TSXV: MRS OTCQX: MSNVF
The Natick Soldier Research, Development and Engineering Center boosts the nation’s economy with the use of license agreements to facilitate commercial access to these technologies and provide cutting-edge technologies to our nation’s Warfighters. NS…
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VANCOUVER, B.C. – February 28, 2017 – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX-V : MRS) reports that, further to its news release providing a scheduled close date of February 24, 2017 for the acquisition of the business and certain assets of Wild Things, LLC (the “Transaction”), in order to complete the condition precedent of the transfer of an existing bank line of credit in place with Wild Things, LLC to Mission Ready’s wholly-owned entity, Wild Things USA, the completion has been re-scheduled until the bank underwriting process is complete which is expected in the next several days.
About Wild Things, LLC
Founded in 1981, Wild Things, LLC has earned a reputation for sophisticated, tough, lightweight technical outerwear, alpine-style backpacks, haul-bags, and innovative tactical clothing. Wild Things occupies a unique position in the marketplace with a 35 year heritage of pioneering product design for the specialized needs of the alpine mountaineering and military communities. Chosen for the world’s most demanding conditions by the world’s most demanding users, Wild Things, LLC manufactures its products in the USA under two divisions — Wild Things for the outdoor enthusiast and Wild Things Tactical for the unique needs of the military and law enforcement communities. In addition to the design studio and executive offices located in Middletown, Rhode Island, Wild Things operates a factory and second design studio in Gorham, New Hampshire. For more information, visit: http://wildthingsgear.com/
About Mission Ready
MRSI’s mission is to save lives and enhance the performance of military personnel, first responders, and those who protect us by working to ensure they are equipped with the best possible personal protective equipment.
Headquartered in Vancouver, BC, Mission Ready has three distinct, synergistic operating divisions:
Mission Ready’s management team offers over 100 years of combined industry experience and is composed of industry experts in developing products, contracting, and selling to the federal government, first responders and tactical markets through open market procurements, teaming arrangements, and a variety of federal contract tools.
For further information, visit MissionReady.ca or contact:
Terry Nixon – Director, Corporate Communications
Telephone: 1.877.479.7778
Mission Ready Services Inc.
(signed “Rod Reum”)
Rod Reum,
President & CEO
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by Mission Ready Services Inc. as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mission Ready Services Inc. to be materially different from those expressed or implied by such forward-looking information.
Forward-looking statements are based on assumptions management believes to be reasonable. Although Mission Ready Services Inc. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Mission Ready Services Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER, B.C. – February 21, 2017 – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX-V : MRS) is pleased to announce that the closing of the previously announced acquisition of the business and certain assets of Wild Things, LLC (the “Transaction”) is scheduled for February 24, 2017 valued at USD $4.5 million.
Pursuant to the Transaction, Mission Ready is acquiring the business of Wild Things, LLC and certain assets including inventories, manufacturing equipment, patents, material contracts, intellectual property, current outstanding purchase orders and the 2017 sales pipeline. This transaction is preceded by the closing of an agreement between a Japanese trading corporation (name withheld due to legal requirements) and Wild Things, LLC for the sale of certain Wild Things trademarks in Asia, including China and Japan and an exclusive trademark license and distribution agreement. The Wild Things heritage logo has been marketed in Japan under license for the past 20 plus years and these efforts will now be expanded.
Rod Reum, CEO & President of Mission Ready states, “We are very excited to be adding such a premium brand as Wild Things to our portfolio to complement our Protect The Force brand. We extend a warm welcome to the talented team at Wild Things. The merger of Wild Things with Mission Ready will allow both Wild Things and our PTF Manufacturing Inc. to significantly expand their reach into their current markets as well as have new markets opened up for each entity.”
“This is a huge deal for Wild Things”, said Ed Schmults, CEO of Wild Things. “To have a global powerhouse for a distribution partner in Asia is very significant for us as well as for some of the product lines of Protect The Force. All of us at Wild Things are thrilled to be working with Rod and the MRS team. These are two complementary businesses that mesh very well together. I think the timing is excellent for MRS and Wild Things to combine resources and take advantage of market opportunities. This sale allows us to significantly strengthen our balance sheet, return capital to shareholders and invest in the growth and development of our business”, said Schmults.
License and Distribution Agreement
Further to a November 2015 agreement providing exclusive import/distribution and master license rights for the Wild Things heritage brand in the Japanese market and precedent to Mission Ready’s purchase, Wild Things, LLC was in negotiations to sell certain trademark rights for Japan and several other Asian countries and has recently concluded that sale. Outside of these countries Wild Things retains ownership and all rights for the rest of the World subject to a right of first refusal by our Japanese trading partner. The distribution agreement gives us an established single trading partner in the fast growing Asian outdoor retail market.
