<SEC-DOCUMENT>0001062993-18-004779.txt : 20181121
<SEC-HEADER>0001062993-18-004779.hdr.sgml : 20181121
<ACCEPTANCE-DATETIME>20181121060840
ACCESSION NUMBER:		0001062993-18-004779
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20181211
FILED AS OF DATE:		20181121
DATE AS OF CHANGE:		20181121
EFFECTIVENESS DATE:		20181121

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:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-132456
		FILM NUMBER:		181196954

	BUSINESS ADDRESS:	
		STREET 1:		107 AUDUBON ROAD
		STREET 2:		BLDG 2, SUITE 201
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880
		BUSINESS PHONE:		978-868-5011

	MAIL ADDRESS:	
		STREET 1:		107 AUDUBON ROAD
		STREET 2:		BLDG 2, SUITE 201
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>sched14a.htm
<DESCRIPTION>FORM DEF 14A
<TEXT>
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   <TITLE>Security Devices International Inc. - Schedule DEF 14A - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES </FONT><BR><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT></B><BR>Washington, D.C. 20549
</P>
<P align=center><B><FONT size=5>SCHEDULE 14A </FONT></B></P>
<P align=center>Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 </P>
<P align=justify>Filed by the Registrant X <BR>Filed by a Party other than the
Registrant [&nbsp;&nbsp; ]</P>
<P align=justify>[&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Check the
appropriate box: <BR>[&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preliminary
Proxy Statement <BR>[&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))</STRONG>&nbsp;<BR>&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Definitive Proxy Statement <BR>[&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Definitive Additional Materials <BR>[&nbsp;&nbsp;
]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting Material Pursuant to &#167;240.14a -12</P>
<P align=center><B><U><FONT size=5>SECURITIES DEVICES INTERNATIONAL
INC.</FONT></U> </B><BR>(Name of Registrant as specified in its charter)
<BR></P>
<P
align=center>_______________________________________________________<BR>(Name
of Person(s) Filing Proxy Statement), if other than Registrant) </P>
<P align=center>Payment of Filing Fee (Check the appropriate box): </P>
<P align=justify>X&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No fee
required. <BR>[&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fee computed on
table below per Exchange Act Rules 14a-6(i)(1) and 0-11. <BR></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Title of each class of securities to which transaction
      applies:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>Aggregate number of securities to which transaction
      applies:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>Per unit price or other underlying value of transaction
      computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which
      the filing fee is calculated and state how it was determined):</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>Proposed maximum aggregate value of
transaction:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>Total fee paid:</P></TD></TR></TABLE>
<P align=justify>[&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fee paid
previously with preliminary materials. </P>
<P align=justify>[&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Check box if any
of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify
the filing for which the offsetting fee was paid previously. Identify the
previous filing by registration statement number, or the Form or Schedule and
the date of its filing. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Amount Previously Paid:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>Form, Schedule or Registration Statement No.:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>Filing Party:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>Date Filed:</P></TD></TR></TABLE><BR>
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<A name="page_2"></A><BR>

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<A name=page_3></A>
<P align=center><IMG
src="sdilogo.jpg"
border=0> </P>
<P align=center><B><U><FONT size=6>SECURITY DEVICES INTERNATIONAL
INC.</FONT></U></B></P>
<P align=center><B><U><FONT size=5>2018 Annual and Special Meeting of
Stockholders</FONT></U> </B></P>
<P align=center><B><U><FONT size=5>Proxy Statement</FONT></U> </B></P>
<P align=right>&nbsp;</P>
<P align=right>&nbsp;</P>
<P align=right>&nbsp;</P>
<P align=right>2 </P>
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noShade SIZE=5>
<A name=page_4></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B><FONT color=#000080>Contents </FONT></B></TD>
    <TD align=right width="5%" >&nbsp; </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_7">QUESTIONS
      AND ANSWERS ABOUT PROXY MATERIALS AND VOTING</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_7">6</A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_12">PROPOSAL
      1 &#151; ELECTION OF DIRECTORS </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_12">11
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A
      href="#page_12">General
      Questions</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_12">11
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A
      href="#page_12">Information
      On The Board, Executive Officers, And Key Employees And Director
      Nominees</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_12">11
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_16">CORPORATE
      GOVERNANCE</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_16">15
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_20">EXECUTIVE
      COMPENSATION</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_20">19
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_23">SECURITY
      OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_23">22
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A
      href="#page_23">Principal
      Stockholders</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_23">22
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A
      href="#page_24">Security
      Ownership of Management</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_24">23
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_25">INTEREST
      OF CERTAIN PERSONS AND CORPORATIONS IN MATTERS TO BE ACTED UPON</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_25">24
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_25">CERTAIN
      RELATIONSHIPS AND RELATED TRANSACTIONS</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_25">24
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A
      href="#page_25">Purchases
      of Securities</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_25">24
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_27">PROPOSAL
      2 &#151; RATIFICATION OF APPOINTMENT OF THE AUDITOR </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_27">26
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_28">PROPOSAL
      3 &#151; APPROVAL OF THE AMENDMENT OF THE COMPANY&#146;S CERTIFICATE OF
      INCORPORATION TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF COMMON STOCK
      TO 300,000,000</A></TD>
    <TD align=right width="5%"  bgColor=#eeeeee ><A
      href="#page_28">27
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A
      href="#page_28">Overview
      of the Revised Stock Option Plan (2017)</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_28">27
      </A></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="5%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_29">OTHER
      MATTERS</A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_29">28</A></TD></TR></TABLE>
<P align=right>3 </P>
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<P align=center><B>SECURITY DEVICES INTERNATIONAL INC. </B><BR>107 Audubon Road,
Building 2, Suite 201 <BR>WAKEFIELD &#149; MA &#149; USA &#149; 01880 </P>
<P align=center><B><U>Notice of Annual and Special Meeting of
Stockholders</U></B> </P>
<P align=justify>To all Stockholders of Security Devices International Inc.:
</P>
<P align=justify>You are invited to attend the 2018 Annual and Special Meeting
of Stockholders (the &#147;Annual Meeting&#148;) of Security Devices International Inc.
(the &#147;Company&#148; or &#147;SDI&#148;). The Annual Meeting will be held at <B>Security Devices
International Inc.</B>, 107 Audubon Road, Building 2, Suite 201, Wakefield, MA
01880 USA<B> on</B> <B>December 11</B>, <B>2018, at 10:00 am EST</B>. The
purposes of the Annual Meeting are: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>To receive the audited consolidated financial statements
      of the Company of and for the fiscal year ended November 30,
  2017.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>
      <P align=justify>&nbsp;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>To elect five (5) directors of the Company (each a
      &#147;Director&#148; and collectively, the &#147;Directors&#148;) to serve until the close of
      the 2019 Annual Meeting of Stockholders.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>
      <P align=justify>&nbsp;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top align=left width="5%">3. </TD>
    <TD align=left>
      <P align=justify>To ratify the appointment of UHY McGovern Hurley LLP as
      independent registered public accountant (the &#147;auditors&#148;) for the Company
      to hold office until the close of the 2019 Annual Meeting of Shareholders
      and to authorize the Company&#146;s Board of Directors to fix the auditors&#146;
      remuneration.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>
      <P align=justify>&nbsp;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">4. </TD>
    <TD>
      <P align=justify>To approve the amendment of the Company&#146;s Certificate of
      Incorporation to increase the number of authorized shares of common stock
      to 300,000,000.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>
      <P align=justify>&nbsp;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">5. </TD>
    <TD>
      <P align=justify>To transact such other business as may properly come
      before the meeting or any adjournments or postponements
  thereof.</P></TD></TR></TABLE>
<P align=justify>The Board of Directors has fixed November 5, 2018 as the record
date for the Annual Meeting. Only stockholders of the Company of record at the
close of business on that date will be entitled to notice of, and to vote at,
the Annual Meeting. A list of stockholders as of November 5, 2018 will be
available for inspection by any stockholder at our principal place of business,
107 Audubon Road, Building 2, Suite 201, Wakefield, MA 01880 USA starting
December 7, 2018, during normal business hours, and at the Annual Meeting.</P>
<P align=justify>Accompanying this notice of meeting is the Proxy Statement (the
&#147;Proxy Statement&#148;). Please review the Proxy Statement carefully and in full
prior to voting in relation to the matters set out above as the Proxy Statement
has been prepared to help you make an informed decision on such matters. </P>
<P align=justify>Shareholders are invited to attend the Annual Meeting. Record
shareholders who are unable to attend the Annual Meeting in person are requested
to vote by mail by completing, dating and signing the enclosed form of proxy
(the &#147;Proxy Card&#148;) and send it in the enclosed envelope to the Company's
co-transfer agent, TSX Trust Company, 301-100 Adelaide Street West, Toronto, ON,
Canada M5H 4H1, or vote via the Internet, by going to www.voteproxyonline.com
and following the instructions on the website, or by fax to Proxy Department
416-595-9593. Non-record shareholders who receive these materials through their
broker or other intermediary should follow the instructions provided by their
broker or intermediary. </P>
<P align=justify>For your vote to be effective, your voting instructions must be
received by Broadridge Financial Solutions, Inc. (&#147;Broadridge&#148;) or by the
Company&#146;s transfer agent not later than 10:00 a.m. (Eastern Time) on December 7,
2018, or, in the case of any adjournment of the Annual Meeting, not less than 48
hours, excluding Saturdays, Sundays and holidays, prior to the time of the
rescheduled meeting. The Chair of the Annual Meeting may, at his discretion,
accept late proxies or waive the time limit for deposit of proxies, but is under
no obligation to accept or reject any late proxy. If you have voted by proxy
using the Proxy Card, via fax or the Internet or by phone, any subsequent vote
by proxy through any of these methods will cancel any other proxy you may have
previously submitted in connection with the Annual Meeting, and only a later
dated proxy received prior to the deadline will be counted. </P>
<P align=right>4 </P>
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<A name=page_6></A>
<P align=justify>IMPORTANT </P>
<P align=justify>Whether or not you expect to attend the Annual Meeting, please
sign and return the enclosed proxy promptly. If you decide to attend the Annual
Meeting, you may, if you wish, revoke the proxy and vote your shares of common
stock in person. </P>
<P align=justify>By Order of the Board of Directors, </P>
<P align=justify>&nbsp;</P>
<P align=justify>/s/<U>Dean Thrasher</U> <BR>Secretary and Executive Chairman
<BR></P>
<P align=justify style="margin-left:50%">November 6, 2018 </P>
<P align=right>5 </P>
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<A name=page_7></A>
<P align=center><B>SECURITY DEVICES INTERNATIONAL INC. </B><BR>107 AUDUBON ROAD,
BUILDING 2, SUITE #210 <BR>WAKEFIELD &#149; MA &#149; USA &#149; 01180 <BR></P>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="60%" border=0>

  <TR>
    <TD style="BORDER-TOP: #000000 1px solid" align=center>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center><B>Proxy Statement</B> </TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid"
  align=center>&nbsp;</TD></TR></TABLE></DIV>
<P align=center><B>ANNUAL AND SPECIAL MEETING OF STOCKHOLDERS <BR>TO BE
HELD ON DECEMBER 11, 2018 </B><BR></P>
<P align=justify>Unless the context requires otherwise, references in this proxy
statement to &#147;SDI,&#148; the &#147;Company,&#148; &#147;we,&#148; &#147;us,&#148; or &#147;our&#148; refer to Security
Devices International Inc. </P>
<P align=justify>The Annual and Special Meeting of Stockholders (the &#147;Annual
Meeting&#148;) will be held at Security Devices International Inc., 107Audubon Road,
Building 2, Suite #210, Wakefield, MA 01880 USA<B>, on December 11, 2018, at
10:00am EST</B>. We are providing the enclosed proxy materials and form of proxy
in connection with the solicitation by our Board of Directors (the &#147;Board&#148;) of
proxies for this Annual Meeting. This proxy statement (the &#147;Proxy Statement&#148;)
will first be mailed to holders of our voting stock on or about November 16,
2018. </P>
<P align=justify><B>Whether or not you plan to attend the Annual Meeting, please
promptly provide your voting instructions.</B> Your promptness in voting will
assist in the expeditious and orderly processing of the proxies and in ensuring
that a quorum is present. If you vote your proxy, you may nevertheless attend
the Annual Meeting and vote your shares in person if you wish. Please note,
however, that if your shares are held of record by a broker or other nominee and
you wish to vote in person at the Meeting, you must follow the instructions
provided to you by your broker or such other nominee. If you want to revoke your
instructions at a later time prior to the vote for any reason, you may do so in
the manner described in this Proxy Statement. </P>
<P align=justify>All dollar amounts referred to in this Proxy Statement are in
United States dollars, unless otherwise indicated. </P>
<P align=justify><B>QUESTIONS AND ANSWERS ABOUT PROXY MATERIALS AND VOTING
</B></P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Why am I receiving this Proxy
Statement and proxy card? </I></B></P>
<P align=justify>You are receiving this Proxy Statement and proxy card because
you were a stockholder of record at the close of business on November 5, 2018
and are entitled to vote at the Annual Meeting. This Proxy Statement describes
issues on which we would like you, as a stockholder, to vote. It provides
information on these issues so that you can make an informed decision. You do
not need to attend the Annual Meeting to vote your shares of common stock. </P>
<P align=justify>When you sign the proxy card you appoint Dean Thrasher, our
Executive Chairman, and if Mr. Thrasher is unavailable, Bryan Ganz, our
President, and if neither of them is available, Paul Jensen, our Chief Executive
Officer, as your representative at the Annual Meeting. As your representatives,
they will vote your shares of common stock at the Annual Meeting (or any
adjournments or postponements) as you have instructed them on your proxy card.
With proxy voting, your shares will be voted whether or not you attend the
Annual Meeting. Even if you plan to attend the Annual Meeting, it is a good idea
to complete, sign and return your proxy card in advance of the Annual Meeting,
just in case your plans change. </P>
<P align=justify>If an issue comes up for vote at the Annual Meeting (or any
adjournments or postponements) that is not described in this Proxy Statement,
your representative will vote your shares of common stock, under your proxy, at
their discretion, subject to any limitations imposed by law. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>When is the record date?
