Security Devices International Inc. Announces Share Issuances and Management Changes
Wakefield, Massachusetts--(Newsfile Corp. - April 2, 2019) - Security Devices International Inc. (CSE: SDZ) (OTCQB: SDEV) ("SDI" or the "Company") announces the issuance of shares (the "Shares") of its common stock to management and consultants and management changes.
On April 1, 2019 Security Devices International, Inc. (the "Company") made a share issuance to Bryan Ganz ("Ganz"), the Company's President under his consulting agreement dated June 1, 2018. The Company issued 333,333 common shares for the term December 1, 2018 to March 31, 2019 for his services.
The Company also issued shares to 2412457 Ontario Corp. ("2412") (a corporation controlled by Dean Thrasher), the Company's Executive Chairman under his consulting agreement dated June 1, 2018. The Company issued 180,000 common shares for the term January 1, 2019 to March 31, 2019 for his services.
The Company also issued 250,000 shares to Lisa Klein Wager ("Wager"), the Company's General Counsel for her services from January through March of 2019.
Each of Mr. Ganz, Mr. Thrasher, and Ms. Wager (and, accordingly, 2142457 Ontario Corp.) is a related party of SDI under Multilateral Instrument 61-101 ("MI 61-101"). SDI is exempt from the formal valuation requirement and shareholder approval requirement of MI 61-101 in connection with the foregoing issuances. The shares are subject to a four-month hold period.
The Company also announced the following management changes. The Chief Executive Officer, Paul Jensen, has retired and resigned effective April 1, 2019 as CEO. He will remain a director. Dean Thrasher, who has served as Executive Chairman and Corporate Secretary of the Board has resigned effective April 1, 2019 from these positions giving him the ability to pursue other endeavors. He will remain a director. Bryan Ganz, the Company's President, will assume the title and responsibilities of CEO effective April 1, 2019, and continue to serve as Chairman of the Board. Lisa Klein Wager, who was appointed effective October 29, 2018 as the Company's General Counsel and Chief Legal Officer, will continue to serve in those capacities and also has been appointed as Corporate Secretary to take over those responsibilities from Mr. Thrasher effective April 1, 2019.
About Security Devices International Inc.
Security Devices International, Inc. is a technology company specializing in the areas of Personal Security Devices, Military, Law Enforcement, Corrections, and Private Security. The Company develops and manufactures innovative, less lethal equipment and munitions. For more information on SDI, please visit the corporate website here.
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