<SEC-DOCUMENT>0001157523-17-003153.txt : 20171129
<SEC-HEADER>0001157523-17-003153.hdr.sgml : 20171129
<ACCEPTANCE-DATETIME>20171129060055
ACCESSION NUMBER:		0001157523-17-003153
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171128
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171129
DATE AS OF CHANGE:		20171129

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:				711050654
		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:		171226699

	BUSINESS ADDRESS:	
		STREET 1:		9325 PUCKETT ROAD
		CITY:			PERRY
		STATE:			FL
		ZIP:			32348
		BUSINESS PHONE:		905-582-6402

	MAIL ADDRESS:	
		STREET 1:		9325 PUCKETT ROAD
		CITY:			PERRY
		STATE:			FL
		ZIP:			32348
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51722302.htm
<DESCRIPTION>SECURITY DEVICES INTERNATIONAL, INC. 8-K
<TEXT>
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      <br>
      <br>
      <font style="font-size: 12pt"><b>UNITED STATES</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>WASHINGTON,
      D.C. 20549</b></font><br><br><font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>FORM 8-K</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT </b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>PURSUANT
      TO SECTION 13 OR 15(D)&#160;OF THE </b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>SECURITIES
      EXCHANGE ACT OF 1934</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">

    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-left:auto;margin-right:auto; margin-bottom: 10.0px" cellspacing="0">
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        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="font-size: 10pt">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>November
            28, 2017</b></font>
          </p>
        </td>
        <td style="padding-right: 0.0px; white-space: nowrap; width: 50%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>333-132456</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="font-size: 10pt">
            <font style="font-size: 10pt; font-family: Times New Roman">Date
            of Report (Date of earliest event reported)</font>
          </p>
        </td>
        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Commission File Number
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-size: 14pt"><b>SECURITY DEVICES INTERNATIONAL, INC.</b></font><br><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font>
    </p>
    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware </b>
          </p>
        </td>
        <td style="padding-right: 0.0px; white-space: nowrap; width: 50%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>71-1050654</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of incorporation or
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            organization)
          </p>
        </td>
        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer Identification Number)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-left:auto;margin-right:auto; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          <b>107 Audubon Road, Suite 201</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Wakefield, MA 01880</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          (Address of Principal Executive Offices) (Zip Code)
        </td>
      </tr>
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        <td style="text-align: center; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; white-space: nowrap; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(978)-868-5011</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
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        <td style="text-align: center; padding-left: 0.0px" valign="top">
          (Registrant&#8217;s telephone number, including area code)
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      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>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405
      of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).
    </p>
    <p>
      Emerging Growth Company <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act. <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="white-space: nowrap; text-align: justify">