</I></B></P>
<P align=justify>The Board has fixed November 5, 2018, as the record date for
the Annual Meeting. Only holders of shares of our voting stock as of the close
of business on that date will be entitled to vote at the Annual Meeting. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_8></A>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>How many shares are outstanding?
</I></B></P>
<P align=justify>As of November 5, 2019, we had 101,976,900 shares of common
stock (a &#147;Share&#148; or the &#147;Shares&#148;) issued and outstanding. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>What am I voting on?
</I></B></P>
<P align=justify>You are being asked to vote on the following: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>the election of five (5) Directors to serve until the
      close of the 2019 Annual Meeting of Stockholders (&#147;Proposal No.
  1&#148;);</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>the ratification of the appointment of UHY McGovern
      Hurley LLP (&#147;UHY&#148;) as auditors for the Company to hold office until the
      close of the 2019 Annual Meeting of Shareholders and authorization of the
      Company&#146;s Board of Directors to fix the auditors&#146; remuneration (&#147;Proposal
      No. 2&#148;);</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>To approve the amendment (the &#147;Amendment&#148;) of the
      Company&#146;s Certificate of Incorporation to increase the number of
      authorized shares of common stock to 300,000,000 (Proposal No. 3);
    and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">4. </TD>
    <TD>
      <P align=justify>to transact such other business as may properly come
      before the meeting or any adjournments or postponements
  thereof.</P></TD></TR></TABLE>
<P align=justify>The Board recommends that you vote &#147;FOR&#148; each of the numbered
proposals listed above. </P>
<P align=justify>In addition, you may be asked to vote in respect of any other
matters that may properly be brought before the Meeting. As of the date of this
Proxy Statement, the Board is not aware of any such other matters.</P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>How many votes do I get?
</I></B></P>
<P align=justify>Each share of common stock is entitled to one vote. No
cumulative rights are authorized and dissenters&#146; rights are not applicable to
any of the matters being voted upon. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>How do I vote? </I></B></P>
<P align=justify>The voting process is different depending on whether you are a
record (registered) or non-record shareholder. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>You are a record shareholder if your name appears on your
      share certificate. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>You are a non-record shareholder if your shares are held
      on your behalf by a bank, trust company, securities broker, trustee or
      other intermediary. This means the shares are registered in your
      intermediary&#146;s name, and you are the beneficial owner. Most shareholders
      are non-record shareholders. </P></TD></TR></TABLE>
<P align=justify>If you are a non-record shareholder, your intermediary will
send you a voting instruction form or proxy form with this Proxy Statement. This
form will instruct the intermediary how to vote your shares at the Meeting on
your behalf. You should carefully follow the instructions provided by the
intermediary and contact the intermediary promptly if you need help. The Company
intends to pay for delivery of proxy materials to beneficial owners. </P>
<P align=justify>If you are a non-registered owner, and the Company or its agent
has sent these materials directly to you, your name and address and information
about your holdings of securities, have been obtained in accordance with
applicable securities regulatory requirements from the intermediary holding on
your behalf. </P>
<P align=justify>By choosing to send these materials to you directly, the issuer
(and not the intermediary holding on your behalf) has assumed responsibility for
(i) delivering these materials to you, and (ii) executing your proper voting
instructions.</P>
<P align=right>7 </P>
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<P align=justify>If you do not intend to attend the Meeting and vote in person,
mark your voting instructions on the voting instruction form or proxy form, sign
it, and return it as instructed by your intermediary. Your intermediary may have
also provided you with the option of voting by telephone or fax or through the
Internet. </P>
<P align=justify>If you wish to vote in person at the Meeting, follow the
instructions provided by your intermediary. Your intermediary may have also
provided you with the option of appointing yourself or someone else to attend
and vote on your behalf at the Meeting through the Internet. When you arrive at
the Meeting, please register with the Inspector of Elections. </P>
<P align=justify>Your intermediary must receive your voting instructions in
sufficient time for your intermediary to act on them prior to the deadline for
the deposit of proxies of 10:00 a.m. (Eastern Daylight Time) on December 7,
2018, or at least 48 hours (excluding Saturdays, Sundays and holidays) before
the time of the scheduled Meeting. </P>
<P style="MARGIN-LEFT: 15%" align=justify><U>Record shareholders</U> </P>
<P align=justify>If you are a record shareholder, a Proxy Card is enclosed with
this Proxy Statement to enable you to vote, or to appoint a proxyholder to vote
on your behalf, at the Meeting. Whether or not you plan to attend the Meeting,
you may vote your shares by proxy by any one of the following methods: </P>
<P style="MARGIN-LEFT: 5%" align=justify><I>By mail</I>: Mark, sign and date
your Proxy Card and send to TSX Trust Company (&#147;TSX Trust&#148;) 301-100 Adelaide
Street West, Toronto, ON, Canada M5H 4H1. TSX Trust must receive your Proxy Card
not later than 10:00 a.m. (Eastern Daylight Time) on December 7, 2018 in order
for your vote to be counted. If the Meeting is adjourned or postponed, TSX Trust
must receive your Proxy Card at least 48 hours, excluding Saturdays, Sundays and
holidays, before the rescheduled Meeting. </P>
<P style="MARGIN-LEFT: 5%" align=justify><I>By Facsimile: </I>Fax your Proxy
Card to the attention of the Proxy Department 416-595-9593. </P>
<P style="MARGIN-LEFT: 5%" align=justify><I>Via the Internet</I>: Go to
www.voteproxyonline.com and follow the instructions on the website prior to
10:00 a.m. (Eastern Daylight Time) on December 7, 2018.</P>
<P align=justify>We provide Internet proxy voting to allow you to vote your
common stock online, with procedures designed to ensure the authenticity and
correctness of your proxy vote instructions. However, please be aware that you
must bear any costs associated with your Internet access, such as usage charges
from Internet access providers and telephone companies.</P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Can stockholders vote in person
at the Annual Meeting? </I></B></P>
<P align=justify>We will pass out written ballots to anyone who wants to vote at
the Annual Meeting. If you hold your shares of common stock through a brokerage
account but do not have a physical share certificate, or the shares are
registered in someone else&#146;s name, you must request a legal proxy from your
stockbroker or the registered owner to vote at the Annual Meeting. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>What if I change my mind after I
return my proxy? </I></B></P>
<P align=justify>If you are a non-registered Shareholder, you can revoke your
prior voting instructions by providing new instructions on a voting instruction
form or proxy form with a later date, or at a later time in the case of voting
by telephone or through the Internet. Otherwise, contact your Intermediary if
you want to revoke your proxy or change your voting instructions, or if you
change your mind and want to vote in person. Any new voting instructions given
to intermediaries in connection with the revocation with proxies must be
received in sufficient time to allow intermediaries to act on such instructions
prior to the deadline for the deposit of proxies of 10:00 a.m. (Eastern Daylight
Time) December 7, 2018, or at least 48 hours (excluding Saturdays, Sundays and
holidays) prior to the time of the rescheduled Meeting.<B> </B></P>
<P align=justify>If you are a record shareholder, you may revoke any proxy that
you have given until the time of the Meeting by voting again over the Internet
as instructed above, by signing and dating a new Proxy Card and submitting it as
instructed above, by giving written notice of such revocation to the Corporate
Secretary of the Company at our address, by revoking it in person at the Annual
Meeting, or by voting by ballot at the Annual Meeting. If you choose to submit a
proxy multiple times whether by over the Internet or by mail, or a combination
thereof, only your latest vote, not revoked and received prior to 10:00 a.m.
(Eastern Daylight Time) on December 7, 2018 (or 48 hours, excluding Saturdays,
Sundays and holidays, before the rescheduled Meeting) will be counted. A record
shareholder participating in person, in a vote by ballot at the Meeting, will
automatically revoke any proxy previously given by that shareholder regarding
business considered by that vote. However, attendance at the Annual
Meeting by a registered shareholder who has voted by proxy does not alone revoke
such proxy. </P>
<P align=right>8 </P>
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<P style="MARGIN-LEFT: 15%" align=justify><B><I>How many votes do you need to
hold the Annual Meeting? </I></B></P>
<P align=justify>To conduct the Annual Meeting, we must have a quorum, which
means that one-third of our outstanding voting shares as of the record date must
be present at the Annual Meeting. Based on 101,976,900 shares of common stock
issued and outstanding as of the Record Date, 33,652,377 shares of common stock
must be present, in person or by proxy, for a quorum to be present at the Annual
Meeting. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>What if I abstain from voting?
</I></B></P>
<P align=justify>Abstentions with respect to a proposal are counted for the
purposes of establishing a quorum. If a quorum is present, abstentions will not
be included in vote totals. </P>
<P align=justify>Since our bylaws provide that approval of a proposal at an
Annual Meeting of the stockholders is by the affirmative vote of a majority of
the voting shares present, in person or by proxy, at an Annual Meeting of the
stockholders, a properly executed proxy card marked <I>ABSTAIN </I>with respect
to a proposal will have the same effect as voting <I>AGAINST </I>that proposal.
However, as described below, election of Directors is by a plurality of the
votes cast at the Annual Meeting. A properly executed proxy card marked
<I>WITHHELD </I>with respect to the election of Directors will not be voted and
will not count <I>FOR </I>any of the Nominees for which the vote was withheld.
</P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>What effect does a broker
non-vote have? </I></B></P>
<P align=justify>Brokers and other intermediaries, holding shares of common
stock in street name for their customers, are generally required to vote the
shares of common stock in the manner directed by their customers. If their
customers do not give any direction, brokers may vote the shares of common stock
on routine matters, but not on non-routine matters (a &#147;broker non-vote&#148;).
Proposal No. 1 and Proposal No. 3 are non-routine matter. Accordingly, if you
have <U>not</U> provided your broker with voting directions on these proposals,
your broker will <U>not</U> be able to vote your shares with respect to Proposal
No. 1 (the election of directors) or the approval of Proposals No. 3 (the
Amendment). The ratification of the appointment of UHY McGovern Hurley LLP as
the Company&#146;s independent registered public accounting firm <U>is</U> considered
a routine matter, and brokers will be able to vote your shares if you have not
provided voting directions with respect to Proposal No. 2. </P>
<P align=justify>Any shares of common stock represented at the Annual Meeting
but not voted (whether by abstention, broker non-vote or otherwise) will have no
impact in the election of Directors except to the extent that the failure to
vote for an individual results in another individual receiving a larger
proportion of votes cast. Any shares of common stock represented at the Annual
Meeting but not voted (whether by abstention, broker non-vote or otherwise) with
respect to Proposals No. 1-through 3 (except No. 2) will have the same effect as
a vote against such proposal. <B>In recognition of our desire to have every
stockholder vote count, we encourage our stockholders to instruct their brokers
to vote their shares.</B> </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>How many votes are needed to
elect Directors and approve other proposals? </I></B></P>
<P align=justify><I>Proposal No. 1</I>: The Nominees for election as Directors
at the Annual Meeting will be elected by a plurality of the votes cast at the
Annual Meeting. The Nominees with the most votes will be elected. A properly
executed proxy card marked <I>WITHHELD </I>with respect to the election of
Directors will not be voted and will not count <I>FOR </I>or <I>AGAINST </I>any
of the Nominees. </P>
<P align=justify><I>Proposal No. 2</I>: The ratification of the appointment of
the independent registered public accountant will be approved if a majority of
the voting shares present at the Annual Meeting vote <I>FOR </I>the proposal. A
properly executed proxy card marked <I>ABSTAIN </I>with respect to this proposal
will have the same effect as a vote cast <I>AGAINST </I>this proposal. </P>
<P align=justify><I>Proposal No. 3: </I>The approval of the amendment of the
Company&#146;s Certificate of Incorporation to increase the number of authorized
shares of common stock to 300,000,000 will be approved if a majority of the
voting shares present at the Annual Meeting vote <I>FOR </I>the proposal. A
properly executed proxy card marked <I>ABSTAIN </I>with respect to this proposal
will have the same effect as a vote cast <I>AGAINST </I>this proposal. </P>
<P align=right>9 </P>
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<P style="MARGIN-LEFT: 15%" align=justify><B><I>Will my shares of common stock
be voted if I do not sign and return my Proxy Card? </I></B></P>
<P align=justify>If your shares of common stock are held through a brokerage
account, your brokerage firm, under certain circumstances, may vote your shares
of common stock. See &#147;What effect does a broker non-vote have?&#148; above for a
discussion of the matters on which your brokerage firm may vote your shares of
common stock. </P>
<P align=justify>If your shares of common stock are registered in your name, and
you do not sign and return your proxy card, your shares of co mmon stock will
not be voted at the Annual Meeting, unless you attend the Annual Meeting and
vote your shares of common stock. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>How are votes counted?
</I></B></P>
<P align=justify>Your shares of common stock will be voted or withheld from
voting as you indicate on your proxy card. <B>If you just sign your proxy card
with no further instructions, your shares of common stock will be voted (a) FOR
each nominee for election to the Board for terms expiring at the next annual
meeting of stockholders, (b) FOR Proposal No. 2, and (c) FOR Proposal No. 3.
</B></P>
<P align=justify>Voting results will be tabulated and certified by the Inspector
of Elections. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Where can I find the voting
results of the Annual Meeting? </I></B></P>
<P align=justify>We will publish the final results in a current report filing on
Form 8-K with the United States Securities and Exchange Commission (the &#147;SEC&#148;)
within four (4) business days of the Annual Meeting. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Who will pay for the costs of
soliciting proxies? </I></B></P>
<P align=justify>We will bear the cost of soliciting proxies. In an effort to
have as large a representation at the Annual Meeting as possible, our directors,
officers and employees may solicit proxies by telephone or in person in certain
circumstances. These individuals will receive no additional compensation for
their services other than their regular salaries. Additionally, we may hire a
proxy solicitor to help reach the quorum requirement. We will pay a reasonable
fee in relation to these services. Upon request, we will reimburse brokers,
dealers, banks, voting trustees and their nominees who are holders of record of
our common stock on the record date for the reasonable expenses incurred for
mailing copies of the proxy materials to the beneficial owners of such shares.
