<SEC-DOCUMENT>0001062993-16-010310.txt : 20160624
<SEC-HEADER>0001062993-16-010310.hdr.sgml : 20160624
<ACCEPTANCE-DATETIME>20160624170049
ACCESSION NUMBER:		0001062993-16-010310
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160624
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160624
DATE AS OF CHANGE:		20160624

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Security Devices International Inc.
		CENTRAL INDEX KEY:			0001354866
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-132456
		FILM NUMBER:		161731658

	BUSINESS ADDRESS:	
		STREET 1:		4830 WEST KENNEDY BLVD., SUITE 600
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33609
		BUSINESS PHONE:		905-582-6402

	MAIL ADDRESS:	
		STREET 1:		4830 WEST KENNEDY BLVD., SUITE 600
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33609
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
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   <TITLE>Security Devices International Inc. - Form 8-K - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES </FONT></B><BR><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT></B><BR>Washington, D.C. 20549
</P>
<P align=center><B><FONT size=5>FORM 8-K </FONT></B></P>
<P align=center><B>CURRENT REPORT </B><BR><B>PURSUANT TO SECTION 13 OR 15(D) OF
THE </B><BR><B>SECURITIES EXCHANGE ACT OF 1934 </B><BR></P>
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  <TR vAlign=top>
    <TD align=center><B><U>June 20, 2016 </U></B></TD>
    <TD align=center width="50%"><B><U>333-132456 </U></B></TD></TR>
  <TR vAlign=top>
    <TD align=center>Date of Report (Date of earliest event reported) </TD>
    <TD align=center width="50%">Commission File Number </TD></TR></TABLE>
<P align=center><B><U><FONT size=5>SECURITY DEVICES INTERNATIONAL,
INC.</FONT></U></B><B> </B><BR>(Exact name of registrant as specified in its
charter) </P>
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  <TR vAlign=top>
    <TD align=center><B><U>Delaware </U></B></TD>
    <TD align=center width="50%"><B><U>71-1050654 </U></B></TD></TR>
  <TR vAlign=top>
    <TD align=center>(State or other jurisdiction of incorporation or </TD>
    <TD align=center width="50%">(I.R.S. Employer Identification Number) </TD></TR>
  <TR vAlign=top>
    <TD align=center>organization) </TD>
    <TD align=center width="50%">&nbsp; </TD></TR></TABLE>
<P align=center><B>25 Sawyer Passway </B><BR><B><U>Fitchburg, Massachusetts
01420</U></B><BR>(Address of Principal Executive Offices) (Zip Code) </P>
<P align=center><B><U>(905)-582-6402</U></B><B> </B><BR>(Registrant&#146;s telephone number,
including area code) <BR></P>
<P align=justify>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:</P>
<P align=justify>[&nbsp;&nbsp; ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425) </P>
<P align=justify>[&nbsp;&nbsp; ] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a -12) </P>
<P align=justify>[&nbsp;&nbsp; ] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b)) </P>
<P align=justify>[&nbsp;&nbsp; ] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c)) </P>
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<P align=justify><STRONG>Item
5.02</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG> Departure of
Certain Directors or Offices; Appointment of Principal Officer </STRONG></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
June 20, 2016 Security Devices International, Inc. (the &#147;Company&#148;) announced
that Gregory Sullivan will be resigning as the Company&#146;s President and Chief
Executive Officer effective July 15, 2016. Mr. Sullivan is expected to continue
to provide services to the Company through July 15, 2016 in order to facilitate
a smooth transition. Dean Thrasher, the Company&#146;s Chief Operating Officer and a
member of the Company&#146;s Board of Directors, will assume the role of interim
President and Chief Executive Officer. Mr. Sullivan also resigned as a director
of the Company, effective upon the earlier of September 1, 2016, or until his
successor is duly named and qualified. Mr. Sullivan&#146;s resignation was not the
result of any dispute or disagreement with the Company on any matter relating to
the Company&#146;s operations, policies or practices. </P>
<P align=justify><STRONG>Item
7.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <STRONG>Regulation FD
Disclosure </STRONG></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
June 20, 2016, the Company issued a press release acknowledging a Schedule 13D
