Mission Ready Highlights Q3 Financial Results

AGM and Live Event with Q&A to be held on December 1, 2021

VANCOUVER, BRITISH COLUMBIA, CANADA – NOVEMBER 30, 2021 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF), a provider of comprehensive government contracting solutions, recently released its third quarter 2021 (“Q3 2021“) financial results for the three and nine months ended September 30, 2021.

The following are highlights of the nine months ended September 30, 2021 (all dollar figures are quoted in Canadian dollars unless otherwise noted)

  • Gross revenues of $84.74 million (an increase of $22.30 million from the same period in 2020)
  • Gross margin of 8.91% for the period
  • Operating expenses relative to total revenue decreased to 8% (as compared to 14% from the same period in 2020)
  • Net income of $1.54 million (an increase of $4.03 million from a net loss in the same period in 2020)
  • Adjusted EBITDA was $5.27 million (an increase of $4.39 million from the same period in 2020)
  • $7.23 million working capital improvement from year-end
  • Cash and cash equivalents of $4.35 million (an increase of $2.72 million from year-end)
  • 39% decrease in liabilities from year-end

A copy of the unaudited condensed consolidated interim financial statements for the nine months ended September 30, 2021, and the associated Management’s Discussion and Analysis (“MD&A”) are available on SEDAR.com under the Company’s profile.

As a reminder, Mission Ready’s annual general meeting of shareholders (the “AGM” or the “Meeting“) will be held virtually via teleconference on Wednesday, December 1, 2021, at 11:00 A.M. PST (2:00 P.M. EST).

Registered shareholders and validly appointed proxyholders may attend the Meeting (conference room #: 448-444-850) by calling:

  • 1 888.299.2873 (Canada toll-free)
  • 1 888.585.9008 (US toll-free)
  • To dial in from any other country, please contact the Company at 604.737.2303 before the Meeting date for dial-in particulars.

Registered shareholders who attend the virtual Meeting will have an equal opportunity to participate at the AGM, regardless of their geographic location.

The AGM will be followed at 11:30 A.M PST (2:30 P.M. EST) by a presentation from President and CEO Buck Marshall, including a live Q&A period where management from Mission Ready will be available to answer questions. Questions can also be submitted prior to the event at MRS-IR@MRSCorp.com.

To register for the event, please visit:

https://us06web.zoom.us/webinar/register/4616372651285/WN_o2cbBU_FRy-OiHgs-FvJUQ

About Mission Ready Solutions Inc.

Mission Ready Solutions provides comprehensive government contracting solutions with extensive experience in delivering quality, reliable, mission-critical products and services for law enforcement, firefighters, first responders, military, and other governmental agencies.

Through its privileged access to a host of federal contracting vehicles, including Multiple Award Schedule (“MAS”) contracts awarded and administered by the United States General Services Administration (“GSA”), Mission Ready’s wholly-owned subsidiary, Unifire, Inc., leverages its robust vendor network, time-proven industry relationships, proprietary technology infrastructure, and industry-leading manufacturing and distribution capabilities to efficiently source and deliver more than 1.5 million products.

For further information on Mission Ready Solutions Inc., please visit MRSCorp.com or contact investor relations by email at MRS-IR@MRSCorp.com or by telephone at +1 877.479.7778 (Ext. 5). You can also subscribe to our mailing list at eepurl.com/hznhX9 to receive our press releases and latest news directly by email.

Mission Ready Solutions Inc.

(Signed “Buck L. Marshall”)

Buck L. Marshall
President, CEO and Director
T: +1 877.479.7778

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Mission Ready Announces Annual General Meeting and CEO Live Event

Buck Marshall to Provide Corporate Update and Answer Questions Live

VANCOUVER, BRITISH COLUMBIA, CANADA – NOVEMBER 24, 2021 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF), a provider of comprehensive government contracting solutions, announces that it will host its annual general meeting of shareholders (the “AGM” or the “Meeting“) virtually via teleconference on Wednesday, December 1, 2021, at 11:00 A.M. PST (2:00 P.M. EST).

Registered shareholders and validly appointed proxyholders may attend the Meeting (conference room #: 448-444-850) by calling:

  • +1 888.299.2873 (Canada toll-free)
  • +1 888.585.9008 (US toll-free)
  • To dial in from any other country, please contact the Company at 604.737.2303 before the Meeting date for dial-in particulars.

Registered shareholders who attend the virtual Meeting will have an equal opportunity to participate at the AGM, regardless of their geographic location.

