Mission Ready Reports Q1 2022 Financial Results

CEO to Host Live Event with Q&A on Thursday, June 2, 2022

VANCOUVER, BRITISH COLUMBIA, CANADA – MAY 31, 2022 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, recently released its first quarter 2022 (“Q1 2022”) financial results for the three months ended March 31, 2022.

The following are highlights for Q1 2022 (all dollar figures are quoted in Canadian currency unless otherwise specified):

  • Gross revenues of $1.07 million
  • Gross margin of 49% for the period
  • 68% decrease in liabilities from the same period in 2021
  • Net income of $0.28 million
  • Adjusted EBITDA was $0.95 million
  • $2.59 million working capital (a decrease mainly due to cash payments related to the debt settlement agreement with Product Sources Group, LLC and JD. United Manufacturing Co. Ltd)

A copy of the unaudited condensed consolidated interim financial statements for Q1 2022 and the associated Management’s Discussion and Analysis (“MD&A”) are available on SEDAR.com under the Company’s profile.

Buck Marshall, President and CEO of Mission Ready, will host a live Q&A period on Thursday, June 2, 2022, at 11:00 AM ET (8:00 AM PT), 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/6916539595893/WN_N2YYQN1eR4mSRNJnuqQoDQ

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, 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.
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

Investor Relations Contact:

Dominic Gray
MRS-IR@MRSCorp.com
T: +1 877.479.7778 (Ext.5)

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.

Forward-Looking Information

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 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 Supports Humanitarian Efforts for Ukraine

Sources IFAKs for Support Hospitals in Ukraine

VANCOUVER, BRITISH COLUMBIA, CANADA – May 25, 2022 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, announces that, in collaboration with its networks of vendors, the Company is actively fulfilling orders to ship needed tactical medical supplies to Support Hospitals in Ukraine, a non-profit organization currently focusing on delivering tactical medicine, field surgery kits and trauma supplies as a result of Russia’s war on Ukraine.

The Company has successfully sourced within its network a sustainable flow of Individual First Aid Kits (IFAKs) from The Resource Center that will be delivered to the Ukrainian Ground Forces in eastern Ukraine. From there, the IFAKs will be delivered to combat medics on the frontline to respond to the growing need.

“With healthcare workers and facilities directly targeted as part of current Russian warfare tactics, Support Hospitals in Ukraine work is essential to ensure that Ukrainians on the front lines are able to receive medical care and attention,” said Buck Marshall, President and CEO of Mission Ready. “The team of Support Hospitals in Ukraine had to change their focus to respond to the emergency, and we immediately responded to their call for support. With the help of our established network of vendors, we were able to source and provide their organization with much-needed items currently in high demand over the world.”

“The war in Ukraine has created a tremendous amount of pressure on a structure that was already fragile,” said Pasha Fedorenko, Co-Founder of Support Hospitals in Ukraine. “With their demonstrated crisis response capabilities along with their ability to secure virtually anything needed, Mission Ready has allowed us to provide people on the frontline with a continued flow of essential items.”

About Support Hospitals in Ukraine

Support Hospitals in Ukraine has been delivering humanitarian medical aid to Ukraine since 2014. In order to address the critical needs resulting from Russia’s war on Ukraine, Support Hospitals in Ukraine has shifted its focus to providing tactical medicine and field surgery supplies. When the war is over, Support Hospitals in Ukraine will continue providing medical equipment and supplies to the hospitals in Ukraine to rebuild the country. For more information, visit www.uahospitals.org.

To directly support their efforts to deliver modern medical equipment & supplies, visit www.uahospitals.org/donate (all donations are tax-deductible in the USA).

About The Resource Center

The Resource Center operates manufacturing facilities in Jamestown and Dunkirk, NY, that provide employment and work training opportunities for people with disabilities.

The Resource Center performs subcontracting work for the United States government and has produced items for the U.S. military for more than 40 years. Involved in several high-profile initiatives over the years, the workers at The Resource Center started producing Individual First Aid Kits in 2003 that were given to every U.S. Marine who crossed into Iraq at the start of the Gulf War. The Resource Center has also supported international relief efforts, notably providing water-purification tablets to tsunami survivors and donating mosquito netting to Africa.

