Security Devices International Announces Signing of M.O.U.
WASHINGTON, DISTRICT OF COLUMBIA -- (MARKET WIRE) -- 04/12/11 -- Security Devices International Inc. (SDI) (OTCBB: SDEV) is pleased to announce that it has signed a Memorandum of Understanding (MOU) with a large, global defense technology company. The MOU maps out the intentions of both groups to move forward in having SDI's 40mm Blunt Impact ammunition round manufactured at their facility.
A further definitive business agreement will need to be executed further defining the parties' roles. The proposed arrangement will enable SDI to produce and market their next generation less-than-lethal ammunition products through this Company at their production facility in the United States.
The MOU represents SDI's first step in entering the marketplace both internationally, and in North America.
Gregory Sullivan, President and CEO of Security Devices International states, "This is a very important milestone for SDI. It will allow us to have our 40mm rounds manufactured and give us access to a global marketing initiative. SDI has been looking for the right partnership for some time and I believe that we have found it with this Company. They are well ingrained in the 40mm industry and have decades of proven experience behind them. This partnership, if solidified, will be a great step forward for SDI and its shareholder's".
SDI is also happy to announce that they have revamped their corporate website under new branding, which better represents the company. The new site can be viewed at www.securitydii.com.
About Security Devices International Inc. SDI is a defense technology company specializing in the development of innovative next generation solutions for security situations that do not require the use of lethal force, or ammunition. SDI is currently in the advanced stages of deploying their patent pending family of products. These products consist of; the Blunt Impact Projectile 40mm (BIP40), and the Wireless Electric Projectile 40mm (WEP40). The Market sectors for these products include; the military, army, navy, air force, peacekeeping, homeland security, and law enforcement professionals. The Company's products were designed for a standard 40mm ammunition casing, for use with standard issue weapons such as riot guns and M203 grenade launchers.
Security Devices has not authorized the release of this press release in any form that contravenes any law or regulation and will not be responsible for the unsolicited distribution of this material by e-mail or facsimile by unauthorized parties. Statements in this press release, which are not historical facts, are "forward looking statements" within the meaning given to that term in the private Securities Litigation Reform Act of 1995.
Security Devices intends that such forward -looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, actual results could differ materially from expected results.
For more information about the Company visit: www.securitydii.com
Contacts: Security Devices International Inc. Gregory Sullivan Direct line: (202)-538-1677 gsullivan@securitydii.com www.securitydii.com
Source: Security Devices International Inc.
Released April 12, 2011
