Security Devices International Inc. Enters into OEM Agreement with Mission Less Lethal
PERRY, Fla.--(BUSINESS WIRE)-- Security Devices International Inc. (“SDI”) (TSX-V:SDZ) (OTCBB:SDEV) with U.S. offices in Perry, FL and Fitchburg, MA is pleased to announce the signing of a multi-year OEM agreement with Mission Less Lethal (Mission), headquartered in Fort Wayne, IN. Under this agreement, SDI will be able to offer its customers a full line of .68 caliber chemical irritant projectiles and air-powered launchers produced by Mission Less Lethal. Mission Less Lethal is the world leader in the design, development, and manufacture of .68 caliber projectiles and launchers, currently in use by thousands of law enforcement agencies in the U.S. and around the world. Mission’s manufacturing division, Tippmann, has a long history of supporting OEM programs, having supplied systems to well-known less lethal companies including PepperBall Technologies, Inc., and United Tactical Systems, LLC.
The .68 caliber launchers and projectiles are an important addition to SDI’s line of less lethal munitions. Currently, SDI’s flagship product line, the Blunt Impact Projectile (BIP) leads the 40mm (high-kinetic) less lethal segment in range, accuracy, and most importantly safety. Capable of delivering over 200 joules of kinetic energy the BIP is designed to stop an assailant with a single shot (without causing permanent injury or death). Similarly, SDI’s extensive range of 12 gauge munitions including bean bags, rubber finned rockets, rubber balls and door breaching rounds provide law enforcement with a wide array of less lethal tools. Producing between 110-150 joules of energy these products offer a complete solution set in the mid-to-high kinetic segment. Now, the addition of a .68 caliber line of chemical irritant projectiles and launchers fills a critical gap in SDI’s offering by servicing the low kinetic impact segment. At only 15 joules of energy these systems rely more on the dispersion of chemical irritants than on impact energy. Together, these products give SDI, and their customer agencies, the most comprehensive range of less lethal solutions available.
SDI will be marketing these .68 caliber projectiles and launchers under the Mini Ball™ brand with a full roll-out in Q2-2017. Our goal is to provide our dealers, distributors and law enforcement agencies with the widest possible array of less lethal options so that officers always have the correct tool for the job they need to do. Bryan Ganz, President of SDI, stated “the addition of the .68 caliber chemical projectiles and launchers fills a critical hole in SDI’s product offering. We decided to partner with Mission Less Lethal because their quality is second to none and they are the clear technology leader when it comes to the .68 caliber space.”
The Company furthermore announces the issuance of 1,150,000 options under the SDI option plan to specified management. These options have an expiry date of March 27, 2022 with an exercise price of $0.13.
Certain statements in this news release constitute forward-looking statements. These statements relate to future events or SDI’s future performance and include the expansion of SDI’s product offering and the completion of several development projects. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of SDI believes are reasonable assumptions on the date of this news release, SDI cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and SDI disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
About Security Devices International Inc.
SDI is a technology company specializing in the areas of Military, Law Enforcement, Corrections, and Private Security. The Company develops and manufactures innovative, less lethal equipment and munitions that are safe, effective, and reliable.
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Source: Security Devices International Inc.
Released March 28, 2017