Mission Ready Grants Stock Options

VANCOUVER, BRITISH COLUMBIA – (SEPTEMBER 25, 2017) – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX VENTURE:MRS) announces that it has granted incentive stock options (the “Options”), pursuant to its stock option plan, for a total of 10,900,000 common shares of the Company, to certain directors, officers and consultants of the Company. The Options are exercisable at a price of $0.25 per share for a period of ten years.

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 “Jeffery L. Schwartz”)

Jeffery L. 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 Closes CAD$1.65MM Private Placement

VANCOUVER, BRITISH COLUMBIA – (SEPTEMBER 25, 2017) – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX VENTURE:MRS) is pleased to announce that it has closed a non-brokered private placement financing for gross proceeds of $1,650,000 (the “Offering”). The proceeds from the Offering will be used for growth opportunities, sales and marketing initiatives, product development, and general working capital.

Pursuant to the Offering, the Company issued 6,600,000 units (the “Units”) at a price of $0.25 per Unit. Each Unit consists of one common share in the capital of the Company (a “Share”) and one‑half of 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 $0.50 per Warrant Share until September 22, 2019.

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 and the closing of the Offering is subject to receipt of final approval of the TSX Venture Exchange.

The Company has paid total cash commissions of $92,810 and issued 185,620 finder’s Warrants, with the same terms as the Unit Warrants, as compensation in relation to the Offering.

Jeffery Schwartz, President & CEO of the Company, states, “We have made tremendous strides in improving our balance sheet over the past 90 days. We believe that the Company’s available resources are best utilized in growing the business as opposed to servicing outstanding payables which is why we chose to add $1.65M in capital resources through an equity Offering. This additional operating capital will help to significantly bolster the continued, unencumbered growth of the Company.”

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 “Jeffery L. 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 Receives Purchase Order for High-Threat Harness Plate Carrier & Soft Armour, Announces Warrant Exercises

VANCOUVER, BRITISH COLUMBIA – (SEPTEMBER 20, 2017) – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX VENTURE:MRS) is pleased to report that, in an entirely unrelated transaction from the recently announced Foreign Military Distribution Agreement for the supply of minimum USD$400MM in Protect The Force (“PTF”) products over 5-years, PTF, a wholly-owned subsidiary of the Company, has received a USD$400,000 – approximately CAD$490,000 – purchase order (the “Award”) for a domestic government application. To be fulfilled and delivered within 45-days, the Award is for PTF’s High-Threat Harness Plate Carrier (the “Carrier”) and GS3A06 Concealed Soft Armor (the “Armor”).

Made in the United States of America, The High Threat Harness Plate Carrier features full padded shoulders with a unique spacer mesh designed to relieve the load. The front and back torso utilizes a stand-­off breathable fabric designed to increase body cooling while the cummerbund features a rear bungee strap closure for increased range of motion. The NIJ 0101.06 certified GS3A06 is a high-performance compilation of ballistics aimed at protecting the forces at the maximum potential without sacrificing mobility.

Jeff Schwartz, President & CEO of Mission Ready stated, “We are very pleased with the exponential momentum that is building for the Company and believe that our recent successes are only the tip of the iceberg with respect to the potential for our innovations and manufacturing divisions. Each of these wins, big or small, further validates the quality of our growing portfolio of top-tier, tech-centric products that we have started to vigorously market to governments and industries on home soil and internationally.”

Foreign Military Distribution Agreement
Further to the September 6, 2017 news release announcing the Foreign Military Distribution Agreement, the Company expects to receive the initial purchase order(s) for the Flex9Armor and No-Contact Tactical Shield Covers during Q4 2017, and is progressing with the required logistics and preparations to scale its manufacturing capacity over a planned 90-day ramp-up period.

Balance Sheet Improvements
The Company recently announced a number of significant measures taken to improve its balance sheet and reduce outstanding liabilities, which included the removal of CAD$5.4MM in debt related to the Wild Things transaction, and the cancellation of over CAD$170,000 in directors’ fees.  Further to these capital improvements, Mission Ready is pleased to announce that the recent strengthening of the Company’s share price has resulted in a significant number of outstanding warrant exercises, with approximately CAD$1.2M exercised and received to date.

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 Enters Commercialization Stage for Department of Homeland Security-funded AMBER Project

VANCOUVER, BRITISH COLUMBIA – (SEPTEMBER 13, 2017) – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX VENTURE:MRS) is pleased to provide an update on the US Government-funded AMBER project – a collaborative effort between North Carolina State University (“NCSU”), the prime contractor, and Protect the Force (“PTF”), the subcontractor/commercialization partner – for the development of an Advanced Multi-Functional Base Ensemble for Emergency Responders (“AMBER”).