</P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>When are stockholder proposals
due for the 2019 Annual Meeting of Stockholders? </I></B></P>
<P align=justify>In order to be considered for inclusion in the 2019 proxy
statement, stockholder proposals must be submitted in writing to our Secretary,
Dean Thrasher, at Security Devices International Inc., 107 Audubon Road,
Building 2, Suite #201, Wakefield, MA 01880 USA, and received no later than
September 27, 2019, provided that this date may be changed in the event that the
date of the annual meeting of stockholders to be held in calendar year 2019 is
changed by more than 30 days from the date of this Annual Meeting.</P>
<P style="MARGIN-LEFT: 10%" align=justify><B><I>Are there any proposals
currently anticipated for the 2019 Annual Meeting of Stockholders? </I></B></P>
<P align=justify>There are no proposals currently anticipated for the 2019
Annual Meeting of Stockholders. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>How can I obtain a copy of the
Annual Report on Form 10-K or our Audited Financial Statements? </I></B></P>
<P align=justify>Our Audited Financial Statements are included in our Annual
Report on Form 10-K and our other periodic and current reports are available on
the Company&#146;s website http://securitydii.com and on the SEC&#146;s website at
http://www.sec.gov. <B>At the written request of any stockholder who owns shares
of common stock as of the Record Date, we will provide to such stockholder,
without charge, a paper copy of our Financial Statements as filed with the SEC,
but not including exhibits</B>. If requested, we will provide copies of the
exhibits for a reasonable fee. Requests for additional paper copies of the
Financial Statements should be mailed to: 107 Audubon Road, Building 2, Suite
#201, Wakefield, MA 01880 USA, Attention: Paul Jensen. </P>
<P align=justify>Additional information relating to the Company is also
available on SEDAR at www.sedar.com. Financial information concerning the
Company is provided in the comparative financial statements for the year ended
November 30, 2017 and Management Discussion &amp; </P>
<P align=justify>Analysis (MD&amp;A) for that financial year. Security holders
may contact the Company to request copies of the Company&#146;s financial statements
and MD&amp;A at the address set out above.</P>
<P align=right>10 </P>
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<P align=justify><B>PROPOSAL 1 &#151; ELECTION OF DIRECTORS </B></P>
<P align=justify><B>General Questions </B></P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>What is the current composition
of the Board?</I></B></P>
<P align=justify>Our current bylaws require the Board to have at least one (1)
and no more than ten (10) Directors. The current Board is composed of five (5)
Directors, of whom five (5) are standing for election at the Annual Meeting.
Paul Jensen, a current Director standing for election, was appointed to the
Board on July 24, 2018. In accordance with the Bylaws of the Company, the Board
of Directors intends to fix the number of Directors to five (5) following the
Annual Meeting. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Is the Board divided into
classes? How long is the term?</I></B></P>
<P align=justify>No, the Board is not divided into classes. All Directors serve
one-year terms until their successors are elected and qualified at the next
annual meeting of our stockholders. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Who is standing for election
this year?</I></B></P>
<P align=justify>The Board has nominated the following five (5) Nominees, for
election at the Annual Meeting, to hold office until the 2019 annual meeting of
stockholders:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>Dean Thrasher
  <LI>Bryan Ganz
  <LI>Paul Jensen
  <LI>Karen Bowling
  <LI>Donald Levantin </LI></UL>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>What if a Nominee is unable or
unwilling to serve?</I></B></P>
<P align=justify>Should any one or more of these Nominees become unable or
unwilling to serve, which is not anticipated, the Board may designate substitute
nominees. In such event, the proxy representatives will vote proxies that
otherwise would be voted for the named Nominees for the election of such
substitute nominee or nominees. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>How are Nominees elected?
</I></B></P>
<P align=justify>Directors are elected by a plurality of the votes present in
person or represented by proxy and entitled to vote at the Annual Meeting. </P>
<P align=justify>The Board recommends a vote FOR each of the Nominees. All
proxies executed and returned without an indication of how shares of common
stock should be voted will be voted FOR the election of all Nominees. </P>
<P align=justify><B>Information On The Board, Executive Officers, And Key
Employees And Director Nominees </B></P>
<P align=justify>The following table and information that follows sets forth, as
of October 1, 2017, the names, and positions of our directors and executive
officers: </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left><B>Name and Municipality</B> <B>of</B> <BR><B>Residence</B>
    </TD>
    <TD align=center width="18%"><B>Current Office with</B> <BR><B>the
      Company</B> </TD>
    <TD align=center width="45%" ><B>Principal Occupation</B>
      <BR><B>Last Ten Years</B> </TD>
    <TD align=center width="18%"><BR><B>Director Since</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Dean Thrasher</B> <BR>Oakville, Ontario, Canada </TD>
    <TD align=left width="18%">Executive Chairman, Director </TD>
    <TD align=left width="45%" >
      <P align=justify>CEO of the Company since June 2016; COO at SDI October
      2010 to June 2016, self-employed (investment banking) from December 2007
      to October 2014; Executive Vice President, Mint Technology Corp. (TSX-V
      pre-paid credit cards) July 2002 to December 2007; President, ecwebworks
      Inc. (e-commerce) from June 1999 to July 2002. </P></TD>
    <TD align=center width="18%">November 2013 </TD></TR></TABLE></DIV>
<P align=right>11 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_13></A><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left><B>Paul Jensen</B> <BR><BR><B>Methuen, MA, USA</B> </TD>
    <TD align=left width="18%">Chief Executive Officer, Director </TD>
    <TD align=left width="45%" >
      <P align=justify>COO of the Company since October 1, 2017; Co- founded
      HALO Maritime Defense Systems; Prior to his employment with HALO, Mr.
      Jensen worked in senior management positions at Nypro Inc. </P></TD>
    <TD align=center width="18%">July 2018 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Rakesh Malhotra</B> <BR>Mississauga, Ontario, Canada </TD>
    <TD align=left width="18%">Chief Financial Officer and Treasurer </TD>
    <TD align=left width="45%" >
      <P align=justify>Chief Financial Officer appointed January 2007, a
      Canadian CA in Ontario and a CPA in Illinois. His occupation is that of a
      consultant to various private and public companies in Canada and the USA
      and serving as CFO with various public companies. </P></TD>
    <TD align=center width="18%">n/a </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Bryan Ganz</B> <BR>Boston, MA, USA </TD>
    <TD align=left width="18%">President, Director </TD>
    <TD align=left width="45%" >
      <P align=justify>Chief Executive Officer of Northeast Industrial Partners
      LLC, from January 2013 through current; CEO of Scudder Bay Capital LLC
      March 2009 through current. CEO of Maine Industrial Tire, January 2010
      through December 2012. Executive Chairman of GPX International Tire &amp;
      Rubber, January 2008 through December 2010. Co-CEO of GPX International
      Tire &amp; Rubber, January 2006 through December 2007. Director of
      Arrhythmia Research Technologies, January 2016 through March 2016.
      Director Boston CASA January 2013 through current. </P></TD>
    <TD align=center width="18%">July 2016 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Donald Levantin</B> <BR>Westport, CT, USA </TD>
    <TD align=left width="18%">Director </TD>
    <TD align=left width="45%" >
      <P align=justify>Chief Executive Officer Amphora Inc. October 2013 through
      current, Product Manager, KRT Sungard Financial Systems, Kiodex 2009-2013,
      Product Manager, ICE Real Time at Intercontinental Exchange 2007-2009,
      Co-Founder Commoditrack Inc. 2006-2007, Head of Global Implementation
      &amp; Product Manager, TradeCapture 1994-1998. </P></TD>
    <TD align=center width="18%">August 2017 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Karen Bowling</B> <BR>Jacksonville Beach,
      <BR>Jacksonville, FL USA </TD>
    <TD align=left width="18%">Director </TD>
    <TD align=left width="45%" >
      <P align=justify>President, Thrive Consulting August 2016 to Present,
      Public Affairs Director at Foley &amp; Lardner LLP, 2015 to 2016, Chief
      Administration Officer for the City of Jacksonville, FL, 2011-2014, and
      Co-Founder and CEO of the Solantic Walk-In Urgent Care Centers, 2001-2011.
      Over a dozen board position 1993 to Present. </P></TD>
    <TD align=center width="18%">October 2016 </TD></TR></TABLE></DIV>
<P align=justify>The following is a description of the business background of
our directors, executive officers and director nominees.</P>
<P align=justify><B>Dean Thrasher</B>, 55, Mr. Thrasher has been Executive
Chairman of the Company since July 2018, prior to this he was CEO of the Company
since August 2016, and director of SDI since November 2013. Mr. Thrasher has
been self-employed in the investment banking sector dating from December 2007 to
October 2014, with varied consulting positions in capital raising, investor
relations, product development, public relations, and mergers &amp; acquisition;
Executive Vice President and director of Mint Technology Corp. (TSX-V listed
company - pre-paid credit cards) July 2002 to December 2007; President, and
Chairman of ecwebworks Inc. (e-commerce) from June 1999 to July 2002, and
President of The Brew Store, a franchising corporation in the beer and wine
sectors throughout North America and internationally from 1989 to 1999. </P>
<P align=justify><B>Paul Jensen, </B>63 Mr. Jensen has been CEO of the Company
since July 2018, prior to this he was President and COO of the Company since
October 2017. Mr. Jensen has an extensive background in plastics contract
manufacturing, the defense sector, technology licensing, and managing
multi-national programs. Mr. Jensen co-founded HALO Maritime Defense Systems, a
technology company specializing in advanced marine automated security systems.
For approximately 20 years Mr. Jensen worked for Nypro Inc., a billion dollar
plastics injection molding contract manufacturer, where he held various senior
management positions. Prior to his work with Nypro Inc., Mr. Jensen held
positions with Kodak and General Electric. A Distinguished Graduate of the
United States Military Academy at West Point (1977), Mr. Jensen received his
M.S. in Chemistry from M.I.T. (1979 &#150; Fannie and John Hertz Fellow) and holds an
M.B.A. with honors from Golden Gate University (1982). Mr. Jensen served a total
of nine years active duty in the United States Army, serving with the 82nd Airborne Division and XVIIIth Airborne
Corps at Ft. Bragg and Staff &amp; Faculty, United States Military Academy at
West Point.<B> </B></P>
<P align=right>12 </P>
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<P align=justify><B>Rakesh Malhotra, </B>61, Mr. Malhotra has been SDI's Chief
Financial Officer since January 7, 2007. Mr. Malhotra is a certified public
accountant in Illinois, and a Canadian CPA, CA in Ontario. Mr. Malhotra
graduated with a Bachelor of Commerce (Honors) from the University of Delhi
(India), and has served as CFO for Pacific Copper Corp. (OTC-BB Mining
Exploration) from April 2007 to October 2013; Infrastructure Materials Corp.
(OTC-BB and TSX-V Mining Exploration) from October 2009 to present; Dynamic Fuel
Systems Inc. (TSX-V Manufacturing) from June 2009 to June 2011 and June 2013 to
July 2014; Uranium Hunter Corp. (OTC-BB Mining Exploration) from March 2007 to
March 2010; Yukon Gold Corporation Inc. (OTC-Pink Sheets Mining Exploration)
from November 2005 to August 2010 and November 2011 to present (filing on
SEDAR). </P>
<P align=justify><B>Bryan Ganz,</B> 60, Mr. Ganz has been President of the
Company since July 2018, prior to this he was Executive Chairman of the Company
since August 2017. Mr. Ganz has been a director of the Company since July 2016.
