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A2Z Cust2Mate Solutions Corp. (NASDAQ:AZ) announced it has sold its wholly owned Israeli subsidiary, A2ZMS Advanced Military Solutions Ltd., for 500,000 Israeli shekels. The transaction became effective June 30 and was disclosed in a press release statement filed with the Securities and Exchange Commission.
The buyer is an individual residing in Israel who is related to a director of A2Z Cust2Mate Solutions. According to the filing, the deal was approved by all non-interested directors of the company. An independent valuation of A2ZMS was obtained in connection with the sale.
A2Z Cust2Mate Solutions is incorporated in British Columbia, Canada. The company noted that the share purchase agreement for the transaction has been filed as an exhibit to the SEC report.
No additional financial or operational details were provided in the filing.
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