(TSX-V:SDZ) (OTCBB:SDEV)
Security Devices International Inc. (“SDI” or “the Company”)
provides a corporate update.
“SDI’s focus on being recognized as the gold standard within the
40MM less-lethal munitions space continues to be priority one. By
providing a safe, reliable and effective product line which ensures
the success of our Law Enforcement partners as well as their
critical mission to provide safer communities, we intend to create
a lasting awareness that there is now a better alternative”. SDI’s
President, Gregory Sullivan.
Sales Growth and Product Acceptance
The on-going adoption of the Company’s technology into various
agencies remains consistent with its targeted sectors.
Recent Correctional Services (penitentiaries) sales encompass
agencies in Regina, Saskatchewan, Grand Cache, Alberta, Saskatoon,
Saskatchewan, Kingston, Ontario, and West Virginia, USA.
Purchasing Police Departments who have also been added to the
fast-growing list of government agencies include; Portland, Oregon,
Lompoc, California, Los Alamos, New Mexico, Toronto, Ontario,
Montreal, Quebec and Hartford, Connecticut. SDI’s rounds were also
purchased by a Federal agency in Alberta, Canada, a State Police
agency in the mid-western United States as well as multiple
Sheriff’s departments in California.
Overall revenue growth continues as SDI’s products gain wider
industry acceptance and an expanded list of customers who have
converted to SDI’s advanced technology in order to achieve greater
safety and operational diversity.
SDI is also very pleased to announce that it has been accepted
into a new sales segment within the less-lethal market sector,
primarily University Public Safety / Police Departments. These key
agencies are responsible for the safety and security of both
students and the public within their jurisdiction. The Company has
sold their munitions to one of the largest University Police
Departments in the United States and sees this trend of increasing
university campus security budgets continued throughout 2016.
Partnerships
SDI’s continued efforts with industry partners have greatly
impacted the increase in sales and “build-out” of distribution
channels globally.
A key licensing agreement with United Tactical System (UTS), as
announced in April, 2015, allows SDI to work with an industry
recognized brand, Pepperball, which is the flagship product of UTS.
SDI and UTS continue to work closely in aligning their sales
strategies to be highly beneficial to both Companies.
Operations
SDI continues to explore avenues of cost reduction in both the
product manufacturing process and G & A costs. As the Company
moves toward a more automated approach to manufacturing, the cost
reductions will increase.
New Technology
To continue the recognition as an innovator within the
less-lethal space, SDI has completed the development of it’s own
“DNA” branded forensic marking liquid, through an industry leading
third party supplier. This form of “DNA” liquid can be utilized in
SDI’s 40MM less-lethal payload rounds and it is the first of its
kind on the market in a 40MM projectile. The use of SDI’s “DNA”
liquid marking round, in conjunction with police reporting
procedures can be used to greatly increase conviction rates for Law
Enforcement agencies in circumstances that warrant the use of such
technology.
Media Relations
Due to the high level of public interest in making
confrontations safer between the police and the public, the Company
along with its innovative product line has recently been featured
in over 800 media outlets worldwide including, Fox news, CNN money,
The Boston Globe, Associated Press and Al Jazeera.
Corporate
The Company also states that an application has been approved by
the Toronto Venture Exchange to extend the term of warrants issued
by the Company on September 30, 2010 (the "Warrants") at a price of
$0.20 and January 4, 2012 at a price of $0.13. The Warrants were
scheduled to expire on October 1, 2015, and January 3, 2016, but
will now expire on September 23, 2019. All other terms of the
Warrant will remain in effect.
The Company furthermore announces the issuance of 1,675,000
options under the SDI option plan to officers, directors, and
consultants. These options have an expiry date of October 20, 2020
with an exercise price of $0.38.
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. Because of certain 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20151028005367/en/
SDI:Allen EZER, 416-453-7798Exec. VPwww.securitydii.com
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