Mr. Ganz has been the chief executive officer of Northeast Industrial Partners
LLC since 2013, the Chief Executive Officer of Scudder Bay Capital LLC since
March 2009 and a director of Boston CASA since January 2013. Mr. Ganz served as
Chairman of the Board and Chief Executive Officer of Main Industrial Tire from
January 2010 through December 2012. Mr. Ganz served as the Executive Chairman of
GPX International Tire &amp; Rubber, January 2008 through December 2010 and the
Co-CEO of GPX International Tire &amp; Rubber, January 2006 through December
2007. Mr. Ganz was a Director of Arrhythmia Research Technologies, January 2016
through March 2016. </P>
<P align=justify><B>Karen Bowling, </B>63, 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. Karen&#146;s recent
positions include; Public Affairs Director at Foley &amp; Lardner LLP, CEO at
WiseEye AI, (an artificial intelligence company focussed on the healthcare
sector for CT scan identification and classification), 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><B>Donald Levantin, </B>54<B>, </B>Mr. Levantin is a senior
executive with a proven record of positioning companies for growth,
profitability and acquisition. He is currently SVP Energy and Commodity Markets
with EKA Analytics Inc. EKA is leader and innovator in the field of cloud-based
commodity risk and supply chain management. With over 30 years&#146; experience, he
is an accomplished strategist in conceptualizing, building and operating
corporations on a global level in the commodity sector. Prior to leading
Amphora, he was a co-founder of Commoditrack, a real-time mark-to-market and
risk management platform for commodities, which was acquired by the
Intercontinental Exchange (ICE) and later by Sungard Financial Systems. Prior to
building and leading companies in the software sector, Mr. Levantin was a
commodity trader with Philipp Brothers Commodity Corp. and Phibro Energy. He
holds a BS in business and economics from Lehigh University.</P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Relationships between Directors
and Officers </I></B></P>
<P align=justify>There are no family relationships between any officer or
director of SDI. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Arrangements between Directors
and Officers </I></B></P>
<P align=justify>To our knowledge, there is no arrangement or understanding
between any of our officers and any other person pursuant to which the officer
was selected to serve as an officer. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Legal Proceedings, Cease Trade
Orders and Bankruptcy</I></B></P>
<P align=justify>Except as noted below, to our knowledge, none of our directors,
executive officers or any of our stockholders holding more than 5% of any class
of our voting securities, or any associate of any such director, officer or
stockholder is a party adverse to us or any of our subsidiaries or has an
interest adverse to us or any of our subsidiaries. Except as listed below, none
of our directors or executive officers is, as of the date of this Proxy
Statement, or was within 10 years before the date of this Proxy Statement, a
director, chief executive officer or chief financial officer of any company
(including the Company), that: </P>
<P align=right>13 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>was subject to a cease trade order, an order similar to a
      cease trade order or an order that denied the relevant company access to
      any exemption under securities legislation, for a period of more than 30
      consecutive days, that was issued while the director or executive officer
      was acting in the capacity as director, chief executive officer or chief
      financial officer; or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>was subject to a cease trade order, an order similar to a
      cease trade order or an order that denied the relevant company access to
      any exemption under securities legislation, for a period of more than 30
      consecutive days, that was issued after the director or executive officer
      ceased to be a director, chief executive officer or chief financial
      officer and which resulted from an event that occurred while that person
      was acting in the capacity as director, chief executive officer or chief
      financial officer.</P></TD></TR></TABLE>
<P align=justify>Rakesh Malhotra, SDI&#146;s CFO, served as the CFO for Pacific
Copper Corp., a US reporting issuer from April 2007 to October 2013. On October
28, 2008, Pacific Copper Corp. received a cease trade order (the &#147;CTO&#148;) from the
British Columbian Securities Commission (the &#147;BCSC&#148;). By its terms, the CTO was
issued for not filing a technical report under &#145;Canadian National Instrument
43-101 Standards of Disclosure for mineral projects (&#147;NI 43-101&#148;) with respect
to its material copper oxide projects in Chile in support of mineral reserve and
mineral reserve estimates and results of a preliminary assessment, after having
made public disclosures regarding such properties. On May 8, 2009, the BCSC
revoked its CTO against the Company. In order to comply with legislation,
Pacific Copper Corp. filed technical reports under Canadian National Instrument
43-101 with respect to each of the mineral projects.</P>
<P align=justify>On March 8, 2012, Pacific Copper Corp. received an additional
CTO from the BCSC, the effect of which is limited to the Province of British
Columbia. The CTO was issued for failure to file comparative annual financial
statements for its financial year ended October 31, 2011 as required under Part
4 of National Instrument 51-102 Continuous Disclosure Obligations ("NI 51-102")
and section 5(b) of British Columbia Instrument 51-509 Issuers Quoted in the
U.S. Over-the-Counter Markets ("BCI 51-509"); a Form 51-102F1 Management's
Discussion and Analysis for the period ended October 31, 2011 as required under
Part 5 of NI 51-102 and section 5(b) of BCI 51-109; and a Form 51-102F2 Annual
Information Form for the year ended October 31, 2011 as required under section
5(c) of BCI 51-509. Pacific Copper Corp. filed its annual financial statements
for its financial year ended October 31, 2011, Form 51-102F1 Management's
Discussion and Analysis for period ended October 31, 2011, and Form 51-F2 Annual
Information Form for the year ended October 31, 2011. As a result, on March 15,
2012, the BCSC revoked the CTO issued on March 8, 2012.</P>
<P align=justify>To the best of Management&#146;s knowledge, except as listed below,
none of our directors or executive officers, and none of our stockholders
holding a sufficient number of our securities to affect materially the control
of the Company: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>is, as at the date of this Proxy Statement, or has been
      within the 10 years before the date of this annual report, a director or
      executive officer of any company (including the Company) that, while that
      person was acting in that capacity, or within a year of that person
      ceasing to act in that capacity, became bankrupt, made a proposal under
      any legislation relating to bankruptcy or insolvency or was subject to or
      instituted any proceedings, arrangement or compromise with creditors or
      had a receiver, receiver manager or trustee appointed to hold its assets;
      or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>has, within 10 years before the date of this Proxy
      Statement, become bankrupt, made a proposal under any legislation relating
      to bankruptcy or insolvency, or become subject to or instituted any
      proceedings, arrangement or compromise with creditors, or had a receiver,
      receiver manager or trustee appointed to hold the assets of the director,
      executive officer or stockholder; or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>has, within 10 years before the date of this Proxy
      Statement, been the subject of, or a party to, any U.S. federal or state
      judicial or administrative order, judgment, decree, or finding, not
      subsequently reversed, suspended or vacated, relating to an alleged
      violation of: (i) any U.S. federal or state securities or commodities law
      or regulation; or (ii) any law or regulation respecting financial
      institutions or insurance companies including, but not limited to, a
      temporary or permanent injunction, order of disgorgement or restitution,
      civil money penalty or temporary or permanent cease-and-desist order, or
      removal or prohibition order; or (iii) any law or regulation prohibiting
      mail or wire fraud or fraud in connection with any business entity;
    or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>has, within 10 years before the date of this Proxy
      Statement, been the subject of, or a party to, any sanction or order, not
      subsequently reversed, suspended or vacated, of any self-regulatory
      organization (as defined in Section 3(a)(26) of the United States Exchange
      Act of 1934, as amended (15 U.S.C.78c(a)(26))), any registered entity (as
      defined in Section 1(a)(29) of the Commodity Exchange Act (7
      U.S.C.1(a)(29))), or any equivalent exchange, association, entity or
      organization that has disciplinary authority over its members or persons
      associated with a member.</P></TD></TR></TABLE>
<P align=justify>Bryan Ganz, President and a director of the Company served as
the chief executive officer of GPX International Tire &amp;Wheel, Co. (&#147;GPX&#148;) In
2007 Titan Tire &amp; Wheel and Bridgestone Tire filed an anti-dumping and
countervailing duty suit against GPX. The suit alleged that GPX was dumping products produced in a Chinese
factory and receiving subsidies from the Chinese government. The Court of
International Trade decided for the plaintiffs and imposed a 44% duty on all GPX
products coming into the United States. Although GPX was ultimately successful
in the Federal District Court and Federal Appeals Court in overturning the
decision of the Court, International Trade (CIT) (in a unanimous decision in
December of 2011), it was too late as the company had been forced to file for
bankruptcy protection when its lender group called the loan at the time the CIT
decision was originally rendered in mid-2009. </P>
<P align=right>14 </P>
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<P align=justify>To the best of Management&#146;s knowledge, none of our directors,
executive officers nor any stockholder holding 5% or more of any of our
securities has been subject to: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>any penalties or sanctions imposed by a court relating to
      securities legislation or by a securities regulatory authority or has
      entered into a settlement agreement with a securities regulatory
      authority; or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>any other penalties or sanctions imposed by a court or
      regulatory body that would likely be considered important to a reasonable
      investor in making an investment decision.</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Indebtedness of Directors and
Executive Officers </I></B></P>
<P align=justify>Other than &#147;routine indebtedness&#148; as defined in National
Instrument 51-102 of the Canadian Securities Administrators, since the beginning
of our last fiscal year, none of our executive officers or Directors or any
proposed nominee for election as a Director or any of their respective
associates is or has been indebted to us or has been indebted to any other
entity where that indebtedness was the subject of a guarantee, support
agreement, letter of credit or other similar arrangement or understanding
provided by us. </P>
<P align=justify><B>CORPORATE GOVERNANCE </B></P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>The Board Structure </I></B></P>
<P style="MARGIN-LEFT: 15%" align=justify><U>General Structure</U> </P>
<P align=justify>Our current bylaws require the Board to have at least one (1)
and no more than ten (10) Directors. The current Board is composed of five (5)
directors. </P>
<P style="MARGIN-LEFT: 15%" align=justify><U>Director Independence</U> </P>
<P align=justify>We have five (5) directors, including two independent
directors, as follows:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>Dean Thrasher
  <LI>Bryan Ganz
  <LI>Paul Jensen
  <LI>Karen Bowling (Independent)
  <LI>Donald Levantin (Independent) </LI></UL>
<P align=justify>Following the Annual and Special Meeting of Shareholders, if
five directors are elected the Board intends to fix the size of the Board at
five members. </P>
<P align=justify>An &#147;independent&#148; director is a director whom the Board has
determined satisfies the requirements for independence under the Sarbanes-Oxley
Act of 2002, section 10A(m)(3) and under section 803A of the NYSE MKT LLC
Company Guide (note-our common shares are not currently listed on the NYSE-MKT
or any other national securities exchange and this reference is used for
definitional purposes only). </P>
<P align=right>15 </P>
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<P style="MARGIN-LEFT: 15%" align=justify><U>Board Leadership Structure</U> </P>
<P align=justify>The Company&#146;s Board of Directors is responsible for overseeing
the business and affairs of the Company. Members of the Board are kept informed
of our business through discussions with the CEO and other officers, by
reviewing materials provided to them and by participating in meetings of the
Board and its committees. </P>
<P align=justify>The Board is currently comprised of Dean Thrasher, who serves
as our Executive Chairman, and four other members. We have two independent
directors and three directors who are not independent. The Board believes that
there is no single best organizational model that is the most effective in all
circumstances and that the shareholders&#146; interests are best served by allowing
the Board to retain the flexibility to determine the optimal organizational
structure for the Company at a given time. </P>
<P style="MARGIN-LEFT: 15%" align=justify><U>Meetings Of The Board And Board
Member Attendance At Annual Meetings</U> </P>
<P align=justify>During the fiscal year ended November 30, 2017, the Board held
8 meetings. All directors attended at least 75% of the meetings of the Board of
Directors and the committees on which such director serves). </P>
<P align=justify>Board members are not required to attend the Annual Meeting. At
the 2017 Annual Meeting 100% of Directors attended. </P>
<P style="MARGIN-LEFT: 15%" align=justify><U>Communications To The Board</U>
</P>
<P align=justify>Stockholders who are interested in communicating directly with
members of the Board, or the Board as a group, may do so by writing directly to
the individual Board member c/o Secretary, Dean Thrasher, Security Devices
International Inc., 107 Audubon Road, Building 2, Suite #201, Wakefield, MA
01880 USA. Our Secretary will forward communications directly to the appropriate
Board member. If the correspondence is not addressed to the particular member,
the communication will be forwarded to a Board member to bring to the attention
of the Board. Our Secretary will review all communications before forwarding
them to the appropriate Board member. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Board Committees </I></B></P>
<P align=justify>Our Board has established four board committees: the Audit
Committee, the Compensation Committee, the Disclosure Committee, and the
Nominating Governance Committee.</P>
<P align=justify>The information below sets out the current members of our
Committees and summarizes the functions of each committee. </P>
<P style="MARGIN-LEFT: 15%" align=justify><U>Audit Committee and Audit Committee
Financial Experts</U> </P>
<P align=justify>Our Audit Committee is comprised of Bryan Ganz, Karen Bowling
and Donald Levantin. Mr. Levantin and Ms. Bowling are independent directors, and
Bryan Ganz is not an independent, under Section 10A-3 of the Exchange Act, the
audit committee rules of the NYSE MKT LLC and National Instrument 52-110 of the
Canadian Securities Administrators.</P>
<P align=justify>Bryan Ganz is the Chairman of the Audit Committee. Mr. Ganz
satisfies the criteria for an audit committee financial expert under Item
407(d)(5) of Regulation S-K of the rules of the Securities and Exchange
Commission. Bryan Ganz, Karen Bowling, and Donald Levantin are financially
literate for the purposes of National Instrument 52-110 of the Canadian
Securities Administrators. They acquired their financial literacy in the course
of their business experience (detailed under &#147;Information On The Board,
Executive Officers, And Key </P>
<P align=justify>Employees And Director Nominees&#148; above) and not as a result of
any education relevant to the performance of his responsibilities as an audit
committee member. </P>
<P align=justify>The Audit Committee will meet with management and our external
auditors if necessary, to review matters affecting financial reporting, the
system of internal accounting and financial controls and procedures and the
audit procedures and audit plans. The Audit Committee reviews our significant
financial risks, will be involved in the appointment of senior financial
executives and will annually review our insurance coverage and any off-balance
sheet transactions. </P>
<P align=justify>The Audit Committee is mandated to monitor our audit and the
preparation of financial statements and to review and recommend to the Board all
financial disclosure contained in our public documents. The Audit Committee is
also mandated to appoint external auditors, monitor their qualifications and
independence and determine the appropriate level of their remuneration. The
external auditors report directly to management, the Audit Committee and to the
Board. The Audit Committee and the Board each have the authority to terminate
the external auditor&#146;s engagement (subject to confirmation by
stockholders). The Audit Committee will also approve in advance any services to
be provided by the external auditors, which are not related to the audit. </P>
<P align=right>16 </P>
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<P align=justify>During the fiscal year ended November 30, 2017, the Audit
Committee met four times. The Audit Committee expects to meet as needed during
the upcoming fiscal year. </P>
<P style="MARGIN-LEFT: 15%" align=justify><U>Audit Committee Report</U></P>
<P align=justify>Our Audit Committee oversees our financial reporting process on
behalf of the Board. The Committee has three members, one of which is
&#147;independent&#148; as determined under Rule 10A-3 of the Exchange Act, and the rules
of the NYSE MKT LLC. The Committee operates under a written charter adopted by
the Board. Attached as Exhibit A is a copy of that charter. </P>
<P align=justify>The Committee assists the Board by overseeing (1) the integrity
of our financial reporting and internal control, (2) independence and
