceeds from this 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 expects to enter into additional securities purchase agreements with identical terms in one or more tranches by the end of 2023.

The common shares and warrants in the offering are being offered pursuant to a "shelf" registration statement on Form F-3 (File No. 333-271226), which was declared effective by the Securities and Exchange Commission (the "SEC") on April 21, 2023. A prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained, when available, at the SEC's website at http://www.sec.gov. These securities are not being offered in Canada and may not be sold in Canada or to residents of Canada.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

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.