#Defense #Stock News: A2Z
Technologies Canada (TSXV: $AZ.V) (FSE: A23.F) Deemed "Essential
Service" in Israel and Operations Unaffected in Midst of #COVID-19 ( #Coronavirus)
Pandemic; @A2Z_Advanced
Vancouver,
BC - March 26, 2020 (Investorideas.com Newswire,
Homelanddefensestocks.com) A2Z
Technologies Canada Corp. ("A2Z" or the "Company") (TSXV:AZ.V) (FSE:A23.F), a pioneer in
military robotics, services, and innovation in the auto industry, announces
that the Company has been classified as an "essential service"
company in Israel, and its business operations continue and remains strong.
Read this news
featuring A2Z Tech in full at https://www.investorideas.com/CO/AZ/news/2020/03261COVID19-EssentialService.asp
Bentsur
Joseph, President and CEO of A2Z states, "We wish to reiterate that our
core business, working with government agencies, has been classified by the
Israeli government as essential, and thus, we are operating at full capacity.
We are taking every precaution possible to ensure our employees safety while
remaining available to fulfill our various contracts with so many important
divisions of the Israeli government, including the Army, Police, Ministry of
Defense, among others, all of whom are also deemed "essential
services" and remain open, enabling us to fulfill our contracts as per
relevant agreements."
Additionally,
with the recently completed financing and improved payment terms from our
clients, the Company's balance sheet remains strong, enabling it to continue to
grow its business.
Bentsur
continues, "The Company's cash flow remains strong, and our business is
robust, alive, and well. Our Canadian and Frankfurt listings give us the
platform to a whole new level of investor exposure and a nexus from which to
expand our visibility to promising potential clients within North America and
the European Union."
The
Company wishes to thank its employees, shareholders, and clients for their
strong support, and looks forward to providing material updates on its exciting
technologies and business developments in the near future.
BUSINESS OF 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 Defence 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 fire fighting, 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 Inertia 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 atwww.a2zas.com.
Twitter: @A2Z_Advanced
Twitter: @A2Z_Advanced
On Behalf of the Board,
Bentsur Joseph, CEO
Bentsur Joseph, CEO
Investor Relations Contact
Trenton Kwan, KIN Communications
Toll Free: 1-866-684-6730
az@kincommunications.com
Trenton Kwan, KIN Communications
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.
A2Z Technologies Canada Corp (TSXV: AZ) is a featured security
and defense stock on Investorideas.com. Visit the profile page to learn more
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