performance of our independent auditors, and (3) provides an avenue of
communication between management, the independent auditors, and the Board. </P>
<P align=justify>In the course of providing its oversight responsibilities
regarding the 2017 financial statements, the Audit Committee reviewed the 2017
audited financial statements with management and our independent auditors. The
Audit Committee reviewed accounting principles, practices, and judgments as well
as the adequacy and clarity of the notes to the financial statements. </P>
<P align=justify>The Audit Committee may meet with the independent auditors to
discuss their audit plans, scope and timing on a regular basis, with or without
management present. The Committee has received the written disclosures and the
letter from the independent auditors required by the Public Company Accounting
Oversight Board for independent auditor communications with Audit Committees
concerning independence. </P>
<P align=justify>The Audit Committee and the Board have recommended the
selection of UHY McGovern Hurley LLP as our independent auditors for the fiscal
year ending November 30, 2018.</P>
<P style="MARGIN-LEFT: 15%" align=justify><U>Compensation Committee</U></P>
<P align=justify>Our Compensation Committee is comprised of Donald Levantin,
Bryan Ganz and Karen Bowling. The committee oversees remuneration of management
and the board of directors on behalf of the Board. The Committee has three
members, two of which are &#147;independent&#148; as determined under Rule 10A-3 of the
Exchange Act, and the rules of the NYSE MKT LLC (note-our common shares are not
currently listed on the NYSE-MKT or any other national securities exchange and
this reference is used for definitional purposes only). </P>
<P align=justify>The Committee operates under a written charter adopted by the
Board. </P>
<P align=justify>The Committee&#146;s responsibilities include reviewing succession
and leadership plans and making appropriate recommendations to the Board at
least annually regarding the appointment, succession and remuneration of the
Company&#146;s senior officers (including the</P>
<P align=justify>President and Chief Executive Officer). The Committee reviews
as necessary any recommendations of officer appointments or terminations. The
Committee also reviews at least annually the assessment of the performance of
the Company&#146;s senior officers. </P>
<P align=justify>During the fiscal year ended November 30, 2017, the
Compensation Committee met two (2) times. The Compensation Committee expects to
meet as needed during the upcoming fiscal year. Compensation for executives and
board of directors is implemented by taking industry averages for such
positions.</P>
<P style="MARGIN-LEFT: 15%" align=justify><U>Governance and Nominating
Committee</U> </P>
<P align=justify>Our Governance and Nominating Committee is comprised of Dean
Thrasher, Donald Levantin and Karen Bowling. The Committee has 3 members, 2 of
which are &#147;independent&#148; as determined under Rule 10A-3 of the Exchange Act and
the rules of the NYSE MKT LLC. The Committee operates under a written charter
adopted by the Board (note-our common shares are not currently listed on the
NYSE-MKT or any other national securities exchange and this reference is used
for definitional purposes only). </P>
<P align=justify>The committee oversees corporate governance matters and is
responsible for (1) identifying individuals qualified to become Directors and
recommending to the Board new nominees for election by shareholders or for
appointment by the Board; (2) providing recommendations to the Board regarding the competencies and
skills the Board, as a whole should possess, and the qualifications of its
Directors; (3) recommending for Board approval, if appropriate, revisions to our
corporate governance practices and procedures; (4) reviewing the composition and
mandate of the Board and each committee of the Board. </P>
<P align=right>17 </P>
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<P align=justify>During the fiscal year ended November 30, 2017, the Nominating
Governance Committee one (1) time. The Nominating Governance Committee expects
to meet as needed during the upcoming fiscal year. </P>
<P style="MARGIN-LEFT: 15%" align=justify><U>Disclosure Committee</U> </P>
<P align=justify>Our Disclosure Committee is comprised of Dean Thrasher, Donald
Levantin and Karen Bowling. The Committee has 3 members, 2 of which are
&#147;independent&#148; as determined under Rule 10A-3 of the Exchange Act and the rules
of the NYSE MKT LLC. The Committee operates under a written charter adopted by
the Board (note-our common shares are not currently listed on the NYSE-MKT or
any other national securities exchange and this reference is used for
definitional purposes only). </P>
<P align=justify>The Disclosure Committee is responsible for ensuring timely and
proper disclosure of all material events, for reviewing all disclosures made,
and for ensuring adherence to the Company&#146;s Confidentiality &amp; Securities
Trading Policy. </P>
<P align=justify>During the fiscal year ended November 30, 2017, the Disclosure
Committee did not meet. The Disclosure Committee expects to meet as needed
during the upcoming fiscal year. </P>
<P style="MARGIN-LEFT: 15%" align=justify><U>Director Compensation
Agreements</U> </P>
<P align=justify>Except as described under &#147;Executive Compensation Agreements&#148;
below, there are no service contracts with any of our directors and there is no
arrangement or agreement made or proposed to be made between us and any of our
directors pursuant to which a payment or other benefit is to be made or given by
way of compensation in the event of that officer&#146;s resignation, retirement or
other termination of employment, or in the event of a change of control of us or
a change in the director&#146;s responsibilities following such change in control.
</P>
<P style="MARGIN-LEFT: 15%" align=justify><U>Compensation of Directors</U> </P>
<P align=justify>The Compensation Committee will make recommendations of any
compensation to be paid to the board of directors for the fiscal year 2018. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Other Governance
Matters</I></B></P>
<P style="MARGIN-LEFT: 15%" align=justify><U>The Role of the Board in Risk
Oversight</U></P>
<P align=justify>The understanding, identification and management of risk are
essential elements for the successful management of the Company.</P>
<P align=justify>Risk oversight begins with the Board and the Audit Committee.
The Audit Committee is chaired by Bryan Ganz, and one of three directors is
independent that sit on the Audit Committee.</P>
<P align=justify>The Audit Committee reviews and discusses policies with respect
to risk assessment and risk management. The Audit Committee also has oversight
responsibility with respect to the integrity of our financial reporting process
regarding finance and accounting, as well as our financial statements.</P>
<P align=justify>At the management level, an internal audit provides reliable
and timely information to the Board and management regarding our effectiveness
in identifying and appropriately controlling risks.</P>
<P align=justify>We also have a comprehensive internal risk framework, which
facilitates performance of risk oversight by the Board and the Audit Committee.
Our risk management framework is designed to: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&#149; </TD>
    <TD align=left width="95%" >Provide that risks are
      identified, monitored, reported, and priced properly; </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&#149; </TD>
    <TD align=left width="95%" >Define and communicate the types
      and amount of risk the Company is willing to take; and
</TD></TR></TABLE>
<P align=right>18 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_20></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&#149; </TD>
    <TD align=left width="95%">Promote a strong risk management culture that
      encourages a focus on risk-adjusted performance. </TD></TR></TABLE>
<P style="MARGIN-LEFT: 15%" align=justify><U>Code of Ethics</U> </P>
<P align=justify>The Board has adopted a written code of business conduct and
ethics (the &#147;Code of Ethics&#148;) for our Directors, officers and employees that
sets out the Board&#146;s expectations for the conduct of such persons in their
dealings on behalf of the Company. Employees, officers and Directors are
required to maintain an understanding of, and ensure that they comply with, the
Code of Ethics. </P>
<P align=justify>Employees, officers and Directors are required to report
violations of the Code of Ethics to the Chief Executive Officer or the Chair of
the Board. The Board is not aware of any breach of the Code of Ethics by any
Director or officer during the period since its adoption on January 14, 2015.
</P>
<P align=justify><B>EXECUTIVE COMPENSATION </B></P>
<P align=justify>The following table sets forth the annual and long-term
compensation awarded to or paid to the (i) the person serving as CEO of the
Company during 2017, (ii) the person serving as CFO of the Company during 2017,
and (iii) the other three most highly paid executive officers of the Company who
were serving as executive officers at November 30, 2017 (together, the &#147;Named
Executive Officers&#148;) for the fiscal years ended November 30, 2017 and 2016. </P>
<P align=justify>During the fiscal years ended November 30, 2017 and 2016, the
Board made grants of cash and grants of options to certain directors and
executives, the value of such grants of options and cash are indicated in the
compensation table below. </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=center>Name and <BR>Principal Position </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=center width="10%">Year </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=center width="10%">Salary <BR>$ </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=center width="10%">Bonus <BR>$ </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=center width="10%">Stock <BR>Awards <BR>$ </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=center width="10%">Options <BR>Option Awards <BR>$ </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=center width="10%">Non-Equity Incentive Plan
      Non-Equity Incentive Compensation <BR>$ </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=center width="10%">Non-Qualified Deferred Nonqualified
      Deferred Compensation Earnings $ </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=center width="10%">All Other Compensation $ </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=center width="10%">Total </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=left>Dean Thrasher, </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=center width="10%">2017 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">156,000 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">-&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">&nbsp;61,358 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">-&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">217,358<SUP>(1)</SUP> </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left>CEO &amp; Director </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=center width="10%">2016 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">186,814 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">186,814<SUP>(1)</SUP> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=left>Bryan Ganz, </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=center width="10%">2017 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">-&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;- </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">229,167 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">229,167<SUP>(2)</SUP> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=left>Executive </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=center width="10%">2016 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">145,833 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">145,833<SUP>(2)</SUP> </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left>Chairman </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=left>Rakesh Malhotra, </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=center width="10%">2017 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">-&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">37,000 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    align=right width="10%">37,000<SUP>(3)</SUP> </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left>CFO </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=center width="10%">2016 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">-&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">&nbsp; </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">- </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">32,064 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="10%">32,064<SUP>(3)</SUP> </TD></TR></TABLE></DIV>
<P style="MARGIN-LEFT: 5%" align=justify>1. Mr. Thrasher was initially
contracted through Level 4 Capital Corp. for services rendered to the Company.
Level 4 Capital Corp., a company in which Mr. Thrasher owns a 50% interest, was
issued 400,000 options in 2014. In 2015, the Company extended the expiry date of
800,000 warrants issued to Level 4 Capital Corp. in 2012 from original expiry
date of January 4, 2016 to September 23, 2019. Subsequently the Company executed
a consulting agreement which term extended to June 30, 2018. During the year
2017, the CEO was paid an annual salary of $156,000 (CAD $200,000). During the
year 2017, the compensation was paid partly by payroll and partly to a
corporation in which Mr. Thrasher has an ownership interest. </P>
<P style="MARGIN-LEFT: 5%" align=justify>2. Effective July 21, 2016, Bryan Ganz
was elected as a director of the Company. Prior to his appointment, effective
May 1, 2016, the Company executed a one-year consulting agreement with Northeast
Industrial Partners LLP (&#147;NEIP&#148;), a corporation in which the said director has
an ownership interest. The annual compensation was $250,000 payable $50,000 in
cash and balance $200,000 by issuance of common shares. Effective May 1, 2017
the Company and NEIP renewed the agreement for a quarterly compensation of
$62,500 to be settled by issuance of common shares. The agreement was terminated
October 31, 2017. </P>
<P align=right>19 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_21></A>
<P style="MARGIN-LEFT: 5%" align=justify>3. Mr. Malhotra is the CFO of the
Company and works on an hourly basis. The compensation is paid to a corporation
in which he has an ownership interest. </P>
<P style="MARGIN-LEFT: 10%" align=justify><B><I>Executive Compensation
Agreements</I></B></P>
<P align=justify>As further described below, we are a party to a consulting
agreement which provides for the services of Dean Thrasher for 7 remaining
months, with renewal features at the expiry dates. The renewals are not
automatic. Pursuant to the agreement, compensation is payable for termination of
his agreement in certain circumstances, including termination without cause and
change of control. The agreement provides for the payment of compensation that
will be triggered by a termination of the agreement by either us or the
executive officer following a change of control of us, or by us at any time,
other than for &#147;cause.&#148; </P>
<P align=justify>The Company executed a consulting agreement with a corporation
owned by Mr. Thrasher and later designated executive chairman, effective July 1,
2018 providing services as executive chairman of the Company. The contract,
unless renewed expires on March 31, 2019. During the service term, the Company
will pay $3,500 per month and in addition, be issued 180,000 common shares of
the Company on a quarterly basis until the end of the term. Each quarterly
installment is due the 15<SUP>th</SUP> day of the following month after the
quarter. The common shares will be priced at the volume weighted average trading
price per common share over the 20-day period preceding the due date. </P>
<P align=justify>Effective as of October 1, 2017, the Company entered into an
employment agreement (the &#147;Employment Agreement&#148;) with Paul Jensen pursuant to
which Mr. Jensen serves as President and Chief Operating Officer of the Company.
By the terms of the Employment Agreement, Mr. Jensen will receive an annual
salary of $200,000, payable as follows. For the period beginning on October 1,
2017 and ending on June 30, 2018, Mr. Jensen shall receive quarterly payments of
the Company&#146;s common stock, to be issued 15 days after the end of each
three-month quarter. The shares issued shall be valued based upon the weighted
average closing price of the Company&#146;s shares for the twenty (20) trading days
prior to the end of the applicable quarter. Commencing July 1, 2018, the Company
will pay $10,000 per month in cash and the balance in Company stock. At such
time as the Company can pay the entire salary in cash and be cash positive on an
operating basis, the entire monthly salary will be paid in cash. </P>
<P align=justify>Effective December 1, 2017, the Company signed a twelve-month
contract with a corporation owned and controlled by Mr. Malhotra to pay annual
compensation of $42,000 for CFO services. The Company paid a retainer of $10,500
and is committed to pay $2,625 on monthly basis. Early termination of the
contract by the Company without cause or change in control will attract a
termination payment of $20,000. </P>
<P align=justify>On April 13, 2018, the Company entered into a Purchase and Sale
Agreement (the &#147;Agreement&#148;) with Andr&#233; Buys (the Company&#146;s CTO), a resident of South Africa, pursuant to which the Company
purchased from Mr. Buys a portfolio of registered patents, provisional patents,
and other intellectual property relating to air and/or gas fired long guns or
pistols, including pump action launchers and munitions used with such pistols
and long guns, including self-stabilizing shaped or &#147;finned&#148; rounds (the
&#147;Portfolio&#148;). As consideration for the Portfolio, the Company (i) paid Mr. Buys $100,000, (ii) agreed
to pay Mr. Buys either $500,000 in cash or $750,000 worth of Company stock
within two years (the &#147;Second Payment&#148;), (iii) issued 1,500,000 options for
shares of the Company&#146;s common stock to Mr. Buys with a strike price equal to
the Company&#146;s stock price on April 13, 2018 and a trigger price of $0.30, $0.50
and $1.00 for each batch of 500,000 options, respectively. The Company&#146;s stock
price must close above the trigger price for 20 days in order for the option to
be triggered. The options shall have a seven- year life from grant date and
Andre Buys must remain employed by the Company for three years in order for the
options to vest, and (iv) agreed to pay Mr. Buys certain royalty payments for
sales of products by the Company using technology covered by the Portfolio.
