November 02, 2012 08:00 ET
WASHINGTON, DISTRICT OF COLUMBIA–(Marketwire – Nov. 2, 2012) - In conjunction with the filing of a listing application to the TSX Venture Exchange, Security Devices International Inc. (“SDI” or “The Company”) (OTCBB:SDEV) is pleased to name Duane Parnham and David Goodbrand to the board of directors as independents, effective immediately.
“I am pleased to welcome both Duane and David to the board of directors of Security Devices International,” said Gregory Sullivan, President / Chief Executive Officer. “Duane brings to SDI, a wealth of experience in all aspects of listed companies, and his contribution will be invaluable as we take our company to the next level. Duane’s vast experience in corporate finance, governance and international M&A activity greatly strengthens our team. He will play an important role in accelerating our growth both in the short and long term.” Mr. Sullivan adds, “David, working on a daily basis in a tactical SWAT capacity, will give the Company helpful insight into the ever changing needs of law enforcement officials.”
Duane Parnham has a 30-year track record, which includes working internationally with various governments to identify high-impact and underdeveloped projects, and providing necessary capital and managerial resources to bring them to fruition. He has founded and developed multiple resource-focused companies, including Forsys Metals Corp., Angus Mining Namibia Inc. and Temex Resources Corp. More notably, he served as Executive Chairman for UNX Energy Corp., assisting in the facilitation of its acquisition by HRT Participações em Petróleo S.A. for approximately C$730 million in 2011. Duane is currently the Executive Chairman and a director of Giyani Gold Corp (TSX VENTURE:WDG).
David Goodbrand brings 18 years of service and experience as a Constable, Detective, Sergeant, and Tactical Support Supervisor for police and SWAT agencies. David’s wealth of knowledge in the law enforcement and special agencies sectors will assist the Company on the front lines of non-lethal usage. David is also the Chairman of the Ontario Tactical Advisory Board (OTAB – the governing body of SWAT teams), which is a branch of the Association of the Ontario Chiefs of Police including 36 tactical teams from Ontario, Quebec, Saskatchewan, and Manitoba. David also garners experience with an Emergency Response Unit, Street Crime Unit, Policy and Planning, and within the Tactical Support Unit; hostage rescue, explosive force entry, hostage taking, armed resistance, and dignitary security.
Effective with the appointments, Mr. Parnham and Mr. Goodbrand have each been granted options to purchase common shares of the Company. Each such option may be exercised at a price of $0.45 cents per share, for a period of four years.
The Company would also like to announce as mentioned in a press release dated Oct. 2, 2012, it has received the issuance of its Department of Transportation number, allowing the Company to ship their products, globally.
Security Devices International Inc. (“SDI” or “The Company”) is a defense technology company specializing in the development of innovative, next generation non-lethal ammunition. SDI is currently in the market-entry stage of deploying their family of non-lethal ammunition to global militaries, 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.
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