<SEC-DOCUMENT>0001062993-16-011809.txt : 20161020
<SEC-HEADER>0001062993-16-011809.hdr.sgml : 20161020
<ACCEPTANCE-DATETIME>20161020154024
ACCESSION NUMBER:		0001062993-16-011809
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20161020
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161020
DATE AS OF CHANGE:		20161020

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:		161944394

	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
<TEXT>

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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><B>WASHINGTON, D.C.
20549 </B><BR></P>
<P align=center><U>____________________________</U></P>
<P align=center><B><FONT size=5>FORM 8-K </FONT></B></P>
<P align=center><U>____________________________</U></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>October 20, 2016 </B></TD>
    <TD align=center width="50%"><B>333-132456 </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><FONT size=5>SECURITY DEVICES INTERNATIONAL INC.
</FONT></B><B></B><BR>(Exact name of registrant as specified in its
charter)<BR></P>
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style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
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  <TR vAlign=top>
    <TD align=center><B>Delaware </B></TD>
    <TD align=center width="50%"><B>71-1050654 </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</B><B></B><B>Sawyer</B><B></B><B>Passway,</B><B></B><B>Fitchburg</B><BR><B><U>Massachusetts,</U></B><B><U></U></B><B><U>01420</U></B><B>
</B><BR>(Address of Principal Executive Offices) (Zip Code)<BR></P>
<P align=center><B>905-582-6402 </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><B>Item 9.01 Financial Statements and Exhibits</B></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=justify>Not applicable.</P>
<P align=justify>(d) <B>Exhibits.</B></P>
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  </TABLE><BR>
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="10%"><U><STRONG>Exhibit No.</STRONG> </U></TD>
    <TD><U><STRONG>Description</STRONG> </U></TD></TR>
  <TR>
    <TD vAlign=top width="10%"></TD>
    <TD></TD></TR>
  <TR>
    <TD width="10%" bgColor=#eeeeee><a href="exhibit99-1.htm"><U><FONT color=#0000ff>99.1</FONT></U>
    </a> </TD>
    <TD bgColor=#eeeeee><U><a href="exhibit99-1.htm"><FONT color=#0000ff>News Release Dated October 18,
      2016 &#150;SDI announces Debenture Offerings</FONT></a></U></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="exhibit99-2.htm"><U><FONT color=#0000ff>99.2</FONT></U>
    </a> </TD>
    <TD>
      <P align=justify><U><a href="exhibit99-2.htm"><FONT color=#0000ff>News Release Dated October 20,
      2016-SDI signs Master Distribution Agreement and Appoints New Board
      Member</FONT></a></U></P></TD></TR></TABLE>
<P align=center><B>SIGNATURES</B></P>
<P align=justify>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>
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  <TR vAlign=top>
    <TD align=left></TD>
    <TD align=left width="50%">SECURITY DEVICES INTERNATIONAL INC. </TD></TR>
  <TR>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="50%">&nbsp;</TD></TR>
  <TR>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>October 20, 2016 </TD>
    <TD align=left width="50%"><U>/s/ </U><I><U>Dean&nbsp;
      </U></I><I><U>Thrasher&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </U></I>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Name: Dean Thrasher </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Title: President &amp; CEO
</TD></TR></TABLE><BR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>