Until the earlier of, the second anniversary or the date the Second Payment is
made, the royalty will be 10% of the Net Sales Price (&#147;NSP&#148;). The royalty will
then be reduced to 4% till the sixth anniversary, 3% till the eighth
anniversary, and 2% till the last expiration date of any of the intellectual
property in the Portfolio. Until the royalty exceeds $25,000 per year, the
Company is committed to a minimum payment of $25,000 per year effective on the
earlier of one year from closing or upon Andre Buys relocation to Boston. In the
event that the Company fails to make the Second Payment, the Portfolio would
revert to Mr. Buys, but the Company would retain perpetual, irrevocable,
exclusive and non-exclusive licenses to use technology with respect to the
Portfolio and any technology developed within two years of April 13, 2018. The
Company has not recorded any amount related to the Second Payment. In addition,
the Company has hired Mr. Buys as its Chief Technology Officer at a starting
salary of $10,000 per month. The Company agrees that it will not terminate Andre
Buys except for cause prior to April 2021. As a result, the minimal commitment
relating to the employment contract is $320,000 payable over a period of 32
months. </P>
<P align=right>20 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_22></A>
<P align=justify>Effective June 1, 2018 the Company entered into a consulting
agreement (the &#147;Consulting Agreement&#148;) with Bryan Ganz pursuant to which Mr.
Ganz serves as President of the Company. By the terms of the Consulting
Agreement, Mr. Ganz will be paid annually $200,000 in the Company&#146;s common
shares for his services and subject to stock exchange approval. The common
shares shall be issued quarterly, ending March 31, 2019. For the Company&#146;s
fiscal third and fourth quarter the President shall be paid 500,000 common
shares for each quarter. Commencing on the Company&#146;s first quarter of 2019, Mr.
Ganz will be issued an ongoing 250,000 common shares for his services. </P>
<P align=justify>Except as described above, there are no service contracts of
any of Named Executive Officers and there is no arrangement or agreement made or
proposed to be made between us and any of our Named Executive Officers pursuant
to which a payment or other benefit is to be made or given by way of
compensation in the event of that officer&#146;s resignation, retirement or other
termination of employment, or in the event of a change of control of us or a
change in the Named Executive Officer&#146;s responsibilities following such change
in control.</P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Outstanding Equity Awards at
Fiscal Year-End </I></B></P>
<P align=justify>The following table sets forth the stock options and stock
appreciation rights outstanding to our Named Executive Officers and directors,
which are outstanding as of November 30, 2017.</P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD colspan="6" align=center> <B>Option/Warrant Awards</B>   </TD>
    <TD colspan="4" align=center> <B>Stock Awards</B>  </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left><B>Name</B>
      <BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR></TD>
    <TD align=center width="10%"><B>Number of</B> <BR><B>securities</B>
      <BR><B>underlying</B> <BR><B>unexercised</B> <BR><B>options/</B>
      <BR><B>warrants</B> <BR><B>(#)</B> <BR><B>exercisable</B>
      <BR><BR><BR><BR><BR><BR><BR><BR></TD>
    <TD align=center width="10%"><B>Number of</B> <BR><B>securities</B>
      <BR><B>underlying</B> <BR><B>unexercised</B> <BR><B>options/</B>
      <BR><B>warrants</B> <BR><B>(#)</B> <BR><B>unexercisable</B>
      <BR><BR><BR><BR><BR><BR><BR><BR></TD>
    <TD align=center width="10%"><B>Equity</B> <BR><B>incentive</B>
      <BR><B>plan</B> <BR><B>awards:</B> <BR><B>Number of</B>
      <BR><B>securities</B> <BR><B>underlying</B> <BR><B>unexercised</B>
      <BR><B>unearned</B> <BR><B>options</B> <BR><B>(#)</B>
    <BR><BR><BR><BR><BR></TD>
    <TD align=center width="10%"><B>Option/</B> <BR><B>Warrant</B>
      <BR><B>exercise</B> <BR><B>price</B> <BR><B>($)</B>
      <BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR></TD>
    <TD align=center width="10%"><B>Option/ Warrant</B> <BR><B>expiration</B>
      <BR><B>date</B> <BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR></TD>
    <TD align=center width="10%"><B>Number</B> <BR><B>of shares</B> <BR><B>or
      units</B> <BR><B>of stock</B> <BR><B>that</B> <BR><B>have</B>
      <BR><B>not</B> <BR><B>vested</B> <BR><B>(#)</B>
      <BR><BR><BR><BR><BR><BR><BR></TD>
    <TD align=center width="10%"><B>Market</B> <BR><B>value</B> <BR><B>of</B>
      <BR><B>shares</B> <BR><B>or</B> <BR><B>units of</B> <BR><B>stock</B>
      <BR><B>that</B> <BR><B>have</B> <BR><B>not</B> <BR><B>vested</B>
      <BR><B>($)</B> <BR><BR><BR><BR></TD>
    <TD align=center width="10%"><B>Equity</B> <BR><B>incentive</B>
      <BR><B>plan</B> <BR><B>awards:</B> <BR><B>Number of</B>
      <BR><B>unearned</B> <BR><B>shares,</B> <BR><B>units or</B>
      <BR><B>other</B> <BR><B>rights</B> <BR><B>that have</B> <BR><B>not
      vested</B> <BR><B>(#)</B> <BR><BR><BR></TD>
    <TD align=center width="10%"><B>Equity</B> <BR><B>incentive</B>
      <BR><B>plan</B> <BR><B>awards:</B> <BR><B>Market</B> <BR><B>or payout</B>
      <BR><B>value</B> <BR><B>of</B> <BR><B>unearned</B> <BR><B>shares,</B>
      <BR><B>units or</B> <BR><B>others</B> <BR><B>rights that</B> <BR><B>have
      not</B> <BR><B>vested</B> <BR><B>($)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>Rakesh <BR>Malhotra, <BR>CFO and <BR>Treasurer </TD>
    <TD align=center width="10%">245,000<SUP>(1)</SUP> <BR><BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR><BR></TD>
    <TD align=center width="10%">0.13 - 0.30 <BR><BR><BR></TD>
    <TD align=center width="10%">Sept. 2019-Oct <BR>2020 <BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR><BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>Dean Thrasher, <BR>CEO </TD>
    <TD align=center width="10%">1,166,667<SUP>(2)</SUP> <BR></TD>
    <TD align=center width="10%">- <BR></TD>
    <TD align=center width="10%">- <BR></TD>
    <TD align=center width="10%">0.10-0.13 <BR></TD>
    <TD align=center width="10%">Sept 2019, March <BR>2023 </TD>
    <TD align=center width="10%"><B>-</B> <BR></TD>
    <TD align=center width="10%"><B>-</B> <BR></TD>
    <TD align=center width="10%"><B>-</B> <BR></TD>
    <TD align=center width="10%"><B>-</B> <BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>Bryan Ganz, <BR>Executive <BR>Chairman </TD>
    <TD align=center width="10%">552,727<SUP>(3)</SUP> <BR><BR></TD>
    <TD align=center width="10%">- <BR><BR></TD>
    <TD align=center width="10%">- <BR><BR></TD>
    <TD align=center width="10%">0.18 <BR><BR></TD>
    <TD align=center width="10%">Nov. 2022 <BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>Donald <BR>Levantin, <BR>Director </TD>
    <TD align=center width="10%">442,048<SUP>(4)</SUP> <BR><BR></TD>
    <TD align=center width="10%">- <BR><BR></TD>
    <TD align=center width="10%">- <BR><BR></TD>
    <TD align=center width="10%">0.18-0.20 <BR><BR></TD>
    <TD align=center width="10%">Aug. 2022, Nov. <BR>2022 <BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR></TD>
    <TD align=center width="10%"><B>-</B> <BR><BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>Karen Bowling <BR>Director </TD>
    <TD align=center width="10%">615,000<SUP>(5)</SUP> <BR></TD>
    <TD align=center width="10%">- <BR></TD>
    <TD align=center width="10%">- <BR></TD>
    <TD align=center width="10%">0.30 <BR></TD>
    <TD align=center width="10%">Oct., 2021, Aug. <BR>2022 </TD>
    <TD align=center width="10%"><B>-</B> <BR></TD>
    <TD align=center width="10%"><B>-</B> <BR></TD>
    <TD align=center width="10%"><B>-</B> <BR></TD>
    <TD align=center width="10%"><B>-</B> <BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>Paul Jensen <BR>Director </TD>
    <TD align=center width="10%">471,698<SUP>(6)</SUP> <BR></TD>
    <TD align=center width="10%">- <BR></TD>
    <TD align=center width="10%">- <BR></TD>
    <TD align=center width="10%">0.30 <BR></TD>
    <TD align=center width="10%">Oct., 2021, Aug. <BR>2022 </TD>
    <TD align=center width="10%"><B>-</B> <BR></TD>
    <TD align=center width="10%"><B>-</B> <BR></TD>
    <TD align=center width="10%"><B>-</B> <BR></TD>
    <TD align=center width="10%"><B>-</B> <BR></TD></TR></TABLE>
</DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Mr. Malhotra holds 50,000 options and 195,000 warrants
      with a strike price ranging from $0.13 - $0.30 and expiry dates ranging
      from September 23, 2019 to October 19, 2020.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>Level 4 Capital Corp., a company in which Mr. Thrasher
      owns a 50% interest, was issued 800,000 options on September 11, 2014
      (exercisable at $0.35 until September 10, 2019) and 800,000 compensation
      warrants on January 4, 2012 (exercisable at $0.13 until September 23,
      2019). Of the 800,000 options and 800,000 compensation warrants, Mr.
      Thrasher is entitled to 50%.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>Mr. Ganz holds 552,727 warrants through a company he
      controls called Northeast Industrial Partners LLC. The strike price of Mr.
