SDI Announces Closing of Non-Brokered Private Placement
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES
TAMPA, Fla.--(BUSINESS WIRE)-- (TSX-V:SDZ) (OTCQB:SDEV)
Security Devices International Inc. (“SDI” or “The Company”) is a defense technology company specializing in the development, manufacturing and sale of innovative, next generation less-lethal ammunition.
The Company has today completed the issuance of 7,575,757 common shares for proceeds of USD$2,500,000 previously announced on May 29, 2015. This was a non-brokered private placement and there were no broker commissions or fees associated with this private placement. The shares are subject to a hold period expiring on October 20, 2015 under stock exchange rules and Canadian securities legislation, and a hold period expiring on June 20, 2016 under SEC rules.
Security Devices International President, Gregory Sullivan states, “the significance of this financing, being to a sole investment entity, demonstrates their belief in SDI’s products and validates our business model as we move forward with continued market penetration. This financing will assist SDI in moving into the next stage of our growth and expansion phase. We look to increase our global customer base, giving Military, Law Enforcement and Correctional Service Agencies worldwide, the ability to seek alternatives to violent encounters”.
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.
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.
Dean Thrasher, 905-582-6402 x104
Source: Security Devices International Inc.
Released June 22, 2015