MRO Magazine

SDI Announces Fully Subscribed Non-Brokered Private Placement


May 29, 2015
By Business Wire News

TAMPA, Fla

(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 announced today that it has accepted a USD$2,500,000 subscription for the sale of 7,575,757 common shares at a price of USD$0.33 (CDN$0.41) per share on a non-brokered private placement basis. There will be no broker commissions or fees associated with this subscription.

The subscriber is a United States based, strategic investor. The common shares will be subject to a hold period of four months from closing under stock exchange rules and a hold period of 12-months under SEC rules.

The proceeds from the placement will be used for growth opportunities, sales and marketing initiatives, new product releases, as well as general working capital.

Upon completion of the private placement, the subscriber will own approximately 13.9% of the outstanding common shares of the Company. The closing of the private placement is subject to approval of the new insider by the TSX-Venture Exchange, as required under stock exchange rules. The Company expects that the stock exchange will require up to four weeks to complete its approval process.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.

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. More particularly, this press release contains forward-looking statements concerning the timing of closing the offering, the anticipated use of proceeds and the receipt of the required approvals. 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. In addition to other risks, the closing of the offering could be delayed if SDI is not able to obtain necessary approvals when planned and the offering will not be completed at all if approvals are not obtained or some other condition to the closing is not satisfied. Accordingly, there is a risk that the offering will not be completed within the anticipated time or at all. The intended use of the proceeds of the offering by SDI might change if SDI determines that it would be in the best interests of SDI to use the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof. 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.
Dean Thrasher, 905-582-6402 x 104
COO
www.securitydii.com