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, 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.
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

 

Investor Relations Contact:

Dominic Gray
MRS-IR@MRSCorp.com
T: +1 877.479.7778 (Ext.5)

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.

Forward-Looking Information

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 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 Highlights 2021 Financial Results

VANCOUVER, BRITISH COLUMBIA, CANADA – MAY 3, 2022 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, recently released its 2021 audited consolidated financial statements for the year ended December 31, 2021 (“FY 2021“).

The following are highlights for FY 2021 (all dollar figures are quoted in Canadian currency unless otherwise specified):

  • Gross revenues of $91.99 million
  • Gross margin of 8.80% for the year
  • 26% decrease in liabilities from previous year
  • Cash and cash equivalents of $7.89 million (an increase of $6.26 million from the same period in 2020)
  • Net loss of $0.74 million (a decrease of $0.60 million from a net loss of $1.34 million in the same period in 2020)
  • Operating expenses relative to total revenue decreased to 10.32% (as compared to 10.56% for the same period in 2020)
  • Adjusted EBITDA was $4.50 million (an increase of $1.71 million from the same period in 2020)
  • $20.99 million working capital improvement from previous year

A copy of the audited consolidated financial statements for the year ended December 31, 2021, and the associated Management’s Discussion and Analysis (“MD&A“) are available on SEDAR.com under the Company’s profile and on Mission Ready’s website.

“Our ongoing efforts to source products to respond to the current global crises along with our demonstrated ability to identify and deliver high-quality products and solutions have opened up opportunities for our Company to showcase itself on a larger level,” said Buck Marshall, President and CEO of Mission Ready. “Our recent visit to New York allowed us to showcase the breadth of our offering, our capacity to identify leading technologies and how they could become game-changers for the world’s largest police force.”

Marshall continued, “During the coming weeks, our priority will be to keep that momentum and continue to put Mission Ready at the forefront. We will be meeting with United Nations and Ukrainian representatives to showcase our capabilities while working on securing relationships that could give us a competitive advantage. We are confident that this strategic catalyst-driven approach will help us bring those imminent events to fruition while continuing to create opportunities. As a result, the Company’s management team will be hosting the earnings call typically associated with filing its yearly financials immediately after filing its Q1 2022 financial statements.”

“Upon joining Mission Ready, one of my priorities was to implement communication channels independent of the Company’s disclosure obligations. As a result, we have participated in investor conferences and hosted live events throughout the months to address shareholders’ questions and allow them to witness the management team’s progress. Through upcoming earnings and investor calls, I intend to pursue the efforts to foster a positive relationship and open channels with shareholders and investors,” concluded Marshall.

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, 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.
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

 

Investor Relations Contact:

Dominic Gray
MRS-IR@MRSCorp.com
T: +1 877.479.7778 (Ext.5)

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.

Forward-Looking Information

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 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.

Unifire, Inc. and NuGen M.D. enter into Master Distribution and Marketing Agreement for Leading-Edge Needle-Free Injection Device

Unifire to Focus on Distribution to Government Agencies and Humanitarian Efforts

VANCOUVER, BRITISH COLUMBIA, CANADA – MARCH 22, 2022 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, is pleased to announce that, through its wholly-owned subsidiary, Unifire, Inc. (“Unifire“), the Company has entered into a Master Distribution and Marketing Agreement (the “Agreement“) with NuGen M.D. (TSX-V: NGMD) (“NuGen“), an emerging specialty medical device company focused on developing and commercializing novel drug delivery technologies.

As part of the Agreement, Unifire has been granted exclusive rights to sell NuGen’s needle-free injection device InsuJet™ into various US Government agencies and non-exclusive rights to sell into  Government agencies in Israel and Australia. Unifire will act as NuGen’s Master Distributor in the United States with an immediate focus on opportunities within the Department of Defense (DoD), Biomedical Advanced Research and Development Authority (BARDA), Defense Advanced Research Projects Agency (DARPA), Veterans Affairs (VA), Department of Homeland Security (DHS) and Health and Human Services (HHS).

