|By Business Wire||
|June 24, 2014 11:15 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.
SDI announces that as per the Company’s growth strategy, it will be arranging a brokered private placement, pending TSX Venture Exchange approval. Security Devices International Inc. has engaged Fin-XO Securities Inc. to arrange a financing, on a best efforts basis, for gross proceeds totaling no less than $1,000,000 but no more than $1,500,000 via convertible debenture.
The terms of the convertible debenture include a non-secured instrument, having a thirty-six (36) month maturity, carrying an interest rate of twelve percent (12%) per annum payable in cash on a semi-annual basis. The principal amount of the debentures are convertible at the holder’s option at any time into SDI common shares at a conversion price of fifty cents ($0.50). Upon TSX Venture Exchange approval the private placement is set to close on or before July 31, 2014.
The Company intends to use the proceeds from this private placement for the expansion and build-out of its network sales force in order to increase the global reach for sales of it’s full family of 40mm less-lethal ammunition. As well, in adhering to the Company’s goal of providing timely and orderly delivery of product to end-users, the management team will be building a sizable inventory of fully assembled, manufactured Blunt Impact Projectiles (BIPs). This inventory “stock-piling” will allow SDI to fulfill any potential orders at a rapid pace.
Fin-XO Securities Inc. is a member of the Investment Industry Regulatory Organization of Canada (IIROC), the TSX Venture Exchange and the Canadian Investor Protection Fund (CIPF) and is registered as a Full Service Investment Dealer in Quebec, Ontario, Alberta, British Columbia, New Brunswick, Manitoba, Saskatchewan and Nova Scotia. Fin-XO is Quebec’s second largest independent full-service investment dealer. The firm provides its private and institutional clients with access to a diversified range of investment products and services based on expertise acquired in the field of investments since its inception in 1989.
Additionally, in conjunction with the May 5th press release announcing Keith Morrison as the new Chairman of the Board of Directors, SDI announces that the terms of stock option grant include the award of 600,000 options at an exercise price of $0.35 with an expiry of May 2019.
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.
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
Dec. 27, 2014 04:00 AM EST Reads: 2,518
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrateg...
Dec. 27, 2014 03:00 AM EST Reads: 1,791
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
Dec. 27, 2014 03:00 AM EST Reads: 1,785
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
Dec. 27, 2014 02:00 AM EST Reads: 2,229
Dec. 27, 2014 12:00 AM EST Reads: 2,623
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
Dec. 26, 2014 04:00 PM EST Reads: 1,878
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
Dec. 26, 2014 04:00 PM EST Reads: 2,245
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
Dec. 26, 2014 01:00 PM EST Reads: 2,664
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
Dec. 26, 2014 01:00 PM EST Reads: 2,089
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
Dec. 26, 2014 12:30 PM EST Reads: 1,914
Dec. 26, 2014 12:00 PM EST Reads: 1,753
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
Dec. 26, 2014 11:15 AM EST Reads: 2,412
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 26, 2014 11:00 AM EST Reads: 1,857
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
Dec. 26, 2014 11:00 AM EST Reads: 2,058
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
Dec. 26, 2014 11:00 AM EST Reads: 1,971