Security Devices International Lists on TSX Venture Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 11, 2013) - Security Devices International (TSXV: SDZ) (OTCQB: SDEV) is the latest new listing on the TSX Venture Exchange. A prospectus was filed in Canada, with Macquarie Private Wealth placing 9,984,950 shares at $0.40, raising the company $3.99 million in gross proceeds. The prospectus is available for viewing on Sedar.com.
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The company, in existence since 2005, was formed to develop non-lethal solutions to agencies seeking an alternative to existing less effective non-lethal ammunitions on the market. It is in the market-entry phase of deploying their family of innovative, next generation, non-lethal ammunition to global military, law enforcement and correctional agencies.
The company’s blunt impact projectile is designed to provide an alternative to previous blunt impact solutions such as foam, sponge and rubber bullets. The expansion of the head enables force to be applied to an increased body impact area, covering a large surface area of nerve endings, creating increased pain, while dispersing the inertia. The collapsible head can be filled with such things as marking powder, semipermanent marking liquid, and pepper spray.
The company’s wireless electric projectile, which can cover distances up to 165 feet, was developed to answer the growing need for an effective, wireless, extended range electrical incapacitation solution. When the projectile engages a target, its multiple mini-harpoon mechanism is released, affixing to the target’s clothing or body, releasing a high voltage, low energy pulse which imitates the electro-neural impulses used by the human body. This results in an immediate harmless muscle spasm, causing the subject to comply with authorities.
There are 46.8 million shares outstanding, and given its current price of $0.40, the company is capitalized at $18.7 million.
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Barry Morgan, CFO