      Ganz&#146;s warrants are $0.18, with an expiry date of November
  2022.</P></TD></TR></TABLE>
<P align=right>21 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_23></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>Mr. Levantin holds 99,667 stock options with a strike
      price of $0.15 with an expiry date of August 2022. Mr. Levantin also holds
      342,381 warrants with a strike price $0.18 with an expiry date of November
      2022.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>Ms. Bowling holds 615,000 stock options. The strike
      prices range from $0.08 to $0.15.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(6) </TD>
    <TD>
      <P align=justify>Mr. Jensen holds 471,698 warrants. The strike price of
      Mr. Jensen&#146;s warrants are $0.18 with an expiry date from November
    2022.</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Exercise of Compensation
Securities </I></B></P>
<P align=justify>During the year ended November 30, 2017, none of the officers
or directors of the Company exercised any compensation securities. </P>
<P align=justify><B>Retirement, Resignation or Termination Plans </B></P>
<P align=justify>We do not sponsor any plans, that would provide compensation or
benefits of any type to an executive upon retirement, or any plans that would
provide payment for retirement, resignation, or termination as a result of a
change in control of our Company or as a result of a change in the
responsibilities of an executive following a change in control of our Company,
except as described under &#147;Executive Compensation Agreements&#148; above. </P>
<P align=justify><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT</B></P>
<P align=justify>The following tables set forth information as of November 5,
2018 regarding the ownership of our common stock by: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>each person who is known by us to own more than 5% of our shares of common
  stock; and
  <LI>each Named Executive Officer, each director and all of our directors and
  executive officers as a group. </LI></UL>
<P align=justify>The number of shares beneficially owned and the percentage of
shares beneficially owned are based on shares of common stock outstanding as of
November 5, 2018.</P>
<P align=justify>For the purposes of the information provided below, shares
subject to options and warrants that are exercisable within 60 days following
November 10, 2017 are deemed to be outstanding and beneficially owned by the
holder for the purpose of computing the number of shares and percentage
ownership of that holder but are not deemed to be outstanding for the purpose of
computing the percentage ownership of any other person. Except as indicated in
the footnotes to these tables, and as affected by applicable community property
laws, all persons listed have sole voting and investment power for all shares
shown as beneficially owned by them. </P>
<P align=justify><B>Principal Stockholders</B> </P>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="90%" border=1>

  <TR vAlign=top>
    <TD align=left><B>Title of Class</B> <BR><BR><BR><BR></TD>
    <TD align=left width="30%" ><B>Name of Beneficial
      Owner<SUP>(1)</SUP></B> <BR>
      <BR><BR><BR></TD>
    <TD align=center width="18%"><B>Address of</B> <BR>
      <B>Beneficial
      Owner<SUP>(1)</SUP></B> <BR><BR><BR></TD>
    <TD align=center width="18%"><B>Amount and</B> <BR>
      <B>Nature of</B>
      <BR><B>Beneficial</B> <BR><B>Ownership</B> <BR><B>Shares</B> </TD>
    <TD align=center width="18%"><B>Percent of Class</B>
<BR>
<BR><BR><BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>Common <BR>Stock <BR></TD>
    <TD align=left width="30%" >Arthur Cohen <BR>
      <BR></TD>
    <TD align=left width="18%">12 South Main Street <BR>
      Suite 203 <BR>Norwalk,
      CT 06854 </TD>
    <TD align=right width="18%">6,551,512 <BR>
      <BR></TD>
    <TD align=right width="18%">6.4% <BR>
    <BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>Common <BR>Stock <BR></TD>
    <TD align=left width="30%" >Joseph Healey <BR>
      <BR></TD>
    <TD align=left width="18%">152 W 57th St 42nd <BR>
      Floor New York, NY
      <BR>10019 </TD>
    <TD align=right width="18%">6,551,512 <BR>
      <BR></TD>
    <TD align=right width="18%">6.4% <BR>
    <BR></TD></TR></TABLE></DIV>
<P align=right>22 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_24></A><BR>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="90%" border=1>

  <TR vAlign=top>
    <TD align=left>Common <BR>Stock </TD>
    <TD align=left width="30%" >Pierre LaPeyre Jr. </TD>
    <TD align=left width="18%">712 Fifth Avenue <BR>36th Floor, New <BR>York
      <BR>NY 10019 </TD>
    <TD align=right width="18%">6,146,549 </TD>
    <TD align=right width="18%">6.0% </TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><SUP>(1) </SUP></TD>
    <TD>
      <P align=justify>Beneficial ownership is determined in accordance with the
      United States Securities Act of 1933, as amended and the United States
      Securities Exchange Act of 1934, as amended and includes voting and
      investment power with respect to shares. Unless otherwise indicated, the
      persons named in this table have sole voting and sole investment control
      with respect to all shares beneficially owned. Figures shown are on a
      non-diluted basis.</P></TD></TR></TABLE>
<P align=justify><B>Security Ownership of Management </B></P>
<P align=justify>The following table sets forth, as of November 5, 2018, certain
information regarding the beneficial ownership of our common stock and the
percentage of shares beneficially owned by (i) the person serving as CEO of the
Company during 2017 (ii) the person serving as CFO of the Company during 2017
and (iii) the other three most highly paid executive officers of the Company who
were serving as executive officers at November 30, 2017 (together, the &#147;Named
Executive Officers&#148;) and each Director, and all current Directors and current
executive officers of the Company as a group. The mailing address for each Named
Executive Officer and Director is: c/o Security Devices International, Inc. 107
Audubon Road, Building 2, Ste 201, Wakefield, MA 01880. </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left ><B>Title of Class </B><BR></TD>
    <TD align=left width="40%" ><B>Name of Beneficial
      Owner<SUP>(1) </SUP></B><BR></TD>
    <TD align=center width="21%"><B>Amount and Nature of Beneficial
      <BR>Ownership Shares </B></TD>
    <TD align=center width="21%"><B>Percent of Class </B><BR></TD></TR>
  <TR vAlign=top>
    <TD align=left >Common Stock and Warrants </TD>
    <TD align=left width="40%" >Bryan Ganz, President, Director
    </TD>
    <TD align=right width="21%">5,733,944<SUP>(2) </SUP></TD>
    <TD align=right width="21%">5.6% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Common Stock, Options and Warrants </TD>
    <TD align=left width="40%" >Dean Thrasher, Executive
      Chairman, Director, Secretary </TD>
    <TD align=right width="21%">2,543,500<SUP>(3) </SUP></TD>
    <TD align=right width="21%">2.5% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Common Stock, Warrants </TD>
    <TD align=left width="40%" >Paul Jensen, Chief Executive
      Officer, Director </TD>
    <TD align=right width="21%">2,690,311<SUP>(5) </SUP></TD>
    <TD align=right width="21%">2.6% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Options, Warrants </TD>
    <TD align=left width="40%" >Rakesh Malhotra, Treasurer and
      Chief Financial Officer </TD>
    <TD align=right width="21%">245,000 <SUP>(4) </SUP></TD>
    <TD align=right width="21%">0.2% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Options </TD>
    <TD align=left width="40%" >Andre Buys, Chief Technology
      Officer </TD>
    <TD align=right width="21%">1,500,000<SUP>(6) </SUP></TD>
    <TD align=right width="21%">1.5% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Common Stock and Options </TD>
    <TD align=left width="40%" >Donald Levantin, (Director) </TD>
    <TD align=right width="21%">1,729,402<SUP>(7) </SUP></TD>
    <TD align=right width="21%">1.7% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Options </TD>
    <TD align=left width="40%" >Karen Bowling, Director </TD>
    <TD align=right width="21%">815,000<SUP>(8) </SUP></TD>
    <TD align=right width="21%">0.8% </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="40%" ><B>Total for Officers and
      Directors </B></TD>
    <TD align=right width="21%"><B>15,257,157 </B></TD>
    <TD align=right width="21%"><B>14.9% </B></TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Beneficial ownership is determined in accordance with the
      United States Securities Act of 1933, as amended and the United States
      Securities Exchange Act of 1934, as amended and includes voting and
      investment power with respect to shares. Unless otherwise indicated, the
      persons named in this table have sole voting and sole investment control
      with respect to all shares beneficially owned.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>4,227,884 shares of common stock are held in the name of
      Northeast Industrial Partners, LLC, an entity controlled by Mr. Ganz.
      Northeast Industrial Partners, LLC also holds 552,727 warrants in the
      Company. Mr. Ganz also holds 620,000 shares of common stock and 333,333
      warrants.</P></TD></TR></TABLE>
<P align=right>23 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_25></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>Includes warrants exercisable to acquire 400,000 shares
      of common stock and 800,000 shares of common stock in the name of 2412453
      Ontario Corp. (a company that Mr. Thrasher controls). Mr. Thrasher holds
      193,500 shares of common stock and options to acquire 1,150,000 shares of
      common stock.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>Includes options/warrants exercisable to acquire 245,000
      shares of common stock.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>Includes 2,051,946 shares of common stock and 638,365
      warrants.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(6) </TD>
    <TD>
      <P align=justify>Includes 1,500,000 options to acquire shares of common
      stock in the Company.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(7) </TD>
    <TD>
      <P align=justify>Includes vested options exercisable to acquire 299,667
      shares of common stock, and 885,312 shares of common stock, and 544,423
      warrants.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(8) </TD>
    <TD>
      <P align=justify>Includes vested options exercisable to acquire 815,000
      shares of common stock.</P></TD></TR></TABLE>
<P align=justify>We have no knowledge of any arrangements, including any pledge
by any person of our securities, the operation of which may at a subsequent date
result in a change in our control. </P>
<P align=justify>We are not, to the best of our knowledge, directly or
indirectly owned or controlled by another corporation or foreign government.
</P>
<P align=justify>As of the Record Date, we had approximately 388 stockholders of
record listed on our stock ledger. </P>
<P align=justify><B>INTEREST OF CERTAIN PERSONS AND CORPORATIONS IN MATTERS TO
BE ACTED UPON</B> </P>
<P align=justify>Except as described below, other than each director's and
officer's interest in the Company's Stock Option Plan, no person who has been a
director or executive officer of the Company since the beginning of the last
financial year and no associate or affiliate of any such director or executive
officer has any material interest, direct or indirect, by way of beneficial
ownership of securities or otherwise, in any matter to be acted upon at the
Annual Meeting. </P>
<P align=justify><B>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS </B></P>
<P align=justify>Except for the transactions described below, none of our
directors, senior officers or principal stockholders, nor any associate or
affiliate of the foregoing have any interest, direct or indirect, in any
transaction, since the beginning of the fiscal year ended November 30, 2017, or
in any proposed transactions, in which such person had or is to have a direct or
indirect material interest. </P>
<P align=justify>Related party transactions are reviewed and approved by the
Board. </P>
<P align=justify><B>Purchases of Securities</B></P>
<P align=justify>During and subsequent to the fiscal year ending November 30,
2017, our officers, directors and 10% stockholders purchased our securities on
the following terms: </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center><B>Officer, Director,</B> <BR><B>10% Stockholder</B> </TD>
    <TD align=center width="20%"><B>Type of Security</B> <BR></TD>
    <TD align=center width="20%"><B>Amount</B> <BR></TD>
    <TD align=center width="20%"><B>Price of Security</B> <BR></TD>
    <TD align=center width="20%"><B>Date of Purchase</B> <BR></TD></TR>
  <TR vAlign=top>
    <TD align=center>Bryan Ganz <SUP>(8)</SUP> </TD>
    <TD align=center width="20%">Shares </TD>
    <TD align=center width="20%">500,000 </TD>
    <TD align=center width="20%">N/A </TD>
    <TD align=center width="20%">October 23, 2018 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Bryan Ganz <SUP>(2)</SUP> </TD>
    <TD align=center width="20%">Convertible Note </TD>
    <TD align=center width="20%">$50,000 </TD>
    <TD align=center width="20%">$50,000 </TD>
    <TD align=center width="20%">October 23, 2018 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Bryan Ganz <SUP>(1)</SUP> </TD>
    <TD align=center width="20%">Shares </TD>
    <TD align=center width="20%">507,550 </TD>
    <TD align=center width="20%">$0.1204 </TD>
    <TD align=center width="20%">March 7, 2018 </TD></TR></TABLE></DIV>
<P align=right>24 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_26></A><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center>Bryan Ganz <SUP>(1)</SUP> </TD>
    <TD align=center width="20%">Shares </TD>
    <TD align=center width="20%">1,104,454 </TD>
    <TD align=center width="20%">$0.106 </TD>
    <TD align=center width="20%">November 28, 2017 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Bryan Ganz <SUP>(1)</SUP> </TD>
    <TD align=center width="20%">Shares </TD>
    <TD align=center width="20%">503,251 </TD>
    <TD align=center width="20%">$0.102 </TD>
    <TD align=center width="20%">February 15, 2017 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Bryan Ganz <SUP>(1)</SUP> </TD>
    <TD align=center width="20%">Shares </TD>
    <TD align=center width="20%">589,414 </TD>
    <TD align=center width="20%">$0.0848 </TD>
    <TD align=center width="20%">January 13, 2017 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Bryan Ganz <SUP>(1)</SUP> </TD>
    <TD align=center width="20%">Shares </TD>
    <TD align=center width="20%">534,941 </TD>
    <TD align=center width="20%">$0.0935 </TD>
    <TD align=center width="20%">May 26, 2017 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Bryan Ganz <SUP>(1)</SUP> </TD>
    <TD align=center width="20%">Shares </TD>
    <TD align=center width="20%">498,423 </TD>
    <TD align=center width="20%">$0.1003 </TD>
    <TD align=center width="20%">September 11, 2017 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Donald Levantin <SUP>(3)</SUP> </TD>
    <TD align=center width="20%">Convertible Note </TD>
    <TD align=center width="20%">$25,000 </TD>
    <TD align=center width="20%">$25,000 </TD>
    <TD align=center width="20%">October 23,2018 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Donald Levantin <SUP>(4)</SUP> </TD>
    <TD align=center width="20%">Convertible Note </TD>
    <TD align=center width="20%">$72,585 </TD>
    <TD align=center width="20%">$72,585 </TD>
    <TD align=center width="20%">November 28, 2017 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Paul Jensen <SUP>(5)</SUP> </TD>
    <TD align=center width="20%">Shares </TD>
    <TD align=center width="20%">339,370 </TD>
    <TD align=center width="20%">$0.1391 </TD>
    <TD align=center width="20%">March 7, 2018 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Paul Jensen <SUP>(5)</SUP> </TD>
    <TD align=center width="20%">Convertible Note </TD>
    <TD align=center width="20%">471,698 </TD>
    <TD align=center width="20%">$0.106 </TD>
    <TD align=center width="20%">November 28, 2017 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Paul Jensen <SUP>(6)</SUP> </TD>
    <TD align=center width="20%">Shares </TD>
    <TD align=center width="20%">$25,000 </TD>
    <TD align=center width="20%">$25,000 </TD>
    <TD align=center width="20%">October 23, 2018 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Dean Thrasher <SUP>(7)</SUP> </TD>
    <TD align=center width="20%">Shares </TD>
    <TD align=center width="20%">180,000 </TD>
    <TD align=center width="20%">N/A </TD>
    <TD align=center width="20%">October 23, 2018
</TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>These Shares were issued to Northeast Industrial
      Partners, LLC, an entity controlled by Mr. Ganz. The Shares were issued as
      compensation under the Consulting Agreement, and 1,104,454 for a note that
      was converted to Shares November 28, 2017.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>The principal amount of the note is convertible into
      Shares at a price of $0.15 per Share prior to repayment of the note. The
      note matures on April 15, 2020 but may be redeemed by the Company prior to
      that date.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>The principal amount of the note is convertible into
      Shares at a price of $0.15 per Share prior to repayment of the note. The
      note matures on April 15, 2020 but may be redeemed by the Company prior to
      that date.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>The note was converted on November 28, 2017 in Shares at
      a price of $0.106 per Share.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>The note was converted on November 28, 2017 in Shares at
      a price of $0.106 per Share. 339,370 Shares were issued to Mr. Jensen for
      services rendered under his employment agreement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(6) </TD>
    <TD>
      <P align=justify>The principal amount of the note is convertible into
      Shares at a price of $0.15 per Share prior to repayment of the note. The
      note matures on April 15, 2020 but may be redeemed by the Company prior to
      that date.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(7) </TD>
    <TD>
      <P align=justify>These Shares were issued to 2412453 Ontario Corp., a
      company controlled by Dean Thrasher, for services rendered under his
      consulting agreement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(8) </TD>
    <TD>
      <P align=justify>These Shares were issued to Bryan Ganz for services
      rendered under his Consulting Agreement.</P></TD></TR></TABLE>
<P align=justify><B>Non-Employee Director Compensation </B></P>
<P align=justify>During the fiscal year ending November 30, 2017, the Company&#146;s
non-employee directors received securities on the following terms: </P>
<P align=right>25 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_27></A><BR>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="90%" border=1>

  <TR vAlign=top>
    <TD vAlign=center align=center><B>Non-Employee</B> <BR><B>Director</B> </TD>
    <TD vAlign=center align=center width="20%"><B>Securities</B> </TD>
    <TD vAlign=center align=center width="20%"><B>Number of Options</B>
      <BR><B>Granted</B> </TD>
    <TD vAlign=center align=center width="20%"><B>Date of</B> <BR><B>Grant</B>
    </TD>
    <TD vAlign=center align=center width="20%"><B>Price of</B>
      <BR><B>Security</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center>Donald Levantin </TD>
    <TD align=center width="20%">Options </TD>
    <TD align=center width="20%">99,667 </TD>
    <TD align=center width="20%">2017-08-21 </TD>
    <TD align=center width="20%">$0.15 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Karen Bowling </TD>
    <TD align=center width="20%">Options </TD>
    <TD align=center width="20%">265,000 </TD>
    <TD align=center width="20%">2017-05-26 </TD>
    <TD align=center width="20%">$0.15 </TD></TR></TABLE></DIV>
<P align=justify><B>PROPOSAL 2 &#151; RATIFICATION OF APPOINTMENT OF
THE AUDITOR </B></P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>What am I voting on?
