|By Business Wire||
|May 5, 2014 06:37 AM EDT||
Security Devices International Inc. (“SDI” or “The Company”) is a defense technology company specializing in the development, manufacturing and sale of innovative, next generation non-lethal ammunition.
As per Security Devices International Inc.’s 2014 Annual Meeting of Stockholders, which was held on April 30th, the Company’s shareholders have approved all of the proxy proposals. Of note, the approval of the “2013 Plan”, which consolidated the prior Incentive Stock Option Plan, a Non-Qualified Stock Option Plan and a Stock Bonus Plan into a sole Incentive Arrangement Plan was granted. In conjunction with the plan change, SDI is proud to announce the appointment of Keith Morrison as Chairman of the Board.
Mr. Morrison is the CEO of Gedex Inc, a private Canadian technology company that is developing the world’s most advanced dynamic gravity gradiometry systems, which will be used by the global resource exploration, military, homeland security and space related industries. He is currently on the Board of Directors of Marengo Mining, a TSX listed company with a Copper Deposit in Papua New Guinea. He was a co-founder and CEO of Quantec Geoscience from 1986 until 2008, that developed industry leading ground geophysical subsurface imaging technologies and has completed more than 3000 resource projects around the world. Keith has an undergraduate degree in Engineering Geophysics from Queen’s University and has completed the ICD Director’s Education Program at the University of Toronto Rotman School of Business. Mr. Morrison’s extensive business experience and corporate governance focus, will assist SDI in the next phase of the Company’s growth.
Additionally, the Board of Directors, along with the management team wishes to thank Mr. Duane Parnham for his assistance through the initial phases of SDI’s growth and help in becoming a TSX Venture Exchange listed company. Mr. Parnham has fulfilled his championing role and was not seeking re-election due to time constraints. The SDI team looks forward to continued assistance in executing on the potential sales avenues that have been initiated.
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.