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<P align=right>EXHIBIT 99.1 </P>
<P align=center>For Immediate Release </P>
<P align=center>NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE U.S. </P>
<P align=center><B>SDI Announces Debenture Offerings </B></P>
<P align=justify><B>FITCHBURG, Mass</B>.- October 18, 2016 (TSX-V:SDZ)
(OTCBB:SDEV) &#150; Security Devices International Inc. (&#147;SDI&#148; or the &#147;Company&#148;)
announced today that it intends to seek financing of up to USD $1,500,000 from
the sale of senior secured convertible debentures (the &#147;Senior Secured
Debentures&#148;). It is a condition of the offering that not less than 80% of SDI&#146;s
outstanding unsecured debentures (the &#147;Unsecured Debentures&#148;) are exchanged for
debentures (the &#147;Subordinate Secured Debentures&#148;) described below, unless
otherwise agreed by investors in the Senior Secured Debentures. </P>
<P align=justify>The issuance of Senior Secured Debentures and Subordinate
Secured Debentures are non-brokered private placements. Subject to all
applicable securities laws, the Company may pay, to persons who are instrumental
in arranging accepted subscription agreements, cash compensation equal to 2% of
the principal amount of the Subordinate Secured Debentures and Senior Secured
Debentures arranged by such persons. </P>
<P align=justify>The net proceeds from the sale of Senior Secured Debentures
will be used to purchase product technology, to make capital investments in
appropriate licenses for operational purposes, to expand the Company&#146;s
salesforce and for working capital purposes. </P>
<P align=justify>The closing of the Senior Secured Debenture offering and the
Subordinate Secured Debenture offering is conditional upon receipt of all
required regulatory approvals (including approval of the TSX Venture Exchange).
</P>
<P align=justify>The Subordinate Secured Debentures have not been and will not
be registered under the Securities Act of 1933 (the &#147;<U>U.S. Act</U>&#148;). Except
to the extent permitted by the U.S. Act, the Subordinate Secured Debentures may
not be offered or sold in the United States and this news release does not
constitute an offer to sell or a solicitation of an offer to buy any of the
Subordinate Secured Debentures within the United States or to U.S. persons. </P>
<P align=justify><U>Subordinate Secured Debentures</U> </P>
<P align=justify>Subordinate Secured Debentures may only be purchased in
exchange for Unsecured Debentures valued at the amount owing under those
Unsecured Debentures at the time of closing (including both principal and
accrued interest). If the value of the Unsecured Debentures delivered in payment
for Subordinate Secured Debenture is not a whole multiple of CAD $1,000, the
number of Subordinate Secured Debentures issued to a subscriber will be rounded
down to the nearest whole number and the Subscriber will receive a cash payment
equal to the balance remaining. </P>
<P align=justify>The Subordinate Secured Debentures will mature 30 months
following issuance and will bear interest at 12% per annum payable
semi-annually. The Subordinate Secured Debentures will be secured against the
undertaking, property and assets of SDI and they will be subordinate to the
security for the Senior Secured Debentures. The Subordinate Secured Debentures
are convertible into common shares of SDI at a conversion price equal to the
conversion price of the Senior Secured Debentures, but in any event no more than
USD $0.24.</P>
<P align=justify>The Company may redeem some or all of the Subordinate Secured
Debentures at any time upon 30 days written notice and upon payment of the
principal plus accrued interest and bonus interest. If the
Subordinate Secured Debentures are redeemed within the first 12 months, bonus interest will equal 100% of the additional interest which would have been earned on those Subordinate Secured Debentures until maturity. Thereafter the bonus interest will
be equal to 50% of the additional interest which would have been earned on those Subordinate Secured Debentures until maturity.</P>
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<P align="justify">
If there is a change of control, the holders of Subordinate Secured Debentures may elect to require the Company to redeem their debentures for an amount equal to the principal plus accrued interest and an additional payment.  The additional payment
will be equal to the greater of (a) 100% of the additional interest which would have been earned on those Subordinate Secured Debentures until maturity, and (b) the amount the holders of those Subordinate Secured Debentures would have received as a
result of the change of control had those Subordinate Secured Debentures been converted into common shares of the Company immediately prior to the change of control. A change of control shall be deemed to have occurred if any person, or group of
persons acting in concert, acquires beneficial ownership or control of more than 50% of the issued and outstanding common shares of the Company (including a change of control arising out of a take-over bid, private placement, merger or other
transaction). </P>
<P align="justify">
<U>Senior Secured Debentures</U> </P>
<P align="justify">
Concurrent with the offering of Subordinate Secured Debentures for Unsecured Debentures, the Company is seeking to raise up to USD &#36;1,500,000 from the sale of Senior Secured Debentures. It is a condition of closing the offering of Senior Secured
Debentures that not less than 80% of the Unsecured Debentures are exchanged for Subordinate Secured Debentures, unless otherwise agreed by the investors in Senior Secured Debentures. </P>
<P align="justify">
The Senior Secured Debentures will be reserved for investors who loan new money to the Company. The terms under which new money will come into the Company are under negotiation.  However, the Company expects that the Senior Secured Debentures will
be on substantially the same terms as the Subordinate Secured Debentures except that the Senior Secured Debentures will be denominated in US dollars and that the Senior Secured Debentures will bear interest at 10% per annum. </P>
<P align="justify">
The Senior Secured Debentures will be secured by the same undertaking, property and assets which secure the Subordinate Secured Debentures but the security for the Senior Secured Debentures will rank ahead of the security for the Subordinate Secured
Debentures. </P>
<P align="justify">
SDI expects that one or more purchasers of Senior Secured Debentures may be a related party of SDI for the purposes of Multilateral Instrument 61-101 ("<U>MI 61-101</U>"). The Company is exempt from the formal valuation requirement and shareholder
approval requirement of MI 61-101, as described in more detail in the material change report to be filed in connection with this private placement. Having regard to these exemptions and the Company&rsquo;s desire to close the private placement as
soon as possible, the Company believes that it is reasonable to close the private placement less than 21 days after the date of this news release. </P>
<P align="justify">
The Senior Secured Debentures have not been and will not be registered under the Securities Act of 1933 (the &ldquo;<U>U.S. Act</U>&rdquo;). This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
Senior Secured Debentures. </P>
<P align="justify">
<U>Unsecured Debentures</U> </P>
<P align="justify">
The Unsecured Debentures were issued in August 2014 and come due on August 6, 2017. They are unsecured, bear interest at 12% per annum and are convertible into common shares of the Company at &#36;0.50 per share. There are currently CAD
&#36;1,549,000 of Unsecured Debentures outstanding. </P>

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<P align="justify">
<B>About Security Devices International Inc.</B> </P>

