October 23, 2012 08:33 ET
SDI Signs Engagement Letter with Macquarie Private Wealth Inc.
WASHINGTON, DISTRICT OF COLUMBIA–(Marketwire – October 23, 2012) - Security Devices International Inc. (SDI) (OTCBB:SDEV) is pleased to announce that it has entered into an Engagement Letter with Macquarie Private Wealth Inc. (“Macquarie”), pursuant to which Macquarie will act as agent on a commercially reasonable efforts basis for an offering of common shares of the Company for gross proceeds of $2,000,000 pursuant to a prospectus. The number of common shares and price will be determined upon filing of the prospectus. The prospectus will also serve as a listing application for the Company’s shares to be listed on the TSX Venture Exchange and will be filed in Ontario, Alberta, and British Columbia.
The proceeds from this offering will be used to move SDI forward with its line of non-lethal ammunition products and provide the Company a springboard to compete in the global defense marketplace.
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. SDI is currently in the market-entry stage of deploying their family of non-lethal ammunition to global military’s, law enforcement and correctional agencies.
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. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these 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. This press release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any “U.S Person” (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “1933 Act”)) of any equity or other securities of SDI. The securities of SDI have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act. 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.For more information about the Company visit: www.securitydii.com
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