Payment Terms
The cash portion of the Transaction price, is provided by a small allocation ($350,000) from the brand rights sale as previously mentioned and a $4.15MM loan from Wild Things, LLC secured by the assets of Wild Things USA, a wholly-owned subsidiary of Mission Ready formed to facilitate the Transaction. The company will work to replace the Wild Things, LLC loan over the next several months.
About Wild Things, LLC
Founded in 1981, Wild Things, LLC has earned a reputation for sophisticated, tough, lightweight technical outerwear, alpine-style backpacks, haul-bags, and innovative tactical clothing. Wild Things occupies a unique position in the marketplace with a 35 year heritage of pioneering product design for the specialized needs of the alpine mountaineering and military communities. Chosen for the world’s most demanding conditions by the world’s most demanding users, Wild Things, LLC manufactures its products in the USA under two divisions — Wild Things for the outdoor enthusiast and Wild Things Tactical for the unique needs of the military and law enforcement communities. In addition to the design studio and executive offices located in Middletown, Rhode Island, Wild Things operates a factory and second design studio in Gorham, New Hampshire. For more information, visit: http://wildthingsgear.com/
About Mission Ready
MRSI’s mission is to save lives and enhance the performance of military personnel, first responders, and those who protect us by working to ensure they are equipped with the best possible personal protective equipment.
Headquartered in Vancouver, BC, Mission Ready has three distinct, synergistic operating divisions:
Mission Ready’s management team offers over 100 years of combined industry experience and is composed of industry experts in developing products, contracting, and selling to the federal government, first responders and tactical markets through open market procurements, teaming arrangements, and a variety of federal contract tools.
For further information, visit MissionReady.ca or contact:
Terry Nixon – Director, Corporate Communications
Telephone: 1.877.479.7778
Mission Ready Services Inc.
(signed “Rod Reum”)
Rod Reum,
President & CEO
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by Mission Ready Services Inc. as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mission Ready Services Inc. to be materially different from those expressed or implied by such forward-looking information.
Forward-looking statements are based on assumptions management believes to be reasonable. Although Mission Ready Services Inc. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Mission Ready Services Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER, B.C. – February 17, 2017 – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX-V : MRS) reports that, further to the news release dated January 4, 2017 announcing a non-brokered private placement financing of up to 11,000,000 units (the “Units”) at $0.10 per Unit for gross proceeds of up to CDN $1,100,000 (the “Offering”), the Company has received conditional approval from the TSX Venture Exchange to close the Offering for a total of 4,660,000 Units raising gross proceeds of CDN $466,000.
Each Unit consists of one common share in the capital of the Company (a “Share”) and one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.15 per Warrant Share until December 21, 2018.
The Units were sold on a private placement basis to persons who qualified as Accredited Investors or by other such exemptions available under applicable securities legislation in Canada and other jurisdictions determined by the Company. The securities offered are subject to resale restrictions of four months plus one day from the date of issue pursuant to the applicable securities laws.
The Company has paid cash commissions of $19,680 and issued 196,800 Broker Warrants to finders as compensation in relation to the Offering.
The close of the first tranche was reported in a news release dated January 11, 2017 and accounted for the aggregate total issued in connection with the Offering. The Company has opted not to accept any subsequent subscriptions following the first tranche close while the Company is in negotiations for the services of a large independent cross-border Corporate Finance advisory firm.
The Company has closed the Offering in compliance with the timelines stipulated in TSX-V Policy 4.1.
For further information, visit MissionReady.ca or contact:
Terry Nixon – Director, Corporate Communications
Telephone: 1.877.479.7778
Mission Ready Services Inc.
(signed “Rod Reum”)
Rod Reum,
President & CEO
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by Mission Ready Services Inc. as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mission Ready Services Inc. to be materially different from those expressed or implied by such forward-looking information.
Forward-looking statements are based on assumptions management believes to be reasonable. Although Mission Ready Services Inc. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Mission Ready Services Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Lighter weight protective body armor and undergarments, conformal wearable computers and integrated sensors powered by emerging battery technologies — are all part of the Army’s cutting-edge scientific initiative aimed at shaping, enhancing and sustaining the Soldier of the Future.
Kris Osborn | Scout.com
The U.S. Army has set up a special high-tech laboratory aimed at better identifying and integrating gear, equipment and weapons in order to reduce the current weight burden placed on Soldiers and give them more opportunities to successfully execute missions, service officials said.
