MISSION READY REPORTS STRENGTHENED PRODUCTION & SALES REVENUES FOR Q2 2017
VANCOUVER, BRITISH COLUMBIA – (June 22, 2017) – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX VENTURE:MRS) is pleased to report strengthened production and sales volumes for the current quarter with Q2 2017 revenues projected to be approximately $1.8MM[1], an increase exceeding 65% over the same period in 2016. These revenues represent the combined sales from the Company’s wholly-owned subsidiaries – PTF Manufacturing (“PTFM”), Wild Things USA (“Wild Things”), and 10-20 Services (“10-20”) – and will be reflected in the Company’s 2nd quarter financial results due August 29, 2017.
“We are very pleased with the growth we are seeing during what is typically the slowest quarter of the year in terms of sales and revenue generation,” states Jeff Schwartz, President & CEO of Mission Ready Services Inc.
Manufactured in-house at the Company’s 22,000 square foot facility in Jacksboro, Tennessee, PTFM delivered $425,000[1] in B-Cool Concealed Carriers to White Horse R&D, Inc. (“White Horse”) in addition to the fulfillment of multiple additional purchase orders over the most recent 11 weeks. The $7.98MM[1] commitment for the B-Cool concealed carriers to be delivered over a 36-month period was first announced in a February 8, 2017 news release. Production at PTFM is in full swing fulfilling purchase orders and delivering the quality-assured products per client specifications and on schedule. Additionally, while generating sales revenues for the quarter of approximately $865,000[1], Wild Things began transitioning its products to be manufactured in-house at PTFM as part of the ongoing integration initiatives.
Mr. Schwartz continues, “At PTFM, rapid prototyping, custom design and manufacturing is what we do, and we do it well. Our process from concept to delivery – the B-Cool concealed carrier being a prime example – is highly scalable and gives us a competitive edge in capturing a significant volume of the market share within the vast and growing personal protective equipment industry. Our team – design, production, sales & administration – is comprised of some of the best and most experienced professionals in the industry who will be instrumental in helping us reach our growth targets both short and long term.”
[1] Amounts are approximate and quoted in Canadian dollars converted from USD using a USD–CAD exchange rate of 1.33.
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 https://whitehorserd.com/.
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 Services Inc.
Mission Ready serves 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:
- Innovations and Development of Personal Protective Equipment & Cold Weather Gear
- Manufacturing of Leading Military & Law Enforcement Personal Protective Equipment / Cold Weather Gear / Tough, Lightweight Technical Outwear
- Cleaning, Decontamination & Repair of Personal Protective Equipment
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 ProtectTheForce.com
Terry Nixon – Director, Corporate Communications
Telephone: 1.877.479.7778
Mission Ready Services Inc.
(signed “Jeff Schwartz”)
Jeff Schwartz,
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.
Mission Ready Signs Distribution Agreement with Federal Resources
VANCOUVER, BRITISH COLUMBIA – (June 7, 2017) – Mission Ready Services Inc. (“Mission Ready”) (TSX VENTURE: MRS) is pleased to announce that Protect The Force (“PTF” or “The Company”), a wholly-owned subsidiary of Mission Ready, has signed a distribution agreement (the “Distribution Agreement”) with Federal Resources Supply Company (“FRSC”) for the sale of its Flex9Armor (the “Product”) into agencies of the United States Government, agencies of state governments, and other potential customers (the “Market Segment”).
Pursuant to the agreement, FRSC will place an initial stocking order – and will maintain a minimum inventory level – of approximately USD $30,000 – $40,000 in Product for logistical efficiency and expedited fulfillment purposes. Protect The Force will utilize FRSC’s facilities, personnel, and capabilities, on a non-exclusive basis, for the sale, delivery and limited servicing of the Company’s Flex9Armor product. Pursuant to the agreement, PTF will provide training and instruction in the sale and use of the Product, and FRSC will maintain a properly trained sales force and actively promote sales of the Flex9Armor within the Market Segment.