<P align="justify">
SDI is a defense technology company specializing in the sale of innovative, next generation non-lethal ammunition. The Company&rsquo;s solutions are a safer alternative to conventional crowd control devices currently in the marketplace, such as
beanbags, batons, as well as plastic, wood and rubber bullets. SDI is currently deploying their family of non-lethal munitions to law enforcement, correctional services and homeland security agencies across the globe. </P>
<P align="justify">
<B>FORWARD-LOOKING STATEMENTS </B></P>
<P align="justify">
Certain statements in this news release constitute forward-looking statements. These statements relate to future events or SDI&rsquo;s future performance and include the use of proceeds from the sale of Senior Secured Debentures and the expectation
that one or more purchasers of Senior Secured Debentures may be related parties. 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.  Although SDI intends to use the net proceeds from the sale of Senior Secured Debentures as stated, the Company may reallocate those proceeds for sound business reasons. The Company has not received a
subscription from any related party and there is no assurance that such a subscription will be received.  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. </P>
<P align="justify">
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. </P>
<P align="justify">
CONTACT: <BR>
Security Devices International Inc. <BR>
Dean Thrasher, 905-582-6402 ext 104 <BR>
President &amp; CEO <BR>
www.securitydii.com <BR>
</P>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exhibit99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>


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<P align=right>EXHIBIT 99.2 </P>
<P align=center>For Immediate Release </P>
<P align=center><B>SDI Signs Master Distribution Agreement and Appoints New
Board Member </B></P>
<P align=justify><B>FITCHBURG, Mass</B>.- October 20, 2016 (TSX-V:SDZ)
(OTCBB:SDEV) &#150; Security Devices International Inc. (&#147;SDI&#148; or the &#147;Company&#148;)
announced today the signing of a master distribution agreement with Tac Wear
Inc., and the appointment of Karen Bowling to the board of directors.</P>
<P align=justify>SDI is pleased to announce that the Company has signed a
three-year master distribution agreement with Tac Wear Inc. (&#147;TW&#148;). TW is a
leading supplier to law enforcement, military, corrections, and private security
professionals in Canada and the US. SDI and TW have developed a buy-sell
arrangement where TW will distribute SDI&#146;s 40mm line of products through their
distribution networks in Canada, the US and internationally. In turn, SDI will
sell and distribute TW&#146;s full line of tactical gear including body armor,
shields, helmets, boots, and holsters to their customer base and through
existing channels.</P>
<P align=justify>An additional arrangement between the two companies is a full
end-user training program that will be launched in both the US and Canada in the
first quarter of 2017. </P>
<P align=justify>Dean Thrasher SDI&#146;s President &amp; CEO states, &#147;Signing a
master distribution agreement that includes a full training program with Tac
Wear, aligns our strategy to increase our product and services footprint in the
less-lethal sector. Tac Wear&#146;s line of gear is a premium brand that will
contribute to broadening our offerings to agencies looking for quality products
from a single source&#148;.</P>
<P align=justify>The Company is also pleased to announce the appointment of
Karen Bowling to the board of directors. </P>
<P align=justify>Ms. Bowling brings more than 25 years of diverse executive
management experience to the board of SDI. Some of her skill-sets include;
government affairs, lobbying, public relations, government procurement,
marketing, communications, operations, and local and state level legislation.
Ms. Bowling has also spent part of her career in the less-lethal sector for a
long-range acoustic hailing device company.</P>
<P align=justify>Karen's recent positions include; Public Affairs Director at
Foley &amp; Lardner LLP, <FONT color=#222222>CEO at WiseEye AI, (an artificial
intelligence company focussed on the healthcare sector for CT scan
identification and classification), </FONT>Chief Administration Officer for the
city of Jacksonville, FL (with a budget in excess of one billion dollars and
over 5,000 employees), and Co-Founder and CEO of the Solantic Walk-In Urgent
Care Centers. Ms. Bowling has sat on and chaired numerous boards across a dozen
sectors, and has recently been Gubernatorial appointed to the board of the
Florida State College in Jacksonville.</P>
<P align=justify>&#147;SDI welcomes Karen to our board. She brings a wealth of
operational, government and marketing experience to the company, as well as
having worked previously in the less-lethal sector&#148;, comments Mr. Thrasher.
<FONT color=#222222></FONT></P>
<P align=justify>Additionally, the Company has granted stock options to Ms.
Bowling to purchase up to 350,000 common shares in the capital stock of the
Company, exercisable for a period of 5 years, at a price of $0.11 CAD per
share.</P>
<P align=justify><B>About Security Devices International Inc.</B> </P>
<P align=justify>SDI is a defense technology company specializing in the sale of
innovative, next generation non-lethal ammunition. The Company&#146;s solutions are a
safer alternative to conventional crowd control devices currently in the
marketplace, such as beanbags, batons, as well as plastic, wood and rubber
bullets. SDI
is currently deploying their family of non-lethal munitions to law enforcement, correctional services and homeland security agencies across the globe. </P>
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<P align="justify">
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. </P>
<P align="justify">
CONTACT: <BR>
Security Devices International Inc. <BR>
Dean Thrasher, 905-582-6402 ext 104 <BR>
President &amp; CEO <BR>
www.securitydii.com <BR>
</P>

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