SDI Provides Corporate Update
TAMPA, Fla.--(BUSINESS WIRE)-- Security Devices International Inc. (TSX-V:SDZ) (OTCBB:SDEV):
Keith Morrison, Chairman of the Board comments: “Security Devices provides global corrections, military and law enforcement markets with advanced less-lethal munitions that combine leading ballistic and safety performance over an increased range of engagement. We believe that when properly deployed our technology provides a significant alternative and benefit compared to the use of lethal force in many stand-off situations. SDI enters 2015 having successfully competed the highest levels of independent performance valuation of our products. This, combined with several strategic opportunities to expand both our distribution channels and our product lines, should make 2015 a significant year for our stakeholders”.
Sales Growth & Product Acceptance:
SDI’s full product line continues to gain acceptance and sales growth both domestically and internationally. The family of 40mm less-lethal ammunition, including BIP payload rounds, is becoming regarded as the “safety standard” within the industry, seeing that these rounds were 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 6.5 feet (2m).
In December 2014, SDI underwent the National Tactical Officers Association (NTOA) stringent “Member Tested & Recommended Program”. This approval process is designed to assist the association’s membership in selecting the best products available to the tactical community. The Company’s submission for testing allowed the BIP to be placed into the field for law enforcement community acceptance and has been added to the recommended product list. There is a direct correlation between SDI’s NTOA approval and increased sales.
SDI is also pleased to announce sales in over a dozen new Federal, State and Provincial agencies over the last several quarters including Sheriff Departments, Correctional Services, and SWAT teams in; Los Angeles, CA, Sacramento, CA, Kings County, CA, Montreal, QC, Ottawa, ON, Orlando, FL, Naples, FL, Rapid City, SD, Saskatoon, SK, Watertown, SD, Abbotsford, BC, Kingston, ON, Rustburg, VA, Perry, FL, Brookings, SD, Bedford, VA along with Edmonton and Calgary, Alberta. These agencies are additions to SDI’s customer base that have adopted its best of breed 40mm less-lethal rounds on the market, today. Several re-orders from previously purchasing agencies have also occurred.
Revenues from the Company’s first fiscal quarter (2015) have exceeded the entire 2014-reported revenue base.
According to several independent safety studies that the company has outsourced, SDI has received industry disruptive competitive analysis, displaying safety testing protocols, which have the Company to be among the safest, most effective and reliable crowd control / SWAT option on the market.
Additionally, in Q3 2014 the Company was granted the opportunity to submit its product to a blunt trauma risk assessment, conducted by L-3 Applied Technologies in association with the Human Effects Center of Excellence (HECOE). The U.S. Department of Defense’s Joint Non-Lethal Weapons Program (JNLWP) established this benchmark in 2001, to coordinate non-lethal weapons requirements of the U.S. Armed Services. Under the oversight and coordination of the HECOE program, non-lethal human effects research is conducted to identify the risk and effectiveness of munitions such as SDI’s. It then shares this information among human effects researchers, and most importantly non-lethal weapons operators for acceptance.
SDI’s 40mm less-lethal rounds are now available for purchase by branches of the United States Department of Defense and Federal Law Enforcement agencies as a result of this testing protocol.
SDI has partnered with US Tactical Supply as their primary “source of supply” vehicle, under GSA Contract “GS-07F-0259N”. The purpose of this strategic partnership is to provide SDI’s products to a broader range of clientele ranging from the U.S. Department of Defense, State Law Enforcement agencies, the Pentagon Force Protection Agency, U.S Dept. of Justice: FBI / Bureau of Alcohol, Tobacco & Firearms and the U.S. Secret Service.
The U.S. General Service Administration (GSA) is an independent branch of the US Federal Government, which helps in managing and supporting the basic functioning of federal agencies. The GSA Schedules program is the premier acquisition vehicle within the government, with approximately $50 billion a year in spending or 10 percent of overall federal procurement budget. In order to get quality products and services at a reasonable rate, commercial vendors approach the federal government to avail their contracts and increase their user base.
As a commitment to building shareholder value, SDI has taken internal measures to reduce expenditures, manufacturing costs, minimized contractual obligations and from a management position has reduced resource costs.
About Security Devices International
Security Devices International Inc. (SDI) is a defense technology company specializing in the sale of innovative, next generation non-lethal ammunition. The Company’s solutions are a safer alternative to conventional crowd control devices currently in the marketplace, such as bean-bags, batons, as well as both plastic and rubber bullets. SDI is currently deploying their family of non-lethal ammunition to foreign militaries, law enforcement, correctional services and homeland security agencies across the globe.
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.
Security Devices International Inc.
Allen EZER, 416-453-7798 (Canada)
Source: Security Devices International Inc.
Released March 24, 2015