NuGen InsuJet™ needleless injection system is a revolutionary needle-free way to inject medication or vaccines and:

  • Provides faster absorption of medicine than hypodermic needles
  • Reduces fear and anxiety associated with hypodermic needles
  • Eliminates needlestick injuries
  • Reduces the risk of cross-contamination and infections
  • Reduces cost burdens on the health care system
  • Reduces cost for patients
  • Reduces biohazard waste

“We are thrilled to have Unifire join our worldwide network of distributors with their deep understanding of the government contracting space, proven relationships, and track record of execution,” stated Michael Wright, CEO of NuGen. “Unifire will support NuGen in carrying out its expansion strategy in the US market by focusing on gaining acceptance for InsuJet™ as a safe, reliable and cost-effective replacement solution for current medication injection standard within Unifire’s well-established clientele of government agencies.”

Unifire will collaborate with NuGen to seek regulatory approval, garner political support, introduce non-dilutive government funding, while advising on the necessary manufacturing and supply chain requirements to be eligible to submit to government RFPs.

“A device with the demonstrated ability to safely, rapidly and effectively deliver critical medication has the potential to create a paradigm shift in the current standard of care in place within government agencies,” said Douglas Bryce, Advisory Committee member for Mission Ready and subject matter expert on development, acquisition, distribution, and deployment of Chemical, Biological, Radiological, and Nuclear (CBRN) defense devices and medical diagnostic systems, drugs and vaccines. “I strongly believe there are significant opportunities to deploy new and disruptive solutions within the Department of Defense, government-operated medical facilities, and their adoption into Tactical Combat Casualty Care.”

Jointly, the Companies will focus on opportunities within:

  • Immediate Humanitarian Efforts to Provide Safe Access to Insulin treatments
  • Global Vaccination Efforts
  • Biomedical Advanced Research and Development Authority (BARDA)
  • Defense Advanced Research Projects Agency (DARPA)
  • Veterans Affairs (VA) for acceptance to support healthcare requirements
  • DoD or government agencies with medical facilities
  • Inclusion in Tactical Combat Casualty Care (TCCC)

Dan Raczykowski, Chief Operating Officer of Unifire, added, “Unifire prides itself in delivering best-in-class technologies that can provide solutions to critical needs. NuGen’s needle-free device, with its regulatory approval in more than 40 countries, could open new opportunities within our network, particularly in these times of need for humanitarian relief where access to life-saving medication represents a logistical challenge for certain populations. We are excited to join NuGen’s global distributor list while supporting their team on their path towards US regulatory approval.”

About the InsuJet™

The InsuJet™ is a revolutionary needle-free drug delivery device used to self-administer medication in a safe, fear-free, and virtually pain-free manner and is now approved for use in over 40 countries globally.

About NuGen Medical Devices

NuGen Medical Devices’ principal business is the development and commercialization of innovative needle-free injection devices and systems for subcutaneous medication administration.

It is developing products using needle-free drug delivery technology in several important fields including, but not limited to, anaphylaxis, diabetes, severe migraine, erectile dysfunction, chronic anemia, neutropenia, autoimmune rheumatoid arthritis, growth and fertility hormone, psoriasis as well as DNA and conventional/pediatric vaccines.

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, 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.
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

Investor Relations Contact:

Dominic Gray
MRS-IR@MRSCorp.com
T: +1 877.479.7778 (Ext.5)

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.

Forward-Looking Information

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 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 Closing of Shares for Debt Transaction

VANCOUVER, BRITISH COLUMBIA, CANADA – FEBRUARY 8, 2022 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, is pleased to announce that the Company has completed the shares for debt transaction first announced in a news release dated January 20, 2022 (the “SFD Arrangement“) to settle an aggregate of C$1,258,549.60 in trades payable.

