Wakefield, Massachusetts--(Newsfile Corp. - January 23, 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.
The Company has made a share issuance to Paul Jensen under the employment agreement announced August 28, 2017. SDI issued 134,938 common shares at a deemed price of CAD$0.1967 per share to satisfy the payment balance of non-cash payment for the quarter.
Additionally, the Company has issued 500,000 common shares to Bryan Ganz pursuant to his agreement dated June 1, 2018 with the Company, under which Mr. Ganz is to provide his services as President of the Company.
The Company has also issued 180,000 common shares to 2412457 Ontario Corp. (a corporation controlled by Dean Thrasher), pursuant to 2412437 Ontario Corp.'s agreement with the Company dated July 1, 2018 under which 2412437 Ontario Corp. provides the services of Dean Thrasher as Executive Chairman to the Company.
Additionally, the Company has issued 166,666 common shares to Lisa Klein Wager pursuant to her consulting agreement dated October 29, 2018, under which Ms. Wager is to provide services as General Counsel to the Company.
Additionally, the Company has issued 134,938 common shares to Andre J. Buys Sr. pursuant to his consulting agreement dated October 15, 2018 at a deemed price of CAD$0.1967 per share to satisfy the payment under which Mr. Buys Sr. provided engineering consulting services to the Company.
Each of Mr. Jensen, Mr. Ganz, Mr. Thrasher, Ms. Wager, and Mr. Buys Sr. (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.
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 .
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CONTACT:
Security Devices International Inc.
Paul Jensen, CEO
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