“Federal Resources shares our passion for the uncompromising quality and protection that our heroes on the battlefield deserve, from first-responders to the many selfless men and women serving in the military. Federal Resources continues to champion their commitment to excellence and we are honored to have their team representing Protect The Force in promoting our Flex9Armor,” states Jeffrey Schwartz, President & CEO of Mission Ready.
Expanding from modest beginnings as a small business serving local divers in Virginia in 1986 to its current global position as a leading provider of quality solutions for warfighters and first responders worldwide, Federal Resources has paved the way in the service contract and manufacturing industry. FR attributes its remarkable rise to extensive, long-held relationships with trusted vendors honed over more than three decades, its loyal customers and the company’s meticulous attention to relevancy and detail.
About Federal Resources
Federal Resources is committed to providing quality products and technical resources at the highest level of service and integrity to protect and empower those who serve in the Armed Forces and on Federal, State and Local and International Emergency Response Teams. Federal Resources is committed to exceeding our customers’ expectations for quality, responsiveness, price and delivery. For our employees, quality is a mindset and a mission.
About Mission Ready Services Inc.
Mission Ready serves 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:
- Innovations and Development of Personal Protective Equipment
- Manufacturing of Leading Military & Law Enforcement Personal Protective Equipment
- Cleaning, Decontamination & Repair of Personal Protective Equipment
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 ProtectTheForce.com
Terry Nixon – Director, Corporate Communications
Telephone: 1.877.479.7778
Mission Ready Services Inc.
(signed “Jeff Schwartz”)
Jeff Schwartz,
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.
Mission Ready Announces New Chief Financial Officer, Closes Private Placement Financing
VANCOUVER, BRITISH COLUMBIA – (June 1, 2017) – Mission Ready Services Inc. (“Mission Ready”) (TSX VENTURE: MRS) is pleased to announce the appointment of Dong Shim as CFO and Secretary of the Company, effective immediately. Nicolette A. Keith has stepped down as CFO and Secretary of the Company to pursue another professional opportunity. Ms. Keith has agreed to sit as a member of the Company’s Advisory Council. The Company wishes to thank Ms. Keith for her service as an officer of the Company.
Dong H. Shim is a member of the Chartered Professional Accountants of British Columbia and a Certified Public Accountant registered in the State of Illinois, United States.
Mr. Shim has served as an audit partner on numerous audit engagements with a mid-size firm located in Vancouver, British Columbia, where he audited various publicly traded companies, primarily focusing on junior mining, oil and gas, pharmaceutical, and high-tech industries. As an audit partner, Mr. Shim also assisted various start-up companies in achieving public listings on the TSX Venture Exchange, Canadian Securities Exchange and the OTC Market.
Mr. Shim is currently the President of Golden Tree Capital Corp. and SHIM Accounting Corporation with a primary focus on business advisory, corporate consulting and regulatory filings both in the United States and Canada. In addition, Mr. Shim teaches accounting as an instructor at a local college in Vancouver and acts as a facilitator at CPA Western School of Business mentoring CPA candidates enrolled in the CPA Professional Education Program.
Convertible Debenture Financing
The Company reports that it has closed its brokered private placement financing of up to CAD $1.5MM aggregate principal amount of secured convertible debentures (the “Offering”) with gross proceeds raised of CDN $800,000. Further details of the Offering can be found in the Company’s news releases dated April 5, 2017 and April 28, 2017 which can be viewed on the Company’s website at www.MissionReady.ca or at www.sedar.com.
About Mission Ready Services Inc.
Mission Ready serves 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:
- Innovations and Development of Personal Protective Equipment
- Manufacturing of Leading Military & Law Enforcement Personal Protective Equipment
- Cleaning, Decontamination & Repair of Personal Protective Equipment
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 ProtectTheForce.com
Terry Nixon – Director, Corporate Communications
Telephone: 1.877.479.7778
Mission Ready Services Inc.
(signed “Jeff Schwartz”)
Jeff Schwartz,
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.
