Breaking Defense Stock
News: A2Z Technologies (TSXV: $AZ.V) Enters into Contract with Nasdaq-Listed
Israel Defense Technology Company; @A2Z_Advanced
VANCOUVER,
BC - February 4, 2020 (Investorideas.com Newswire) A2Z Technologies Canada Corp. ("A2Z"
or the "Company") (TSXV: AZ)
announced today that the Company's wholly owned subsidiary, A2Z MS Military
Solutions, Ltd., has been awarded a contract with an Israel-based,
NASDAQ-listed defense technology company (the "Client").
A2Z has
been contracted by the Client to perform electrical safety checks as well as
other service functions across the Client's facilities. The Company will also
approve of the quality and safety of their electrical systems. The ongoing
contract is priced on a variable-basis, with A2Z's revenues being determined by
the degree and frequency of service that the Client requires. The Company
expects to generate meaningful revenues over the life of the contract.
Read this news in
featuring A2Z Tech in full at https://www.investorideas.com/news/2020/defense/02041TSXVAZ-Contract-Nasdaq-IsraelDefenseTechnologyCompany.asp
In
the coming years A2Z anticipates that this contract will provide variable
recurring revenues while further deepening the Company's relationship with one
of their significant peers in the defense-technology space. This new contract
represents further growth in A2Z's service-based military-technology business.
"We
are very pleased to have been given this opportunity," stated Bentsur
Joseph, Founder and CEO of A2Z. "This contract brings more than just
revenue, as it shows the tremendous respect leading defense technology vendors
have for A2Z's knowledge and capabilities while adding to our growing list of
prestigious clients. The safety of employees and sophisticated systems of this
major high technology conglomerate is essentially being entrusted to A2Z's
capable hands and we intend to further capitalize on this contract as our
relationship grows."
About A2Z
A2Z
Technologies Canada Corp. 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 Defense among others. A2Z plans to leverage their cash
flow-generating core-business to expand into the civilian robotics and
automobile markets.
According
to Zion Market Research, the Military Robotics space is expected to reach
$53.93B by 2027 for a projected CAGR of 13.5%. (Summary of Report)
Highlights:
Core Business: A2Z's line of
products include unmanned remote-controlled vehicles of various sizes designed
for intricate bomb disposal, counter terrorism, and firefighting, as well as
energy storage power packs/generators. A2Z also provides maintenance services
to both external and in-house complex electronic systems and products to over
75 clients.
A2Z has
been an Israel Ministry of Defense contractor for over 30 years and a significant
portion of its business is long-term service contracts.
Expansion into Civilian Markets: To drive growth, A2Z plans to adapt
its military technologies for the much larger civilian markets. One
patent-pending product is a capsule (FTICS) that prevents vehicle fires
resulting from collisions. A2Z has also been granted a patent for a smart
vehicle cover device that protects automobiles from natural elements while the
vehicle is parked and is stowed away safely in the vehicle's bumper when not in
use.
Fuel Tank Intelligent Containment
System (FTICS): In
the event of a collision, the FTICS installed into the fuel tank prevents the
ignition of fuel, thereby mitigating the spread of fire and explosion,
minimizing risk to human life and property damage. According to the
NFPA, from 2014 to 2016, an estimated 171,500 highway vehicle fires
occurred in the United States, resulting in an annual average of 345 deaths,
1,300 injuries, and $1.1 billion in property loss annually.
Management: CEO Bentsur
Joseph's previous venture, Comfy Interactive, was acquired by Shamrock
Holdings, the family investment firm founded by Roy Disney. Previously, Bentsur
Joseph was the chairman of Elad Hotels whose holdings include the Plaza Hotel
in New York City.
Bentsur
Joseph has a ~64% ownership stake in the business with 30,000,000 shares
subject to an escrow agreement.
For more
information regarding A2Z, please visit the Company's website at www.a2zas.com.
Twitter:
@A2Z_Advanced
On
Behalf of the Board,
Bentsur
Joseph, CEO
Investor Relations Contact
Trenton
Kwan, KIN Communications
Toll Free: 1-866-684-6730
az@kincommunications.com
Toll Free: 1-866-684-6730
az@kincommunications.com
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 may include forward-looking statements that are subject to
inherent risks and uncertainties. All statements within this news release,
other than statements of historical fact, are to be considered forward looking.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results or developments may
differ materially from those described in forward-looking statements. Factors
that could cause actual results to differ materially from those described in
forward-looking statements include fluctuations in market prices, including
metal prices, continued availability of capital and financing, and general
economic, market or business conditions. There can be no assurances that such
statements will prove accurate and, therefore, readers are advised to rely on
their own evaluation of such uncertainties. We do not assume any obligation to
update any forward-looking statements except as required under applicable laws.
SOURCE:
A2Z Technologies Canada Corp.
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