First announced as a cooperative agreement between Protect the Force, a wholly-owned subsidiary of the Company, and NCSU Textile Protection and Comfort Center (“TPACC”), Mission Ready subsequently reported the expansion of the program with additional uniforms requested for further systems-level testing by the NCSU, and field testing that was conducted by the United States Department of Homeland Security (“DHS”).

The AMBER uniform is a next generation solution, described as the Advanced Multi-Functional Base Ensemble for Emergency Responders, that integrates state-of-the-art technologies including flame resistance, blood-borne pathogen protection, water repellency, improved comfort, integrated knee pads, and high visibility among other critical features.

The AMBER uniforms have undergone user evaluations performed by first-responders within the United States, and by expert users within key allied governments internationally. Tailored to meet the needs of three distinct first-responder communities – Fire Fighters, Emergency Medical Technicians and Law Enforcement – the AMBER uniform recently received certification by Underwriters Lab (“UL”) for National Fire Protection Association (“NFPA”) 1975, Standard on Emergency Services Work Clothing Elements. “This was a major milestone as the testing of every single component of the uniform, including thread, zippers, fabrics and final uniforms, were evaluated under the most rigorous NFPA standards,” states Francisco Martinez, Mission Ready’s Chief Technology Officer.

“It is an honor to be chosen by the Department of Homeland Security to commercialize the AMBER uniform and to lend our expertise to the development of next generation, life-saving products. The success we have had in this multi-year project further validates Mission Ready’s distinguished track record in pioneering top-tier, tech-centric innovations and we will soon begin introducing these products into targeted dealer and distributor channels both nationally and internationally,” states Jeff Schwartz, President & CEO of Mission Ready.

With approximately 2.3M DHS and law enforcement personnel in the United States alone (21.4M globally), in addition to 2.3M Emergency Medical/Fire & Rescue responders (27.1M globally), go-to-market planning has been initiated by the Company and commercialization efforts are slated to commence November 2017.

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 Appointment of Jeffery L. Schwartz as a Director and Announces Cancellation of CAD$171,400 in Accrued Directors’ Fees

Vancouver, British Columbia – September 7, 2017 – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX-V: MRS) is pleased to announce the appointment of Jeffery L. Schwartz, the Company’s President and CEO, as a member of the Company’s board of directors, effective immediately.

Jeffery L. Schwartz has an extensive background in all aspects of executive management and has served in director level positions for both privately held and publicly traded companies, most recently as President of LC Industries, a $380MM manufacturing and distribution business that grew from $50MM during his 10-year tenure.

With a strong focus on new business development and team building, Mr. Schwartz has developed several companies within the tactical armor industry and has a history of achievements in elevating similar-stage companies to great success in the defense industry.

The Company also announces that its Board of Directors have agreed to cancel CAD$161,400 in accrued directors’ fees owing to them, and also forfeit their entitlements for the month of September 2017, for an aggregate amount in fees to be cancelled and removed from the Company’s balance sheet of CAD$171,400. The cancellation of these fees will be reflected in the Company’s 3rd quarter financial statements, for the 3-months ended September 30, 2017, which are due to be filed November 29, 2017.

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 and Director

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 to Supply Protect The Force Products for Foreign Military

VANCOUVER, BRITISH COLUMBIA – (SEPTEMBER 6, 2017) – Mission Ready Services Inc. (“Mission Ready” or the “Company” or the “Manufacturer”) (TSX VENTURE:MRS) announces that it has signed a 5-year, multi-million dollar exclusive distribution agreement (the “Agreement”) with a US-based contracting partner (the “Distributor”) to manufacture and supply Flex9Armor and No-Contact Tactical Shield Covers – among other Protect The Force (“PTF”) products – for a large foreign military.

The Agreement includes annual minimum purchase volumes – USD$50MM for 2017 through December 31, 2018 – which must be met in order for certain Distributor provisions to remain in effect, including regional exclusivity and an automatic renewal of the contract in 2022 for an additional 5-year term.

Material Terms of the Agreement include:

  • Minimum Purchases (USD): Year 1 (2018), $50MM; Year 2 (2019), $50MM; Year 3 (2020), $100MM; Year 4 (2021), $100MM; Year 5 (2022), $100MM.
  • Advance Payments: Distributor agrees to pay Mission Ready (the “Manufacturer”) a down payment equal to forty percent (40%) of the purchase order amount within 10-days of submitting the purchase order.
  • Exclusivity: Manufacturer appoints Distributor, on an exclusive basis, as its sole distributor for the defined territory.