filing by NLW1, LLC and its affiliates. A copy of the press release is furnished
as Exhibit 99.1 to this Current Report on Form 8-K.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
accordance with General Instruction B.2 of Form 8-K, the information being
furnished under this Item 7.01, including Exhibit 99.1, shall not be deemed to
be filed for purposes of Section 18 of the Securities Exchange Act of 1934, or
otherwise subject to the liabilities of that section, nor shall it be deemed
incorporated by reference into any other registration statement or other
document filed by the Company under the Securities Act of 1933, except as
expressly set for by specific reference in such filing.</P>
<P align=justify><B>Item 8.01 Other Events </B></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
June 20, 2016, the Company announced it has entered into a consulting agreement
(the &#147;Consulting Agreement&#148;) with Northeast Industrial Partners LLP
(&#147;Northeast&#148;). Under the Consulting Agreement, Northeast will provide certain
sales &amp; marketing and operational consulting services to the Company for a
one-year term, beginning as of May 15, 2016. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the Consulting Agreement, and subject to the approval of the TSX Venture
Exchange, the Company shall issue to Northeast the number of shares of the
Company&#146;s common stock (the &#147;Shares&#148;) that is equal to US$200,000 as
consideration. The Shares will be issued in four (4) quarterly installments,
with the first installment due on August 15, 2016. The Shares will be priced at
the volume weighted average trading price per Share over the twenty (20) day
period immediately preceding the due date.</P>
<P align=justify><STRONG>Item
9.01</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG> Financial
Statements and Exhibits</STRONG> </P>
<P align=justify>(a) <B>Financial Statements of Business Acquired.</B></P>
<P align=justify>Not applicable.</P>
<P align=justify>(b) <B>Pro Forma Financial Information.</B></P>
<P align=justify>Not applicable.</P>
<P align=justify>(c) <B>Shell Company Transaction.</B></P>
<P align=center>2</P>
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<P align=justify>Not applicable.</P>
<P align=justify>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B>Exhibits.</B></P>
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  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><a href="exhibit99-1.htm">99.1 </a></TD>
    <TD align=left width="90%" bgColor=#eeeeee><a href="exhibit99-1.htm">Press Release by Security
      Devices International, Inc. dated June 20, 2016 </a></TD>
  </TR></TABLE>
<P align=center><B>SIGNATURES</B> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized. </P>
<P style="MARGIN-LEFT: 50%" align=justify>SECURITY DEVICES INTERNATIONAL, INC.
</P>
<P align=justify>&nbsp;</P>
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  <TR vAlign=top>
    <TD align=left>June 22, 2016 </TD>
    <TD align=left
      width="50%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      &nbsp;&nbsp; <U>/s/ Dean Thrasher</U> </TD></TR>
  <TR vAlign=top>
    <TD align=left></TD>
    <TD align=left width="50%">Name:&nbsp;&nbsp;&nbsp;&nbsp;Dean Thrasher
  </TD></TR>
  <TR vAlign=top>
    <TD align=left></TD>
    <TD align=left width="50%">Title:&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Chief
      Operating Officer </TD></TR></TABLE>
<P align=center>3</P>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P align=justify><B>SDI Announces Resignation of CEO, Names New Interim CEO, and
Brings on Management Consultant </B></P>
<P align=justify><B>Fitchburg, MA &#150; June 20, 2016 (TSX-V: SDZ) (OTCBB: SDEV)
</B></P>
<P align=justify>Security Devices International Inc. (&#147;SDI&#148; or the &#147;Company&#148;)
today announced that Gregory Sullivan has resigned as President and CEO to
pursue other opportunities, effective July 15, 2016. Mr. Sullivan will assist
management in a smooth transition with ongoing projects and relationships until
the July 15, 2016 date. </P>
<P align=justify>Dean Thrasher, the current COO and a member of the SDI board of
directors will assume the interim role of President and CEO. Mr. Sullivan will
remain on the board of directors until his replacement is appointed and receives
stock exchange clearance, or September 1, 2016, whichever occurs first. </P>
<P align=justify>Mr. Thrasher commented; "The Company wishes to thank Mr.