Voting

Due to the COVID-19 pandemic and issues related to the verification of shareholder identity via teleconference, in-person voting will not be permitted at the Meeting. If you are a registered shareholder and wish to have your vote counted, you will be required to complete, date, sign, and return the accompanying Proxy for use at the Meeting or any adjournment thereof. To be effective, the Proxy must be received by our transfer agent, Endeavor Trust Corporation, no later than 11:00 A.M. PST on Monday, November 29, 2021, or no later than 48 hours (excluding Saturdays, Sundays and holidays) prior to the time to which the Meeting may be adjourned or postponed.

Alternatively, you may vote by email at proxy@endeavortrust.com or online at www.eproxy.ca following the instructions provided on the Proxy and in the Circular.

The Company encourages its shareholders to read the accompanying Circular dated October 22, 2021, along with other AGM materials, for important information with respect to voting, attending, and participating at the Meeting.

The AGM will be followed at 11:30 A.M PST (2:30 P.M. EST) by a presentation from President and CEO Buck Marshall, including a live Q&A period where management from Mission Ready, Unifire, and Protect the Force will be available to answer questions. Questions can also be submitted prior to the event at MRS-IR@MRSCorp.com.

To register for the event, please visit:

https://us06web.zoom.us/webinar/register/4616372651285/WN_o2cbBU_FRy-OiHgs-FvJUQ

About Mission Ready Solutions Inc.

Mission Ready Solutions provides comprehensive government contracting solutions with extensive experience in delivering quality, reliable, mission-critical products and services for law enforcement, firefighters, first responders, military, and other governmental agencies.

Through its privileged access to a host of federal contracting vehicles, including Multiple Award Schedule (“MAS”) contracts awarded and administered by the United States General Services Administration (“GSA”), Mission Ready’s wholly-owned subsidiary, Unifire, Inc., leverages its robust vendor network, time-proven industry relationships, proprietary technology infrastructure, and industry-leading manufacturing and distribution capabilities to efficiently source and deliver more than 1.5 million products.

For further information on Mission Ready Solutions Inc., please visit MRSCorp.com or contact investor relations by email at MRS-IR@MRSCorp.com or by telephone at +1 877.479.7778 (Ext. 5). You can also subscribe to our mailing list at eepurl.com/hznhX9 to receive our press releases and latest news directly by email.

Mission Ready Solutions Inc.

(Signed “Buck L. Marshall”)

Buck L. Marshall
President, CEO and Director
T: +1 877.479.7778

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Mission Ready Newsletter | November 2021 Infrastructure Package and Order of Operations

Fellow Shareholders,

Late Friday evening, U.S. Congress passed a bill containing an infrastructure package with $1.2 trillion to be injected into America’s infrastructure.

But how does this affect your Company? The bipartisan infrastructure package includes, notably, a version of the “Make PPE in America Act” co-sponsored by Senator Rob Portman (R-OH) and Senator Gary Peters (D-MI), to help rebuild a domestic supply chain for PPE production and reshore an industrial base of US PPE manufacturers by guaranteeing long-term federal contracts and expanding Berry Amendment requirements for agencies including the Department of Homeland Security (DHS), Health and Human Services (HHS) and Veterans Affairs (V.A.).

The successful passage of the infrastructure package, scheduled to be signed into law in the coming days, also represents a critical step in our nation’s plan to replenish the Strategic National Stockpile by incentivizing our industrial base to create a robust domestic supply chain, fostering long-term investments to expand existing capabilities and maximize capacities knowing that the government will support those investments in its efforts to reinforce the importance of U.S. Made PPE.

The Company is also confident that through more than $500 billion of new investments in infrastructures, including roads, bridges, water, and energy systems, our demonstrated ability to source and deliver products needed when needed, and our host of government contracting vehicles, including our GSA Schedules with critical schedules such 51V: Hardware Store, Home Improvement Center, or Maintenance, Repairs and Operations (MRO), will enable the Company to position itself favorably as a core provider of products and solutions to support the government and its blueprint to rebuilding America.

Friday also marked the announcement of another important step in the Company’s financial progress, through the negotiation of a debt settlement for liabilities previously accrued pending the outcome of this claim and included as part of the Company’s balance sheet. The team successfully negotiated terms that will allow Unifire to repay the principal amount while minimizing the impact on our cash flow and liquidity and, importantly, retain our ability to invest in the future growth of our operations. In simple terms, amortizing the outstanding principal over 60 months with a maturity of 24 months results in a reasonable monthly payment while allowing us to continue improving our working capital and liquidity ratios. We have structured the arrangement to effectively align the collective interests of the Creditors, the Company and our shareholders by ensuring that the financial prosperity of the Company is accretive to all parties in that the Creditor receives payment as agreed during the term, and the Company and its shareholders receive the economic benefit of moving a portion of short-term payables to long-term, while mitigating the need to issue Company shares in connection with the arrangement.

