SDI Signs Letter of Intent with King Abdullah II Design and Development Bureau
April 23 2018 - 7:00AM
Business Wire
(TSX-V: SDZ) (OTCQB: SDEV) Security Devices International Inc.
(“SDI” or the “Company”) announces the signing of a Letter of
Intent (“LOI”) with the King Abdullah II Design and Development
Bureau (“KADDB”), the Hashemite Kingdom of Jordan.
The LOI was formalized to establish a partnership between SDI
and KADDB to open a production line in Jordan to supply SDI’s less
lethal 40mm munitions in the Middle East and North Africa (“MENA”)
region. The Middle East Non-Lethal Weapons Market is expected to
grow at a CAGR of 6.15% until 2020, according to the firm Research
and Markets.
“We are very excited to develop our partnership with SDI,” said
KADDB CEO Support Brig. Gen. Eng. Mohammad Arajneh, “SDI has proven
themselves to be leaders in innovating new technologies that offer
improved safety, accuracy and effectiveness in the use of less
lethal force.”
Paul Jensen, President of SDI added, “KADDB is an ideal partner
for SDI to introduce our patented collapsible head technology into
one of our targeted areas, the MENA region. Jordan, through the
establishment of KADDB, continues to demonstrate real leadership in
the region by embracing innovative solutions and advanced
technologies to serve National Security. We are honored to assist
them in this worthy effort.”
For more information, visit us at the Special Operations Forces
Exhibition and Conference (SOFEX), May 8-10, Amman Jordan, in the
KADDB exhibit.
About Security Devices
International
SDI is a technology company specializing in the areas of
Military, Law Enforcement, Corrections, and Private Security. The
Company develops and manufactures innovative, less lethal equipment
and munitions.
About KADDB
KADDB is an independent government entity within the Jordan
Armed Forces (“JAF”) aiming at becoming a global defense and
security research and development hub in the region.
The Bureau’s scope of work includes Defense Design and
Development, Test and Evaluation, Technology Incubation in the
Kingdom, and Defense Technology Training.
Forward-Looking Statements
- This press release contains
forward-looking statements about SDI. Forward-looking statements
may be identified by the use of words like “believe,” “expect,”
“anticipate,” “estimate,” “plan,” “consider,” “project,” and
similar references to the future. Forward-looking statements
reflect SDI’s good-faith evaluation of information available at the
time the forward-looking statements were made. These
forward-looking statements are subject to a number of risks and
uncertainties, and our actual results may differ materially from
those projected. Please refer to SDI’s annual and quarterly reports
filed with the SEC for a full discussion of those risks and
uncertainties we view as most important. Forward-looking statements
are not, and should not be relied upon as, a guarantee of future
performance or results, nor will they necessarily prove to be
accurate indications of the times at or by which any such
performance or results will be achieved. As a result, actual
outcomes and results may differ materially from those expressed in
forward-looking statements. We undertake no obligation to update or
revise forward-looking statements.
About Security Devices InternationalSDI is a technology company
specializing in the areas of Military, Law Enforcement,
Corrections, and Private Security. The Company develops and
manufactures innovative, less lethal equipment and munitions.
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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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Security Devices International Inc.Paul JensenPresident &
COOPjensen@securitydii.comwww.securitydii.com
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