      <b>Item 3.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unregistered Sale of Equity Securities </b>
    </p>
    <p>
      On November 28, 2017 &#8211; Security Devices International Inc. (&#8220;<u>SDI</u>&#8221;
      or the &#8220;<u>Company</u>&#8221;) completed a private placement (the
      &#8220;Private Placement&#8221;) for the sale of 35,783,612 units (the &#8220;Units) at
      $0.106 per Unit for gross proceeds of USD$3,793,063.
    </p>
    <p style="text-align: justify">
      Each Unit consists of one (1) common share of the Company&#8217;s common stock
      (a &#8220;Common Share&#8221;) and one-half (1/2) of one Common Share purchase
      warrant (each whole warrant, a &#8220;Warrant&#8221;). Each Warrant is exercisable
      into one Common Share on or before November 28, 2022 at an exercise
      price of $0.18. If the average closing price of the Common Shares is
      over USD$0.36 per share for a period of 20 consecutive trading days
      ending after November 28, 2019, the Company may give notice to the
      registered holders of the Warrants accelerating the expiry date to a
      date not less than 30 days following the date of such notice.
    </p>
    <p style="text-align: justify">
      In connection with the Private Placement, the Company paid a placement
      agent $60,669.00 in cash commission and issued to the placement agent
      572,354 &#8220;Agent Warrants.&#8221; Each Agent Warrant is exercisable into one
      Common Share on or before November 28, 2022 at an exercise price of
      $0.15. If the average closing price of the Common Shares is over
      USD$0.30 per share for a period of 20 consecutive trading days ending
      after November 28, 2019, the Company may give notice to the registered
      holders of the Agent Warrants accelerating the expiry date to a date not
      less than 30 days following the date of such notice.
    </p>
    <p style="text-align: justify">
      The Units, the Warrants, the Agent Warrants, and the shares of Common
      Stock issuable upon exercise of the Warrants and the Agent Warrants were
      issued in reliance upon the exemption from registration provided by
      Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D
      promulgated thereunder.&#160; This Current Report on Form 8-K shall not
      constitute an offer to sell or the solicitation of an offer to buy, nor
      shall there be any sale of these securities in any state in which such
      offer, solicitation or sale would be unlawful prior to the registration
      or qualification under the securities laws of such state.<br><br><br><b>Item
      9.01 &#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits</b>
    </p>
    <p style="white-space: nowrap">
      &#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <b>Financial
      Statements of Business Acquired.</b>
    </p>
    <p>
      Not applicable.
    </p>
    <p style="white-space: nowrap">
      (b) <b>&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pro Forma Financial Information.</b>
    </p>
    <p>
      Not applicable.
    </p>
    <p style="white-space: nowrap">
      (c) <b>&#160;&#160;&#160;&#160;&#160;&#160;&#160; Shell Company Transaction.</b>
    </p>
    <p>
      Not applicable.
    </p>
    <p style="white-space: nowrap">
      (d) <b>&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exhibits.</b>
    </p>
    <p style="white-space: nowrap">
      <a href="a51722302ex99_1.htm">99.1</a> &#160;&#160;&#160;&#160;&#160;<b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</b><a href="a51722302ex99_1.htm">Press
      Release entitled &#8220;SDI Announces Closing of Private Placement&#8221; dated as
      of November 28, 2017</a>
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
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        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          2
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        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
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      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      <font style="font-size: 10pt; font-family: Times New Roman">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.</font>
    </p>
    <p>
      <br>