Following receipt of final acceptance from the TSX Venture Exchange (the “TSXV“) in connection with the SFD Arrangement, the Company issued 3,595,856 common shares of the Company (each common share, a “Share“) at a deemed price of $0.35 per Share (the “Settlement Shares“). The Settlement Shares are subject to a statutory hold period expiring four months and one day from the date of issuance.

Pursuant to the SFD Arrangement, Product Source Group, LLC. (“PSG LLC“) and J.D. United Manufacturing Co. Ltd. (“JDUMC LTD“) (PSG LLC and JDUMC LTD together, “PSG“) agreed to receive the Settlement Shares in satisfaction of C$1,258,549.60 (US$1,000,000) of the outstanding balance payable by the Company to the Creditor.

“We are sincerely grateful for our partnership with PSG and the trust-based interpersonal relationships that have been cultivated over the past several months. Both the Company and PSG have been aligned with a mutual belief that a resolution would be reached and any historical differences would quickly fade into the background relative to the vastness of the opportunities we hope to capture together,” said Buck Marshall, President and CEO of Mission Ready. Marshall continued, “This arrangement further strengthens our financial position by reducing our outstanding debt and, as a result, our monthly payment obligations. Additionally, the arrangement improves the Company’s balance sheet ratios by correctly positioning a significant portion of our outstanding liabilities from short-term to long-term. Importantly, this arrangement serves to further align the interests of the partnership, the Company, and our shareholders as a result of PSG’s newly-acquired equity position in Mission Ready.”

  MRS-PSG Partnership | History & Timeline
Q2 2020 PSG Engagement – Company partners with PSG to help facilitate supply and delivery of personal protective equipment (“PPE“) in connection with an anticipated contract award (the “FEMA Contract“) from the US Department of Homeland Security (“DHS“) Federal Emergency Management Agency (“FEMA“). FEMA Award – Company awarded FEMA Contract. CLICK HERE to view the related release. Receipt of Purchase Orders – Company receives two individual purchase orders from DHS (“PO 1” and “PO 2“, respectively), calling for delivery of 1,000,000 pieces of PPE each (aggregate quantity of 2,000,000), valued at approximately US$14 million, and authorizes PSG to commence fulfillment.
Q3 2020 Fulfillment of PO 1 – PSG completes fulfillment of PO 1 and Mission Ready remits payment to PSG as agreed.
Q4 2020 Fulfillment of PO 2 – Unforeseen issues arise during the fulfillment of PO 2, which result in a subsequent dispute between the Company and PSG in connection with each party’s obligations pursuant to the terms of the engagement (the “Dispute“). Filing of Claim – PSG files a claim against Unifire in New York Supreme Court, Monroe County alleging failure to pay.
Q1-Q3 2021 Settlement Discussions – The Company disputes PSG’s claim and the parties engage in settlement negotiations, working cooperatively to find an amicable and mutually beneficial resolution.
Q4 2021 Debt Settlement Arrangement – Company and PSG enter into a debt settlement arrangement whereby the principal balance payable1 by the Company to PSG is reduced from approximately US$7.5 million to approximately US$6 million (the “Discounted Settlement Amount“), subject to certain conditions. CLICK HERE to view the related news release. US$6 million Loan from Northwest Bank – Company secures a loan from Northwest Bank of Coeur d’Alene, Idaho to facilitate its payment of US$6 million1 to PSG on or before March 30, 2022 pursuant to the terms of the discount provision of the Settlement Agreement. CLICK HERE to view the related news release. US$1 million Initial Payment – Company remits an initial payment of US$1 million to PSG in accordance with the terms of the discount provision of the Settlement Agreement, thereby reducing the balance of the Discounted Settlement Amount to US$5 million.
Q1 2022 Shares for Debt Arrangement – Further to the Settlement Agreement, PSG agrees to accept 3,595,856 common shares of the Company (the “Shares“), at a deemed price of C$0.35 per Share, in satisfaction of US$1 million of the outstanding balance payable by the Company to PSG, thereby further reducing the balance of the Discounted Settlement Amount to US$4 million1. CLICK HERE to view the related news release. Additional Cash Payment of US$4 million – Company remits payment, in cash, of the remaining US$4 million1 outstanding, thereby capturing the maximum negotiated discount pursuant to the Settlement Agreement, and fully extinguishing the outstanding balance outstanding to PSG.
  (1) Plus accrued but unpaid interest.

