Security Devices International Announces $2.5 Million Financing
3 January 2007
Security Devices International, Inc. (OTC Bulletin Board: SDEV), developers of the patent-pending LEKTROX(TM) family of non-lethal ammunition solutions, announced today that it has raised $2,525,000 from the sale of its common stock to a group of private investors. The shares were sold in the private offering at a price of $1.00 per share and are restricted securities as that term is defined in Rule 144 of the SEC.
The funding will enable SDI to complete the final stages of the development of its unique 3rd generation LEKTROX(TM) Wireless Bullet and lead to the establishment of its future production facilities.
"The backing by this group of sophisticated investors is another indication of confidence in SDI's LEKTROX(TM) family," commented SDI's CEO, Sheldon Kales. "And it helps secure our projection that the LEKTROX(TM) Wireless Electric Bullets will indeed soon be made available for roll out to the military, homeland security, law enforcement, professional and domestic security markets."
More about the LEKTROX(TM) Wireless Electric Bullet
Carrying its own built-in Wireless Electro-Muscular Disruption Technology (W-EMDT), LEKTROX(TM) is being designed to instantly incapacitate targets at an effective range of up to 60 yards without causing serious injury or lethality.
The ideal answer to a wide range of military and other security sector needs, the LEKTROX(TM) extended range wireless ammunition is being designed for use with standard issue 37/38mm and 40mm riot guns and M203 grenade launchers, and with 12-guage version shotguns.
W-EMDT -- A safe and Effective Technology
SDI's new ammunition family incorporates a number of patent-pending solutions that will make the LEKTROX(TM) extremely safe for users and highly effective against potential targets.
Safe during all stages of storage, transportation, handling and loading, LEKTROX(TM) ammunition is locked until activated by contact with the target. LEKTROX(TM) then transfers kinetic energy to release its Multiple Mini-Harpoon mechanism and activate the built-in electrical system. Additional mechanisms and the use of collapsible materials further reduce the projectile's kinetic energy.
Fixed irremovably to the target, the bullet emits a high voltage, low current W-EMDT charge that imitates the body's own electro-neural impulses. This pulse overrides the target's nervous system inducing a harmless muscle spasm that causes the target to fall helplessly to the ground.
The LEKTROX(TM) electric output is designed in line with stringent medical equipment standards that protect patients from permanent injury, and operates at lower than critical cardio-fibrillation levels, enabling full recovery with no clinical after effects. Thus LEKTROX(TM) helps decreases liability for wrongful injury or death.
More about SDI
Security Devices International, Inc. was incorporated in Delaware, U.S.A. in 2005. SDI's R&D is carried out in Israel by Lead Engineering Ltd., specialists in the field of non-lethal technologies for the defense industries and supported by an internationally renowned team of specialists.
For more information about SDI, its management team and the innovative LEKTROX(TM) solution, please visit our website: http://www.lektrox.com
Contact us at:
info@lektrox.com
Toll Free: 1-877-LEKTROX, or 416-787-1871
120 Adelaide Street West, Suite 2500, Toronto Ontario M5H 1T1
Security Devices has not authorized the release of this press release in any form that contravenes any law or regulation and will not be responsible for the unsolicited distribution of this material by e-mail or facsimile by unauthorized parties. Statements in this press release, which are not historical facts, are "forward looking statements" within the meaning given to that term in the Private Securities Litigation Reform Act of 1995. Security Devices intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, actual results could differ materially from expected results.
Source: prnewswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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