SDI Signs Letter of Intent with King Abdullah II Design and Development Bureau
WAKEFIELD, Mass.--(BUSINESS WIRE)-- (TSX-V: SDZ) (OTCQB: SDEV) Security Devices International Inc. (“SDI” or the “Company”) announces the signing of a Letter of Intent (“LOI”) with the King Abdullah II Design and Development Bureau (“KADDB”), the Hashemite Kingdom of Jordan.
The LOI was formalized to establish a partnership between SDI and KADDB to open a production line in Jordan to supply SDI’s less lethal 40mm munitions in the Middle East and North Africa (“MENA”) region. The Middle East Non-Lethal Weapons Market is expected to grow at a CAGR of 6.15% until 2020, according to the firm Research and Markets.
“We are very excited to develop our partnership with SDI,” said KADDB CEO Support Brig. Gen. Eng. Mohammad Arajneh, “SDI has proven themselves to be leaders in innovating new technologies that offer improved safety, accuracy and effectiveness in the use of less lethal force.”
Paul Jensen, President of SDI added, “KADDB is an ideal partner for SDI to introduce our patented collapsible head technology into one of our targeted areas, the MENA region. Jordan, through the establishment of KADDB, continues to demonstrate real leadership in the region by embracing innovative solutions and advanced technologies to serve National Security. We are honored to assist them in this worthy effort.”
For more information, visit us at the Special Operations Forces Exhibition and Conference (SOFEX), May 8-10, Amman Jordan, in the KADDB exhibit.
About Security Devices International
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.
About KADDB
KADDB is an independent government entity within the Jordan Armed Forces (“JAF”) aiming at becoming a global defense and security research and development hub in the region. The Bureau’s scope of work includes Defense Design and Development, Test and Evaluation, Technology Incubation in the Kingdom, and Defense Technology Training.
Forward-Looking Statements
- This press release contains forward-looking statements about SDI. Forward-looking statements may be identified by the use of words like “believe,” “expect,” “anticipate,” “estimate,” “plan,” “consider,” “project,” and similar references to the future. Forward-looking statements reflect SDI’s good-faith evaluation of information available at the time the forward-looking statements were made. These forward-looking statements are subject to a number of risks and uncertainties, and our actual results may differ materially from those projected. Please refer to SDI’s annual and quarterly reports filed with the SEC for a full discussion of those risks and uncertainties we view as most important. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. We undertake no obligation to update or revise forward-looking statements.
About Security Devices International
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.
NEITHER 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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Security Devices International Inc.
Paul Jensen
President & COO
[email protected]
www.securitydii.com
Source: Security Devices International Inc.
Released April 23, 2018