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, 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.

Forward-Looking Information

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 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 Solutions to Present at OTC Markets Small Cap Growth Virtual Investor Conference

Live Webcast at VirtualInvestorConferences.com

 

VANCOUVER, BRITISH COLUMBIA, CANADA – JANUARY 26, 2022 – Mission Ready Solutions Inc. (“Mission Ready” or the “Company”) (OTCQX: MSNVF) (TSX-V: MRS)(FSE: 2R4), a provider of comprehensive government contracting solutions, today announced that Buck Marshall, President and CEO of Mission Ready will present live at OTC Markets Small Cap Growth Virtual Investor Conference on February 2, 2022. Mr. Marshall will provide a corporate presentation including recent Company highlights and upcoming catalysts.

 

The Company invites individual and institutional investors, as well as advisors and analysts, to attend the real-time, interactive presentation on VirtualInvestorConferences.com.

 

 

DATE: February 2, 2022

TIME: 12:30 PM ET (9:30 AM PT)

LINK: https://bit.ly/3Fpq8Mn

 

Recent Company Highlights

 

  • COTS – Shelter Systems Contract Valued at up to $200 Million
    • Indefinite delivery, indefinite quantity (“IDIQ”) contract to facilitate the delivery of products through the Company’s vendor network in support of the United States Defense Logistics Agency (“DLA”) Troop Support Clothing & Textiles (“C&T”) supply chain
  • Blanket Purchase Agreement (BPA) Award for Support of Afghan Refugees
    • Provide the DLA with commercial commodities used for housing, including blankets, pillows, sheets, and sets of those items
  • Extension of Cold Weather BPA
    • 3-year extension to a previously-awarded BPA for the procurement and supply of cold weather equipment

This interactive online event will be live, and we welcome investors to ask the Company questions in real-time. For those unable to join the live event, an archived webcast will subsequently be made available after the event at https://bit.ly/3Fpq8Mn.

 

We recommend that investors pre-register and run the online system check to expedite participation and receive event updates.

 

Learn more about the event at https://www.virtualinvestorconferences.com/.

 

 

About Mission Ready Solutions

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, 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.

 

 

About Virtual Investor Conferences®

 Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

 

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access.  Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

 

 

CONTACTS:

Mission Ready Solutions Inc.

Dominic Gray

Director of Corporate Communications

+ 1 (877) 479.7778 Ext. 5

MRS-IR@MRSCorp.com

 

Virtual Investor Conferences

John M. Viglotti

SVP Corporate Services, Investor Access

OTC Markets Group

(212) 220-2221

johnv@otcmarkets.com

 

Mission Ready Announces Debt Settlement

VANCOUVER, BRITISH COLUMBIA, CANADA – JANUARY 20, 2022 – Mission Ready Solutions Inc (“Mission Ready” or the “Company“) (TSX-V: MRS) (OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, is pleased to announce that, subject to the approval of the TSX Venture Exchange, Product Source Group, LLC of Rochester, New York (the “Creditor“) has agreed to accept 3,595,856 common shares of the Company (the “Shares“) at a deemed price of $0.35 per Share in satisfaction of CAD $1,258,549.60 (USD $1,000,000) of the outstanding balance payable by the Company to the Creditor (the “Shares for Debt Arrangement“). The Shares issued pursuant to the Shares for Debt Arrangement will be subject to a statutory hold period expiring four months and one day from the date of issuance.

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, 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 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.