Sullivan for his service as President and CEO, and wishes him the best of luck
in his new endeavors&#148;. </P>
<P align=justify>The Company has signed a one-year consulting agreement with
Northeast Industrial Partners LLP (&#147;Northeast&#148;), which is headed up by Mr. Bryan
Ganz. Northeast will assist SDI with sales &amp; marketing, expansion of the
Company&#146;s product range, review of operations, implementation of cost control
measures, development of strategic alliances and financial oversight. Mr. Ganz
brings more than 30 years of experience in sales management, manufacturing, new
product design and development as well as mergers &amp; acquisitions. During his
career Mr. Ganz has bought, built and sold more than half a dozen global
businesses with combined sales in excess of $1.0 billion. Most recently, Mr.
Ganz sold Maine Industrial Tire LLC to Trelleborg (based out of Sweden), for $67
million generating a 7.0x return to investors over a three-year period. </P>
<P align=justify>For their services and subject to stock exchange approval,
Northeast will be issued a value of US$200,000 in SDI stock in four quarterly
installments over the 12-month period ending May 15, 2017. The first quarterly
installment is due August 15, 2016. The stock will be priced at the volume
weighted average trading price per common share over the 20 day period preceding
the due date. The stock will vest at the end of the contract with Northeast.</P>
<P align=justify>NEIP is currently the controlling shareholder in two operating
businesses and a 250 unit residential real estate portfolio in the New England
area. Northeast also owns minority stakes in a number of public and private
businesses including a California company developing wireless electricity. Mr.
Ganz is a graduate of Columbia Law School in New York City and completed his
accounting designation at Georgetown University in Washington DC. </P>
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<P align=justify>The Company wishes to inform the market that a Schedule 13D was
filed with the SEC on June 8, 2016 by SDI&#146;s largest group of shareholders in the
US, holding approximately 10,474,522 shares. The 13D filing by the &#147;reporting
persons&#148; relates to the maximizing of shareholder value with the intention of
engaging more substantively with management, the board of directors and other
relevant parties on matters concerning the business, assets, capitalization,
operations and strategy of SDI. The 13D filing says that the reporting person
may also discuss strategic alternatives with interested parties to propose or
consider extraordinary transactions including joint ventures, mergers or a sale
transaction of the Company. </P>
<P align=justify><U><FONT
color=#0000ff>http://www.sec.gov/Archives/edgar/data/1354866/000115752316005828/a51358
470.htm</FONT></U></P>
<P align=justify><B>Forward Looking Statement </B></P>
<P align=justify>The information in this news release includes certain
information and statements about management&#146;s view of future events,
expectations, plans and prospects that constitute forward looking statements.
Because of certain risks and uncertainties and as a result of a variety of
factors, the actual results, expectations, achievements or performance may
differ materially from those anticipated and indicated by these forward looking
statements. Although SDI believes that the expectations reflected in forward
looking statements are reasonable, it can give no assurances that the
expectations of any forward-looking statements will prove to be correct.</P>
<P align=justify>NEITHER THE 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. </P>
<P align=justify><I>For additional information on SDI contact: </I></P>
<P align=justify><I>Allen Ezer, </I><BR><I>Exec. VP </I><BR><I>T: 416-453-7798
</I><BR><I>Or visit: </I><I><U><FONT
color=#0000ff>www.securitydii.com</FONT></U></I><I> </I><BR></P>
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