SECURITY DEVICES INTERNATIONAL INC. (OTCMKTS:SDEV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Dean Thrasher has resigned from the board of directors effective July 9, 2019.
William B. Richards has been elected to the Board of Directors effective July 9, 2019. He is expected to serve as Chair of the Nominating/Governance Committee and as a member of the Strategic Planning committee.
Beatrice Mitchell has been elected to the Board of Directors effective July 9, 2019. She is expected to serve as Chair of the Strategic Planning Committee and as a member of the Compensation Committee.
Herbert Hughes has been elected to the Board of Directors effective July 9, 2019. He is expected to serve as chairman of the Audit Committee and as a member of the Compensation Committee.
Stan Baumgartner, who holds an MBA and is a CPA, has been hired effective July 15, 2019. It is anticipated that he will transition to be the Companys full time Chief Financial Officer, following the filing of the Companys financial statements for the quarter ended May 31, 2019 and regulatory filings related thereto.
All directors and officers will be compensated to proposed plans to be approved by the Compensation Committee and the Board.
See additional information related to these events in the attached Exhibit 99.1.
Item 8.01 Other Events.
The Company recently reviewed the effectiveness of certain of its chemical irritant self-defense projectiles in response to a complaint from one user that he had received an ineffective round. The Company found no problem with the Byrna Black rounds; however, the testing process led to refinement of the Byrna Black formulation, and these changes have increased the effectiveness of the rounds.
See additional information related to these events in the attached Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
| /s/Bryan Ganz | |
| ( Security Devices International Inc. Exhibit EX-99.1 2 exhibit99-1.htm EXHIBIT 99.1 Security Devices International Inc. – Exhibit 99.1 – Filed by newsfilecorp.com SECURITY DEVICES INTERNATIONAL INC. EXPANDS BOARD AND FINANCIAL CAPABILITIES Company Reports Positive Results of Testing on the Effectiveness of its Chemical Irritant Rounds WAKEFIELD,… To view the full exhibit click here
About SECURITY DEVICES INTERNATIONAL INC. (OTCMKTS:SDEV) Security Devices International, Inc. (SDI) is a less-lethal defense technology company. The Company’s segments include the U.S.A. and Canada. It is specialized in the development, manufacturing and sale of next generation less-lethal ammunition. This ammunition is used by the military, correctional services and police agencies for crowd control. SDI’s 40 millimeter (mm) less-lethal weapon technology can be used over both short, as well as long distances. The Company has two products, which include Blunt Impact Projectile 40 millimeter (BIP) and Wireless Electric Projectile 40 millimeter (WEP). Its BIP family of ammunitions include BIP (Standard); BIP MP: Marking Powder; BIP ML: Marking Liquid; BIP OC: Oleoresin Capsicum; BIP MO: Malodorant; BIP DNA: Forensic Marking; BIP CS: Tear Gas Powder, and BIP TR: Training Round. The Company offers SDI Instructor Training Course, which provides professionally skilled instructors in less-lethal training. |