CLICK HERE TO READ THE FULL ARTICLE AT SCOUT.COM
VANCOUVER, B.C. – February 8, 2017 – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX-V : MRS) is pleased to provide the following update on developments since the start of 2017 including an up to USD $6MM commitment from White Horse R&D, Inc. (“White Horse”) for B-Cool concealed carriers to be delivered over the next 36-months.
Commitment of up to USD $6MM for B-Cool Concealed Carriers
Manufactured in Jacksboro, Tennessee at Protect The Force Manufacturing, the Company’s B-Cool concealed carrier (“B-Cool”) was designed with law enforcement officers in mind. The B-Cool is a low visibility concealable carrier that offers wrap around protection on the sides. This lightweight carrier is the ultimate in concealed comfort and protection using a state-of-the-art ergonomic design that offers its wearer optimum comfort for extended time periods. Additional information on the B-Cool product can be found at ProtectTheForce.com.
The Company will provide 8,000 to 10,000 B-Cool concealed carriers per year to White Horse to be deployed for protection of those in the security industry.
Flex9Armor™ Featured on Cover of Officers Only Catalog
Flex9Armor – a revolutionary protective product developed and manufactured by Protect The Force (“PTF”) – has been selected as the featured product on the front cover of the 2017 Officers Only Catalog. Officers Only is a division of Bob Barker Company, Inc., the leading provider of high-quality supplies and services for the corrections industry since 1972.
PTF Secures Advanced Functional Fabrics of America (“AFFOA”) Membership
Protect The Force has executed a membership agreement with AFFOA to further broaden its reach and influence in the Advanced Textiles Industry. PTF will immediately begin to leverage the benefits associated with its AFFOA membership including privileged access to the AFFOA Roadmap and new technology developments, gaining access to the AFFOA member databases, and engaging in business development opportunities within the AFFOA ecosystem.
AFFOA’s mission is to enable a manufacturing-based revolution by transforming traditional fibers, yarns, and fabrics into highly sophisticated, integrated and networked devices and systems.
SHOT Show 2017
In addition to the high volume of product demonstrations conducted by request to enthusiastic professional users and purchasers at PTF’s SHOT Show 2017 booth, Protect The Force is pleased to report that it added an additional 27 new dealers to its distribution network bringing the aggregate total to 87. The vetting and training of these new dealers is in process. PTF management also met with a number of emerging technology innovators who are exploring the integration of their technologies into PTF product lines.
Wild Things Gear Acquisition
Further to the News Release dated January 4, 2017 with an update on the Wild Things, LLC asset purchase, due to the complex nature of the arrangement and certain other third party negotiations, the acquisition was not able to be finalized within the expected timeframe. The Company reports that the negotiations are ongoing and it is hopeful that they will be completed in a timely manner.
About White Horse
White Horse R&D, Inc. offers state of the art ballistics and blast protection, asset protection and hazardous environmental containment. White Horse’s products provide life saving protection for the United States war fighters, law enforcement officers and its Allies. For more information on White Horse R&D, Inc. visit http://whitehorserd.com.
About Protect The Force
PTF’s mission is to save lives and enhance the performance of military personnel, first responders, and those who protect us by working to ensure they are equipped with the best possible personal protective equipment.
Protect The Force brings innovative products, manufacturing and entrepreneurial expertise together into one unified business with a focus on developing and sustaining strong relationships within the protective products industry. Developing, manufacturing and fielding premier protective innovations to government and industry clients, Protect The Force is led by a team with over a century of combined experience in management, production, operations, research and development, marketing and product sales. Protect The Force – Protection is in our DNA™
About Mission Ready
MRSI’s mission is to save lives and enhance the performance of military personnel, first responders, and those who protect us by working to ensure they are equipped with the best possible personal protective equipment.
Headquartered in Vancouver, BC, Mission Ready has three distinct, synergistic operating divisions:
Mission Ready’s management team offers over 100 years of combined industry experience and is composed of industry experts in developing products, contracting, and selling to the federal government, first responders and tactical markets through open market procurements, teaming arrangements, and a variety of federal contract tools.
For further information, visit MissionReady.ca or contact:
Terry Nixon – Director, Corporate Communications
Telephone: 1.877.479.7778
Mission Ready Services Inc.
(signed “Rod Reum”)
Rod Reum,
President & CEO
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by Mission Ready Services Inc. as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mission Ready Services Inc. to be materially different from those expressed or implied by such forward-looking information.
Forward-looking statements are based on assumptions management believes to be reasonable. Although Mission Ready Services Inc. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Mission Ready Services Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
