SDI Appoints Bryan Ganz to the Board of Directors and Provides Corporate Update
July 21 2016 - 10:09AM
Business Wire
(TSX-V: SDZ) (OTCBB: SDEV)
Security Devices International Inc. (“SDI” or “The Company”) is
pleased to announce the appointment of Bryan Ganz to the board of
directors, and provides a corporate update.
Mr. Ganz brings more than 30 years of global business experience
in sales management, manufacturing, new product design and
development, as well as mergers & acquisitions. Mr. Ganz will
assist SDI with sales & marketing, expansion of the Company’s
product range, review of operations, implementation of cost control
measures, development of strategic alliances and financial
oversight. During his career Mr. Ganz has bought, built and sold
more than half a dozen global businesses with combined sales in
excess of $1.0 billion. Most recently, Mr. Ganz sold Maine
Industrial Tire LLC to Trelleborg (based out of Sweden) for $67
million generating a 7.0x return to investors over a three-year
period.
Mr. Ganz is a graduate of Columbia Law School in New York City
and completed his accounting designation at Georgetown University
in Washington DC.
With the appointment of Mr. Ganz to the board of directors, the
previously announced resignation of Greg Sullivan as a director
becomes effective.
Sales Focus
SDI continues to garner new law enforcement and correctional
services customer agencies throughout North America. Agencies that
purchase from the Company now total 57 in these two sectors.
On July 5th, the Company began a sales blitz of its top selling
products to gain additional market-share in its targeted sectors.
Reduced manufacturing costs have permitted SDI to offer its
customers and targeted agencies very attractive pricing of its
rounds.
Distribution Partner
SDI has signed a distribution agreement with Mission Less-Lethal
for international sales of its BIP line of products. Mission has
extensive relationships throughout South America and the Caribbean
region, as well as associations in the Far East. As a world leader
in their style of launcher and ammunition, Mission has been selling
into thousands of agencies (Federal, State, Local, and
International Police, Military, and Private Security agencies) for
over 15 years.
Operations
The Company has substantially reduced its production costs of
its most popular products during the last quarter. These cost
reductions will support SDI’s sales blitz effort to continue to
gain market penetration in the law enforcement, correctional
services, and private sector segments.
Website Update
SDI has updated its website to continue to manage its digital
presence, as well as maintain its top positioning in search engines
for the less-lethal industry. The Company has also revised it
messaging to respond to recent global law enforcement
confrontations, such as incidents in the US, South America and in
Europe.
Corporate
As press released on June 20, 2016, and effective as of July
18th, 2016, the Company installed new leadership from Dean
Thrasher, the interim Chief Executive Officer. Mr. Thrasher brings
31 years start-up business management skills, mergers &
acquisitions, product launches, product development, and funding
experience in the technology, wholesale, manufacturing,
distribution, retail and franchise sectors, as well as extensive
international business and public market experience. Mr. Thrasher
has run and managed several private companies as well as a
TSX-Venture listed public company, and chaired and sat on numerous
private and public company boards.
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/20160721005808/en/
SDIAllen Ezer, 416-453-7798Exec. VPwww.securitydii.com
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