Forward-Looking Information

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 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 Secures USD $6,000,000 Loan from Northwest Bank

VANCOUVER, BRITISH COLUMBIA, CANADA – DECEMBER 31, 2021 – Mission Ready Solutions Inc (“Mission Ready“) (TSX-V: MRS) (OTCQX: MSNVF), a provider of comprehensive government contracting solutions is pleased to announce that it has been approved for a $6,000,000 loan (the “Loan”) from Northwest Bank of Coeur d’Alene, Idaho (an Idaho-chartered bank owned by Western Capital Corporation) (the “Lender”) to facilitate payment of certain amounts currently recognized on the Company’s balance sheet under Trade and Other Payables.

Pursuant to the terms of the Loan, the Company has agreed to pay the Lender an aggregate of $87,651.33 per month which represents installments of principal and interest, commencing on February 1, 2022 and ending on January 1, 2027 (the maturity date), at which time all sums owing pursuant to the Loan shall become fully due and payable.  The interest payable on the Loan shall be the Index Rate of the Lender (3.25% per annum as of the effective date of the Loan documents), plus 2.75%, which is subject to adjustment from time to time based on changes in an independent index, being the Wall Street Journal Prime Rate. Other fees and conditions include an administration fee of 1.5% of the principal amount of the Loan, and a pledge of cash collateral whereby the Company shall maintain a minimum balance of not less than $800,000 in a reserve account (the “Reserve Account”) to which Lender shall be granted a security interest during the term of Loan. Upon full repayment of the Loan, any remaining funds in the Reserve Account (the balance of funds that were not previously applied to the Loan, as applicable) shall be released to the Company.

Unless otherwise stated, all monetary values referenced herein are in United States Dollars.

About Northwest Bank

Northwest Bank was started in Boise, Idaho, in March 2008. Northwest Bank focuses on serving small and medium sized companies, professionals, and non-profit organizations from branch locations in Idaho, Oregon, Washington and Utah. Northwest Bank is owned by Western Capital Corporation, a bank holding company, and is chartered in Idaho.

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, 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.

Forward-Looking Information

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 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.

December 2021 Newsletter

Mission Ready Awarded US DLA Contract Valued at up to $200 Million

  • Contract Description: Indefinite delivery, indefinite quantity (“IDIQ“) contract to facilitate the delivery of products through the Company’s vendor network in support of the United States Defense Logistics Agency (“DLA“) Troop Support Clothing & Textiles (“C&T“) supply chain
  • Contract Value: Up to USD $200,000,000 (the “Ceiling“)
  • Product Description: Commercial off-the-shelf (“COTS“) Shelter Systems
  • Performance Period: Initial 1-year base ordering period (Dec. 2/21 through Dec. 1/22) and three 1-year option periods (the “Term“)

VANCOUVER, BRITISH COLUMBIA, CANADA – DECEMBER 3, 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, through its wholly-owned subsidiary, Unifire, Inc. (“Unifire“), the Company has been awarded a contract for COTS – Shelter Systems (SPE1C1-22-D-1506) (the “COTS Contract“) in support of the DLA C&T supply chain, with a Ceiling of USD $200,000,000 (CAD $256,000,000 using a USD-CAD exchange rate of 1.28) over the Term of the Contract.

“We proudly welcome this contract award and the opportunity to provide additional support to the DLA in their efforts to source quality items,” said Skip Church, President of Unifire. “This contract reinforces Unifire’s ability to respond to the demand and to bid accordingly while highlighting our robust network of product manufacturers and vendor partners.”

“The team at Unifire has put a tremendous amount of time and energy into this solicitation, having been in active discussions since May 2020, and we are extremely pleased to see their efforts coming to fruition,” said Buck Marshall, President and CEO of Mission Ready. “As we continue to advance, we are confident that our vision and ambitious strategy will successfully position the Company for growth and allow us to further build shareholder value that will reflect in the coming quarters.”

 

DLA COTS – Shelter Systems Program (the “Program”)

 The COTS – Shelter Systems program is a multiple-award, prime vendor contract, that is structured to accommodate the addition of products through the life of the contract. The Program’s supply chain, at present, offers military tents, parts, and support equipment.

