TORONTO, ONTARIO -- (Marketwired) -- 09/09/13 -- Security Devices International Inc. ("SDI" or "The Company") (TSX VENTURE: SDZ) is a defense technology company specializing in the development, manufacturing and sale of innovative, next generation non-lethal ammunition.
Capital Markets Progress:
After undertaking the company's initial public offering, which saw an over-subscription event in the primary tranche, SDI began trading on the TSX Venture Exchange on September 4, 2013. Through this public offering the company is now well funded after raising $3,993,980. The primary use of the IPO proceeds will go towards the Company's growth of its sales team and specifically targeted marketing initiatives. With the additional proceeds, SDI intends to incur nominal R&D expenses solely consisting of additional "Human Effects Testing", "Certification Protocols" & "Government Acceptance Testing", as well as advancing current technology to new levels. These supplementary tests go over-and-above what the Company already has completed, and will allow SDI to be among the most tested and widely accepted less-lethal ammunition round in the industry.
Security Devices International Inc. is proud to announce that all of the patents, which have previously been applied for in the United States, have been granted and issued. These patents include strict legal protection of the blunt impact technology, as well as for the electrical elements of the Company's wireless electrical projectile.
Comprehensive Product Line:
SDI's Blunt Impact Projectile (BIP) is in full production, and the Company is entering the market with their derivative BIP rounds, which are capable of carrying various payloads. SDI has strategically begun an accumulation of BIP inventory, as per the additional IPO proceeds. Using the Corporation's patented technologies, the BIP was designed for the highest operational effectiveness at distances of up to 260 feet (80m), while still enhancing target safety if engaged from a close range of 3m. The various ammunition rounds derived from the original BIP include:
BIP MP (Temporary Powder Based Marking Agent)
BIP ML (Semi-Permanent Liquid Marking Agent)
BIP OC (Oleoresin Capicum - Pepper Spray Liquid)
BIP MO (Malodorant Liquid)
BIP PR (Practice Round)
Lektrox: (Wireless Electric Projectile)
Pursuant to the Company's January 10, 2012 press release indicating the signing of a five-year teaming agreement with a large defense technology company who can provide global sales reach; SDI is proud to announce the tendering into multiple foreign military requests for product (RFP) bids. As the agreement is non-exclusive, SDI has been able to engage numerous product distributors, both in North America and abroad. Furthermore, SDI is exploring synergies, sales potential and future product development with several other Defense Technology Companies in the Unites States and globally.
Tradeshows & Live-Fire Demonstrations:
As a result of SDI's participation at specifically targeted conferences and tradeshows, multiple live-fire demonstrations have taken place for various military, law enforcement and correctional services agencies, both in North America and overseas. As a byproduct of these successes, additional demonstrations have been scheduled for key procurement decision-makers, taking place this quarter.
Due to the Company's recent attendance at the 7th European Symposium on Non-Lethal Weapons in Germany this summer, there are now requests for our rounds (non-lethal bullets) from multiple members of the NATO Less-Lethal Working Group in order to help establish a global safety standard.
This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of SDI in any jurisdiction.
Forward Looking Statement
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements including information with respect to the offering. These statements are based upon assumptions that are subject to significant risks and uncertainties including those risks identified in the Prospectus. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although SDI believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, SDI disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
NEITHER THE 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.
Security Devices International Inc.
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