Pursuant to the terms of the Agreement, the Distributor shall purchase a sufficient amount of products from Manufacturer so as to meet or exceed the minimum purchase requirements set forth above; provided, however, that purchases of products in excess of the minimum purchase requirement for any period shall be credited towards the minimum purchase requirements for subsequent periods. For the purposes of this provision, a “purchase” of products within a specified time period shall mean paying Manufacturer for such products on or before the last day of such period. Failure to meet such minimum requirements shall constitute a material breach of the Agreement provided, however, that in lieu of terminating the Agreement, Manufacturer may instead elect in its sole discretion to change the exclusive rights granted to Distributor for its defined territory.

MediaTech Capital Partner’s Porter Bibb, who recently partnered with Mission Ready (see Company’s news release dated August 2, 2017), states, “Mission Ready’s impressive new management team has delivered on its promise to put Mission Ready on a fast track to rapid growth and significant profitability as a market leader in the burgeoning military and public safety tactical equipment sector.” MediaTech will assist the Company with obtaining bridge loan capital for raw materials, as required, and will help to facilitate the rapid expansion of the Company’s manufacturing and sales divisions.

This distribution agreement is the first of several additional developing national and international opportunities in the Company’s growing sales backlog. With strengthening sales to U.S. military and law enforcement agencies, Mission Ready has begun to develop an aggressive global marketing initiative to extend its sales pipeline into other sovereign nations.

“The excitement that is building around the PTF product line is proof positive of the global appeal of Mission Ready’s innovative technology and cost-efficient products including its Flex9Armor and No-Contact Tactical Shield technologies, both designed to save lives and provide users with a unique protection in crowd control and other close quarter situations,” states Jeffery Schwartz, President & CEO of Mission Ready.

Schwartz continued, “Mission Ready’s expertise in intelligent textiles and defense-related technologies is a prime reason this distributor has chosen our patented, proprietary products which have been designed to meet the growing demand for maximum reliability and affordable protection for both military and law enforcement applications. We are positioning ourselves as a global market leader and expect to grow organically and through acquisitions since the tactical equipment market is a very fragmented, cottage industry ripe for consolidation.”

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 DECLINES WILD THINGS ACQUISITION, ELIMINATES CAD$5.4MM DEBT

VANCOUVER, BRITISH COLUMBIA – (SEPTEMBER 5, 2017) – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX VENTURE:MRS) reports that, after an extensive evaluation of the costs and benefits of its acquisition of Wild Things, LLC (“Wild Things”), conducted over the past five months through cooperative efforts with the Wild Things team, the Company has chosen not to proceed with the transaction.

Mission Ready has concluded that the near-term growth prospects of certain well-advanced, unrelated manufacturing and sales opportunities outweigh the value to the shareholders of the Wild Things acquisition. In addition, management believes it to be in the best interest of its shareholders to effectively remove USD$4.15MM – approximately CAD$5.4MM – in debt from the Mission Ready balance sheet and to focus Company resources on its rapidly expanding product development and manufacturing business while growing its national and international client network.

Jeffery Schwartz, President & CEO of Mission Ready states, “On behalf of all of us at Mission Ready, we express our sincere appreciation to the Wild Things team for their hard work and dedication and we wish them all the best going forward. We are firm advocates of the Wild Things brand and would welcome the opportunity to maintain a close working relationship with the Wild Things team and continue to manufacture Wild Things products as required.” Mr. Schwartz also states, “We would also be open to exploring a future arrangement with Wild Things on terms that are deemed to be accretive to the Company and in the best interest of the Mission Ready shareholders.”

Pursuant to the terms of the Wild Things Asset Purchase Agreement, the Company is obligated to pay a Break Fee of USD$200,000 – of which USD$100,000 has already been paid – and return the shares of the Company’s Wild Things USA Inc. subsidiary to the shareholders of Wild Things, LLC.

Further to the additional time and resources afforded to the Company, the decision to cancel the Wild Things acquisition will also have an impact on the Company’s financial statements that, management believes, will better position the Company for the procurement of growth capital.

Effect on Mission Ready’s Balance Sheet ¹ (at June 30, 2017)

  • Elimination of Notes Payable and Current Liabilities totaling $6.6MM
  • Reduction of $2.77MM of Intangible Assets, $2.59MM of Inventory and $0.65MM of Accounts Receivable

Effect on Mission Ready’s Income Statement (for the 6-months ended June 30, 2017) ¹

  • Reduction of $1.0MM offset by a reduction in Total Expenses of $1.5MM
  • Net Operating Loss for the period reduced by $0.48MM

The Company is negotiating agreements for large foreign military opportunities – expected to be completed shortly – where Company resources that were previously dedicated to the Wild Things business will be immediately redirected.

¹ Amounts are approximate and in CAD currency using a USD-CAD conversion rate of 1.33.

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.