 

COTS Contract Terms

The IDIQ contract – with an initial 1-year base ordering period and three 1-year option periods – calls for the supply of COTS – Shelter Systems in support of the United States DLA Troop Support Clothing & Textiles supply chain, and specifies a maximum dollar value of USD $200,000,000.

 

The COTS Contract follows the Company’s May 2, 2020 response to Solicitation number: SPE1C1-18-R-0003.

 

IDIQ Contracts

In U.S. Federal government contracting, an IDIQ is a type of contract that provides for an indefinite quantity of supplies or services during a fixed period of time. IDIQ’s are also sometimes called “Task Orders” or “Delivery Order Contracts.”

 

Gross Margins, Anticipated Revenue and Accounting Treatment

Pursuant to U.S. Generally Accepted Accounting Principles (GAAP), revenues generated through the COTS Contract, as applicable, will not be finalized until the transaction relative to each purchase order has been completed. Consequently, revenues may be reported on a gross or net basis and some portion(s) may be deferred to future accounting periods. The gross margin on revenues generated pursuant to the COTS Contract is not expected to differ materially from the Company’s historical gross margins relative to its government contracting operations.

 

Due to the nature of IDIQ contracts generally, the Company is unable to estimate with any degree of certainty, the frequency, volume or value of purchase orders (also referred to as delivery orders) it may or may not receive in relation to the COTS Contract during the initial 1-year term or any extension thereof.

 

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, 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.

Forward-Looking Information

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 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.

December 2021 Newsletter

Mission Ready Provides AGM Results and Outlines Upcoming Catalysts in Live Event

VANCOUVER, BRITISH COLUMBIA, CANADA – DECEMBER 2, 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 report that shareholders approved all resolutions brought before them at the Company’s 2021 Annual General Shareholders’ Meeting (the “Meeting” or “AGM”) held by telephone conference on December 1, 2021. The Meeting was called for the following purposes:

  1. To receive the audited financial statements of the Company for the financial year ended December 31, 2020, the auditor’s report thereon and the management’s discussion and analysis for the financial year ended December 31, 2020;
  2. To fix the number of directors for the ensuing year at six (6);
  3. To elect directors of the Company for the ensuing year;
  4. To appoint Fruci & Associates II, PLLC, as auditor of the Company for the ensuing year and to authorize the board of directors to fix the auditor’s remuneration; and
  5. To transact such other business as may properly come before the Meeting or at any adjournment thereof.

Further details on the foregoing resolutions are set out in the Meeting Information Circular dated October 22, 2021, and mailed to the Company’s shareholders of record on November 5, 2021.

“I would like to extend my sincere appreciation to our loyal shareholders for their continued support,” said Terry Nixon, Chief Compliance Officer and a Director of Mission Ready. “This support has been the cornerstone – a truly vital component – of the sweeping and tenable corporate revitalization brought about by our outstanding team within the past 14 months. Q3 2020 marked the beginning of a palpable paradigm shift within the Company, evidenced by vast improvements in a multitude of areas, including the Company’s financial position, corporate image, employee morale, government and industry relations, agility and scalability, to name a few.”

Following the Meeting, Buck Marshall, President and CEO of Mission Ready, provided a corporate update and answered shareholders’ questions through a live event. A recording of the live event and an updated corporate presentation are available on the Company’s website at MRSCorp.com.

“We have purposefully positioned the Company for growth by leveraging our existing contract vehicles and working diligently to acquire additional contract vehicles (and awards thereon) while building layered revenue streams. We expect to have our E-Commerce platform fully operational with over 20,000 new items by the end of this year,” highlighted Marshall. “This new platform will allow us to showcase our in-house products along with vendors’ products in a unique, virtual location that will now be accessible to retail consumers.”

Marshall continued, “We recently submitted a proposal in relation to the Veterans Affairs (VA) GSA Schedule, which would complement and represent a welcome addition to our portfolio of existing Schedules.”

For more information on the United States General Services Administration (“GSA”) and the GSA Schedule, visit https://www.gsa.gov/buying-selling/purchasing-programs/gsa-schedule.

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, 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.

Forward-Looking Information

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 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.