</I></B></P>
<P align=justify>The Audit Committee has selected UHY McGovern Hurley LLP to be
the Company&#146;s Independent Registered Public Accounting Firm for the current
fiscal year ending November 30, 2018. </P>
<P align=justify>This proposal seeks stockholder ratification of the appointment
of UHY McGovern Hurley LLP. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Information About the Auditor
</I></B></P>
<P align=justify>UHY McGovern Hurley LLP was the Independent Registered Public
Accounting Firm for the Company during the fiscal years ended November 30, 2017
and Schwartz, Levitsky, Feldman, LLP was the Company&#146;s Independent Registered
Public Accounting Firm for the fiscal year ended November 30, 2016. </P>
<P align=justify>If a representative of UHY McGovern Hurley LLP does attend the
Annual Meeting, they will be given an opportunity to make a statement, should
they choose to do so. We do not know if the representative, if one does attend
the Annual Meeting, would make himself or herself available for questions at the
Annual Meeting. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I>Audit Fees </I></B></P>
<P align=justify>The aggregate fees billed by our auditors for professional
services rendered in connection with the audit of our annual consolidated
financial statements for fiscal 2017 and 2016 included in our Forms 10-K for
fiscal 2017 and 2016 were $29,000 and $21,500 respectively. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I><U>Audit-Related
Fees</U></I></B></P>
<P align=justify>The aggregate fees billed by our independent registered public
accounting firm for any additional fees for assurance and related services that
are reasonably related to the performance of the audit or review of our
financial statements including review of the quarterly financial statements for
fiscal year 2017 and 2016 and are not reported under &#147;Audit Fees&#148; above were
$13,400 and $11,300 respectively. </P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I><U>Tax Fees</U></I></B></P>
<P align=justify>The aggregate fees billed by our auditors for professional
services for tax compliance, tax advice, and tax planning for fiscal 2017 and
2016 were $0 and $0, respectively.</P>
<P style="MARGIN-LEFT: 15%" align=justify><B><I><U>All Other
Fees</U></I><I> </I></B></P>
<P align=justify>The aggregate fees billed by our auditors for all other
non-audit services rendered to us, for fiscal 2017 and 2016 were $0 and $0,
respectively.</P>
<P align=justify>The Audit Committee does not have any formal pre-approval
policies and procedures for non-audit services undertaken by the registered
public accounting firm.</P>
<P align=right>26 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_28></A>
<P align=justify>The Board recommends a vote FOR the ratification of the
appointment of the independent registered public accounting firm. All proxies
executed and returned without an indication of how shares of common stock should
be voted will be voted FOR the appointment of the independent registered public
accounting firm. </P>
<P align=justify>The text of the resolution which management intends to place
before the Annual Meeting for approval is as follows: </P>
<P align=justify>&#147;BE IT RESOLVED, that appointment of UHY McGovern Hurley LLP as
the independent registered public accounting firm of the Company, is hereby
approved and that the Company&#146;s board of directors is authorized to fix the
auditors&#146; remuneration.&#148; </P>
<P align=justify><B>PROPOSAL 3 &#151; APPROVAL OF THE AMENDMENT
OF THE COMPANY&#146;S CERTIFICATE OF INCORPORATION TO INCREASE THE NUMBER OF
AUTHORIZED SHARES OF COMMON STOCK TO 300,000,000</B></P>
<P align=justify>At the Annual Meeting, shareholders will be asked to approve
the amendment of the Company&#146;s certificate of incorporation to increase the
number of authorized shares of common stock to 300,000,000. The Company&#146;s board
of directors has adopted a resolution setting forth the proposed amendment to be
considered at the annual meeting.</P>
<P align=justify>THE BOARD OF DIRECTORS OF THE COMPANY RECOMMENDS THAT
SHAREHOLDERS VOTE TO APPROVE THE AMENDMENT.</P>
<P align=justify>The text of the resolution which management intends to place
before the Annual Meeting for approval is as follows: </P>
<P align=justify>&#147;BE IT RESOLVED THAT the Amendment dated November 1, 2018 is
hereby approved, increasing the number of authorized shares of common stock of
the Company to 300,000,000.&#148; </P>
<P align=justify><B>Overview of the Revised Stock Option Plan (2017) </B></P>
<P align=justify>We have not granted any options which are subject to
ratification by stockholders. The table below shows securities issued under our
Revised Stock Option Plan as of November 30, 2017. </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center ><BR><BR><BR><BR><BR><BR><BR></TD>
    <TD align=center width="22%"><B>Number of</B> <BR><B>securities to be</B>
      <BR><B>issued upon</B> <BR><B>exercise of</B> <BR><B>outstanding</B>
      <BR><B>options,</B> <BR><B>warrants, and</B> <BR><B>rights </B>(a) </TD>
    <TD align=center width="22%"><B>Weighted-average exercise</B> <BR><B>price
      of outstanding</B> <BR><B>options, warrants and</B> <BR><B>rights</B>
      <BR><BR><BR><BR></TD>
    <TD align=center width="22%"><B>Number of securities</B> <BR><B>remaining
      available for</B> <BR><B>future issuance under</B> <BR><B>equity
      compensation</B> <BR><B>plans (excluding</B> <BR><B>securities reflected
      in</B> <BR><B>column (a)</B> <BR></TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>Equity compensation</B> <B>plans</B>
      <B>approved by security holders</B> </TD>
    <TD align=center width="22%">7,346,667 </TD>
    <TD align=center width="22%">$0.25 </TD>
    <TD align=center width="22%">2,033,190 </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>Equity compensation plans</B> <B>not</B>
      <B>approved by security holders</B> </TD>
    <TD align=center width="22%">-- </TD>
    <TD align=center width="22%">-- </TD>
    <TD align=center width="22%">-- </TD>
  </TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>As at November 5, 2018 there were 29,441,169 warrants to
      purchase common stock still outstanding.</P></TD></TR></TABLE>
<P align=center><B><I>Who is eligible to participate in the Company&#146;s
</I><I>Revised Stock Option Plan (2017)? </I></B></P>
<P align=justify>Any employee, officer, director or consultant of or providing
services to us or any parent, affiliate, or subsidiary of us, or any company
wholly owned by that employee, officer, director or consultant, is eligible to
be designated a participant in the Revised Stock Option Plan (2017). </P>
<P align=right>27 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_29></A>
<P align=justify>Currently, this includes, but is not limited to, the following
directors and executives: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&#149; </TD>
    <TD align=left width="95%">Dean Thrasher, Executive Chairman, Secretary
  </TD></TR>
  <TR vAlign=top>
    <TD align=left>&#149; </TD>
    <TD align=left width="95%">Rakesh Malhotra, Chief Financial Officer </TD></TR>
  <TR vAlign=top>
    <TD align=left>&#149; </TD>
    <TD align=left width="95%">Paul Jensen, CEO </TD></TR>
  <TR vAlign=top>
    <TD align=left>&#149; </TD>
    <TD align=left width="95%">Bryan Ganz, President </TD></TR>
  <TR vAlign=top>
    <TD align=left>&#149; </TD>
    <TD align=left width="95%">Andre Buys, CTO </TD></TR>
  <TR vAlign=top>
    <TD align=left>&#149; </TD>
    <TD align=left width="95%">Karen Bowling, Director </TD></TR>
  <TR vAlign=top>
    <TD align=left>&#149; </TD>
    <TD align=left width="95%">Donald Levantin, Director </TD></TR></TABLE>
<P align=justify>In total there are approximately 11 officers, directors,
employees, and consultants eligible under the Revised Stock Option Plan
(2017).</P>
<P align=justify><B><I>What benefit amounts are outstanding under the Revised
Stock Option Plan (2017)?</I></B><I> </I></P>
<P align=justify>The following is a summary of the current options outstanding
under our Revised Stock Option Plan (2017), to current officers and directors:
</P>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=20 width="80%" border=1>

  <TR vAlign=top>
    <TD align=center><B>Directors &amp; Officers</B> <BR></TD>
    <TD align=center width="33%"><B>Number of options</B> <BR><B>granted</B>
    </TD>
    <TD align=center width="33%"><B>Number of vested</B> <BR><B>options</B>
  </TD></TR>
  <TR vAlign=top>
    <TD align=center>Dean Thrasher </TD>
    <TD align=center width="33%">1,150,000 </TD>
    <TD align=center width="33%">1,150,000 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Rakesh Malhotra </TD>
    <TD align=center width="33%">50,000 </TD>
    <TD align=center width="33%">50,000 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Andre Buys </TD>
    <TD align=center width="33%">1,500,000 </TD>
    <TD align=center width="33%">0 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Karen Bowling </TD>
    <TD align=center width="33%">815,000 </TD>
    <TD align=center width="33%">815,000 </TD></TR>
  <TR vAlign=top>
    <TD align=center>Donald Levantin </TD>
    <TD align=center width="33%">299,667 </TD>
    <TD align=center width="33%">299,667 </TD></TR></TABLE></DIV>
<P align=justify><B>OTHER MATTERS</B></P>
<P align=justify>As of the date of this Proxy Statement, management does not
know of any other matter that will come before the Annual Meeting.</P>
<P align=justify>&nbsp;</P>
<P align=justify>By Order of the Board of Directors, </P>
<P align=justify><U>/s/ Dean Thrasher </U></P>
<P align=justify>Executive Chairman and Secretary</P>
<P align=justify>&nbsp;</P>
<P align=justify>November 6, 2018 </P>
<P align=right>28 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_30></A>
<P align=center>EXHIBIT A </P>
<P align=center><B>SECURITY DEVICES INTERNATIONAL INC. </B><BR>(the
&#147;Corporation&#148;) <BR></P>
<P align=center><B>AUDIT COMMITTEE CHARTER </B></P>
<P align=justify>The audit committee is a committee of the board of directors to
which the board delegates its responsibilities for the oversight of the
accounting and financial reporting process and financial statement audits. The
external auditor shall report directly to the committee.</P>
<P align=justify><B><U>Responsibilities</U> </B></P>
<P align=justify>The audit committee will: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">a) </TD>
    <TD>
      <P align=justify>recommend to the board of
directors:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the external auditor to be nominated for the purpose of
      preparing or issuing an auditor&#146;s report or performing other audit, review
      or attest services for the Corporation, and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the compensation of the external
  auditor;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">b) </TD>
    <TD>
      <P align=justify>oversee the work of the external auditor engaged for the
      purpose of preparing or issuing an auditor&#146;s report or performing other
      audit, review or attest services for the Corporation, including the
      resolution of disagreements between management and the external auditor
      regarding financial reporting;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">c) </TD>
    <TD>
      <P align=justify>review and report to the board of directors of the
      Corporation on the following before they are
published:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the financial statements and management discussion and
      analysis (MD&amp;A) of the Corporation;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the auditor&#146;s report, if any, prepared in relation to
      those financial statements;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">d) </TD>
    <TD>
      <P align=justify>review the Corporation&#146;s annual and interim earnings
      press releases before the Corporation publicly discloses this
      information;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">e) </TD>
    <TD>
      <P align=justify>satisfy itself that adequate procedures are in place for
      the review of the Corporation&#146;s public disclosure of financial information
      extracted or derived from the Corporation&#146;s financial
statements;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">f) </TD>
    <TD>
      <P align=justify>pre-approve all non-audit services to be provided to the
      Corporation or its subsidiaries by the Corporation&#146;s external
    auditor;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">g) </TD>
    <TD>
      <P align=justify>establish procedures for:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the receipt, retention and treatment of complaints
      received by the Corporation regarding accounting, internal accounting
      controls, or auditing matters, and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the confidential, anonymous submission by employees of
      the Corporation of concerns regarding questionable accounting or auditing
      matters;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">h) </TD>
    <TD>
      <P align=justify>review and approve the Corporation&#146;s hiring policies
      regarding partners, employees and former partners
and employees of the present and former external auditor of
  the Corporation;</P></TD></TR></TABLE>
<P align=right>29 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_31></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">i) </TD>
    <TD>
      <P align=justify>annually, assess the performance of the committee and its
      members and consider the need for any amendments to this
  charter.</P></TD></TR></TABLE>
<P align=justify><B><U>Composition of the Committee</U> </B></P>
<P align=justify>The committee will be composed of at least three directors from
the Corporation&#146;s board of directors, a majority of whom shall not be officers
or employees of the Corporation or any of its affiliates. </P>
<P align=justify>Unless the board of directors appoints a chair of the
committee, the members of the committee shall elect a chair and a secretary from
among their members. </P>
<P align=justify><B><U>Meetings</U></B></P>
<P align=justify>Meetings may be convened at the request of any member of the
audit committee or at the request of the Corporation&#146;s external auditor. The
committee shall meet regularly, but not less frequently than quarterly. </P>
<P align=justify>The quorum for meetings shall be a majority of the members of
the committee present in person or by telephone or other telecommunications
device that permits all persons participating in the meeting to speak and to
hear each other. The committee shall act on the affirmative vote of a majority
of the members present at a meeting at which there is a quorum. Without a
meeting, the committee may act by unanimous written resolution of all members.
</P>
<P align=justify>The committee members shall, when deemed appropriate, meet in
private session with the external auditor; with management and as committee
members only to discuss matters relevant to the committee&#146;s mandate. The
committee shall have access to such officers, consultants and employees of the
Corporation and to the Corporation&#146;s external auditors, and to such information
respecting the Corporation, as it considers necessary or advisable in order to
perform its duties and responsibilities. </P>
<P align=justify><B><U>Authority</U></B></P>
<P align=justify>The external auditor shall report directly to the committee.
The committee has the authority to communicate directly with the external
auditor and the internal auditor, without management involvement.</P>
<P align=justify>The committee has the authority to engage independent counsel
and other advisors as it determines necessary to carry out its duties and the
committee will set the compensation for such advisors. </P>
<P align=right>30 </P>
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