Though it is not our intention or expectation that any portion of the debt settlement amount be paid in shares of the Company, the equity-based security component serves to provide economic value to both the Creditor and Company by introducing a predetermined and mutually agreeable remedial arrangement in the event of a payment default by the Company.

This last year saw us make great strides in building a financially viable and cash flow positive company, making forward progress by significantly reducing liabilities, building solid relationships with our vendors and partners, and allowing us to secure favorable terms, achievements that result in a foundational fortitude to weather storms and help positively position us for what is coming.

While our primary focus remains Government contracts domestically, we have expanded our ability to generate revenues through non-government agencies, mainly commercial customers and we are actively working on bringing the core products we manufacture in-house, as well as the numerous items through our vendor network, to the retail market. This is another step in our vision to build the foundation on principals of business, diversified revenue streams, and a culture that moves Mission Ready forward. I referenced order of operations when sharing the vision for the Company during my first few months, and each step we take in the correct order will build shareholder value, but it takes time. I am grateful for those who have been with the Company for the long haul, and I am excited as we continue to forge new relationships with both retail and institutional investors.

Sincerely,

(Signed “Buck L. Marshall”)

Buck L. Marshall
President, CEO and Director

For further information on Mission Ready Solutions Inc., visit MRSCorp.com or contact:

Investor Relations
T: 1.877.479.7778 – Ext 5
E: MRS-IR@MRSCorp.com

Forward-Looking Information

This newsletter 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 Solutions 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 Solutions Inc. to be materially different from those expressed or implied by such forward-looking information. 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 Solutions Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.

Mission Ready Announces Proposed Debt Settlement

VANCOUVER, BRITISH COLUMBIA, CANADA – November 5, 2021 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF), a provider of comprehensive government contracting solutions, is pleased to announce that it’s wholly-owned subsidiary, Unifire, Inc. (“Unifire”), has entered into a settlement agreement (the “Settlement Agreement”) with two arm’s length creditors (the “Creditors”) for the payment of a US$7.1 million principal amount outstanding to the Creditors (the “Debt”). The Debt is currently recognized under Trade and Other Payables on the Company’s balance sheet.

Pursuant to the Settlement Agreement, Unifire will pay US$1.0 million within the next 60 days, while the remaining US$6.1 million will be paid by Unifire, in instalments, over the next 24 months. The Unifire Debt will bear interest at the prime rate published in The Wall Street Journal, adjusted quarterly. The Company has agreed to guarantee the obligations of Unifire for payment of the Debt on a limited recourse basis. In the event that Unifire fails to make a payment under the Settlement Agreement (a “Defaulted Payment”), during the period in which the Defaulted Payment, or portion thereof, remains uncured, the Creditor may elect to exercise its right to convert up to the lesser of the aggregate amount of the Defaulted Payment, or the portion thereof then outstanding, into common shares of the Company (the “Shares”) at an agreed conversion price of US$0.183 per Share (the “Debt Conversion”).  The terms of the Debt Conversion are subject to the acceptance of the TSX Venture Exchange.

“We have put a tremendous amount of effort into positioning the Company for financial success by eliminating debt, removing barriers to our ability to obtain traditional financing rates, forging key partnerships within the capital markets, and strategically renegotiating new and existing arrangements,” commented Buck Marshall, President and CEO of Mission Ready. “The execution of this Settlement Agreement represents another positive development for the Company in terms of improving our financial health, increasing liquidity and tightening up the ratios reflected on the balance sheet that are key indicators to our target audience of institutional lenders and investors.”

About Mission Ready Solutions Inc.

Mission Ready specializes in providing comprehensive government contracting solutions through its privileged access to a host of federal contracting vehicles including Multiple Award Schedule (“MAS”) contracts awarded and administered by the United States General Services Administration (“GSA”).

Mission Ready’s wholly-owned subsidiary, Unifire, Inc. (“Unifire”), is a designated Small Business and an industry-leading manufacturer and distributor of over 1.5 million military, fire and first-responder products. With extensive knowledge and experience in providing turnkey solutions to the United States Federal Government, Unifire utilizes its time-proven industry relationships and proprietary technology infrastructure to efficiently source and deliver critical, life-saving products in cooperation with government program managers, military and federal contracting offices, base supply centers, and other federal, state and local supply agencies.

For further information on Mission Ready Solutions Inc., please visit MRSCorp.com or contact investor relations by email at MRS-IR@MRSCorp.com or by telephone at +1 877.479.7778 (Ext. 5). You can also subscribe to our mailing list at eepurl.com/hznhX9 to receive our press releases and latest news directly by email.

Mission Ready Solutions Inc.

(Signed “Buck L. Marshall”)

Buck L. Marshall
President, CEO and Director
T: +1 877.479.7778

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.