#Security #Stock A2Z Technologies (TSXV: $AZ.V)
Reports Contract with Nasdaq-Listed Israel #Defense #Technology Company; @A2Z_Advanced
VANCOUVER,
BC - February 5, 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").
Read this news
featuring A2Z Tech in full at https://www.investorideas.com/news/2020/defense/02051A2ZTechnologies-Contract-Nasdaq-IsraelDefenseTechnologyCompany.asp
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.
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.
Twitter:
@A2Z_Advanced
On
Behalf of the Board,
Bentsur
Joseph, CEO
Investor Relations Contact
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.
Disclaimer/Disclosure:
Investorideas.com is a digital publisher of third party sourced news, articles
and equity research as well as creates original content, including video,
interviews and articles. Original content created by investorideas is protected
by copyright laws other than syndication rights. Our site does not make
recommendations for purchases or sale of stocks, services or products. Nothing
on our sites should be construed as an offer or solicitation to buy or sell
products or securities. All investing involves risk and possible losses. This
site is currently compensated for news publication and distribution, social
media and marketing, content creation and more. Disclosure is posted for each
compensated news release, content published /created if required but otherwise
the news was not compensated for and was published for the sole interest of our
readers and followers. Contact management and IR of each company directly
regarding specific questions. Disclosure - A2Z Technologies
Canada Corp. is a paid news and social media client on
Investor Ideas starting February 4, 2020 More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more
about publishing your news release and our other news services on the
Investorideas.com newswire https://www.investorideas.com/News-Upload/ and
tickertagstocknews.com Global investors must adhere to regulations of each country.
Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
No comments:
Post a Comment