    </p>
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      <tr>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            SECURITY DEVICES INTERNATIONAL, INC.
          </p>
        </td>
      </tr>
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        <td style="width: 45%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
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        <td style="width: 45%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
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        <td style="width: 45%; text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">
          &#160;
        </td>
      </tr>
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        <td style="width: 45%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            November 28, 2017
          </p>
        </td>
        <td style="width: 5%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 50%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>/s/ Dean Thrasher</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Name:
          </p>
        </td>
        <td style="width: 50%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Dean Thrasher
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Title:
          </p>
        </td>
        <td style="width: 50%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Executive Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      3
    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51722302ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>SDI
      Announces Closing of Private Placement</b></font>
    </p>
    <p>
      WAKEFIELD, Mass.--(BUSINESS WIRE)--November 28, 2017--(TSX-V:SDZ)
      (OTCQB:SDEV) Security Devices International Inc. (&#8220;<u>SDI</u>&#8221; or
      the &#8220;<u>Company</u>&#8221;) announces the sale of 35,783,612 units on a
      private placement basis for gross proceeds of USD$3,793,063.
    </p>
    <p>
      Each unit consists of one common share of SDI stock and one-half of a
      warrant. Each whole warrant is exercisable for one common share of SDI
      stock on or before November 28, 2022 at an exercise price of USD$0.18.
      If the average closing price of the common shares is over USD$0.36 per
      share for a period of 20 consecutive trading days ending after November
      28, 2019, SDI may give notice to the registered holders of the warrants
      accelerating the expiry date to a date not less than 30 days following
      the date of that notice.
    </p>
    <p>
      J Streicher Capital, LLC (the &#8220;Agent) acted as exclusive agent for the
      brokered portion of the private placement which totaled USD$1,922,348.
      The Agent received a cash commission of USD$60,669 and 572,354 agent
      warrants. Each agent warrant is exercisable for one common share of SDI
      stock on or before November 28, 2022 at an exercise price of USD$0.15.
      If the closing price of the common shares is over USD$0.30 per share for
      a period of 20 consecutive trading days ending after November 28, 2019,
      SDI may give notice accelerating the expiry date of the agent warrants
      to a date not less than 30 days following the date of that notice.
    </p>
    <p>
      The issuer raised an additional USD$1,870,715 in a non-brokered
      transaction on which no commission was due. SDI has applied
      USD$1,757,671 of these net proceeds to pay out all the senior
      convertible debentures issued by SDI on December 7, 2016, as well as an
      additional USD$113,044 in debt.
    </p>
    <p>
      The securities issued in the private placement are restricted and
      subject to a four-month holding period that expires on March 28, 2018
      under TSXV stock exchange rules and Canadian securities legislation, and
      a six-month holding period expiring on May 28, 2018 under US securities
      laws.
    </p>
    <p>
      SDI&#8217;s CEO Dean Thrasher commented on the funding, &#8220;Closing the financing
      gives the Company the capital to expand our intellectual property
      licensing efforts as well as launch our e-commerce store where the
      company plans to offer its products online to law enforcement and
      correctional services end-users.&#8221;
    </p>
    <p>
      Paul Jensen, SDI&#8217;s President, commented on the opportunities that this
      additional capital provides for SDI. &#8220;SDI is looking to expand into new
      areas with new and exciting products. This additional capital will allow
      the company to increase its research and development efforts as it looks
      to bring innovative new products to market.&#8221;
    </p>
    <p>
      SDI issued USD$297,262 of units to subscribers who are related parties
      of SDI under Canadian Multilateral Instrument 61-101 (&quot;MI 61-101&quot;). SDI
      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&#8217;s desire to close the
      private placement as soon as possible, the Company believes that it was
      reasonable to close the private placement prior to that material change
      report.
    </p>
    <p>
      The units, warrants, agent warrants, and the shares of common stock
      issuable upon exercise of the warrants and agent warrants were issued in
      reliance upon the exemption from registration provided by Section
      4(a)(2) of the Securities Act and Rule 506(b) of Regulation D
      promulgated thereunder.&#160;This news release shall not constitute an offer
      to sell or the solicitation of an offer to buy, nor shall there be any
      sale of these securities in any state in which such offer, solicitation
      or sale would be unlawful prior to the registration or qualification
      under the securities laws of such state.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u>About Security Devices International</u>
    </p>
    <p>
      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.
    </p>
    <p>
      <u>Forward Looking Statements</u>
    </p>
    <p>
      This news release contains forward-looking statements. More
      particularly, this news release contains statements about the
      anticipated use of proceeds and the sufficiency of the proceeds to
      launch SDI&#8217;s e-commerce strategy of online munition sales. The
      forward-looking statements are based on certain expectations and
      assumptions made by the Company. Although the Company believes that
      those expectations and assumptions are reasonable, undue reliance should
      not be placed on the forward-looking statements because the Company can
      give no assurance that they will prove to be correct. Since
      forward-looking statements address future events and conditions, by
      their very nature they involve inherent risks and uncertainties. Actual
      results could differ materially from those anticipated due to a number
      of factors and risks. The intended use of the net proceeds of the
      offering could change if the Company determines that it would be in the
      best interests of the Company to use the proceeds for some other
      purpose. The proceeds may not be sufficient to launch the e-commerce
      strategy if costs exceed current estimates or the proceeds are
      reallocated for a different purpose. The forward-looking statements
      contained in this press release are made as of the date hereof. The
      Company 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 laws.
    </p>
    <p>
      <i>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.</i>
    </p>
    <p>
      CONTACT:<br>Security Devices International Inc.<br>Dean Thrasher,
      905-582-6402<br>Chief Executive Officer<br><u>dthrasher@securitydii.com</u>
    </p>
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