VANCOUVER, BRITISH COLUMBIA, CANADA – MAY 20, 2020 – Mission Ready Solutions Inc. (“Mission Ready” or the “Company”) (TSXV: MRS) is pleased to report that it has received CAD $5,500,000 (five million five hundred thousand) in new orders, announce an upcoming investor conference call, and provide an update on the status of its Q4 2019 and Q1 2020 financial statements and related filings.
CAD $5,500,000 Orders
Further to news releases dated April 28, 2020 and May 14, 2020 related to the Company’s response to the COVID-19 pandemic, Mission Ready has received additional purchase orders totaling CAD $5,500,000 from Grand Traverse Economic Development (“GTED”) for the procurement and supply of personal protective equipment (“PPE”) to the Grand Traverse Band of Ottawa and Chippewa Indians, and to the State of New Hampshire. Delivery of the PPE pursuant to the purchase orders is expected to be completed during the third and fourth quarters of 2020, subject to product availability from the manufacturer.
“Working with partners such as GTED gives us the opportunity to better support state-level requirements and directly meet the needs of communities that may otherwise experience delays in receiving critical, live-saving equipment when they need it most,” states Marcus Treiber, Chief Operating Officer of Mission Ready. “In alignment with our targeted drive to further establish strategic relationships within the industry, we are honored to team up with GTED to facilitate these orders and we are excited to forge a longstanding partnership through which we will leverage our combined connections and abilities to capture additional opportunities going forward.”
Investor Conference Call
The Company will host an investor conference call (“Investor Call”) on Tuesday, May 26, 2020 at 2:00 PM ET.
During the Investor Call, management will provide a summary of the Company’s current initiatives and short-term objectives followed by a question and answer period (“Q&A”) whereby management will respond to common enquiries received by the Company from current and prospective shareholders. Participants are invited to email enquiries or suggested discussion points to be addressed during the Q&A – to be received no later than 5:00 PM ET on Friday, May 22, 2020 – to IR@MRSCorp.com.
Join by Phone (Conference Call)
Toll Free: 1.833.557.0549
Conference ID / Event Passcode: 6473089
Join by Computer (Webcast)
Registration Link: https://onlinexperiences.com/Launch/QReg/ShowUUID=959E1A59-9C29-45A3-9B5A-6B38486462DF
A link to the call audio will be made available at www.MRSCorp.com following the Investor Call.
Q4 2019 Annual Filings
Mission Ready announces that, further to its news release dated April 28, 2020, the Company continues to work diligently with its auditors to file its audited financial statements for the year ended December 31, 2019 (the “Annual Filings”) by June 15, 2020 pursuant to a 45-day extension for certain periodic filings, as announced by the Canadian Securities Administrators on March 18, 2020. The Company is relying on the temporary exemption pursuant to BC Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515”).
Q1 2020 Interim Filings
The Company will also be relying on the temporary exemption pursuant to BCI 51-515 in respect to the following provisions:
- the requirement to file interim financial statements for the three months ended March 31, 2020 (the “Financial Statements”) within 60 days after the end of the Company’s interim period as required by section 4.4(b) of National Instrument 51-102 Continuous Disclosure (“NI 51-102”);
- the requirement to file management discussion and analysis (the “MD&A”) for the period covered by the Financial Statements within 60 days after the end of the Company’s interim period as required by section 5.1(2) of NI 51-102; and
- the requirement to file certifications of the Financial Statements (the “Certificates” and together with the Financial Statements, the “Interim Filings”) pursuant to section 5.1 of National Instrument 52-109 Certification of Disclosure in Issuer’s Annual and Interim Filings and section 4.4(b) of NI 51-102.
The Company is continuing to work diligently to file the Interim Filings by July 17, 2020.
The Company confirms that there have been no material developments, other than those disclosed through news releases, since the filing of its condensed interim consolidated financial statements for the period ended September 30, 2019.
Additionally, the Company advises that management and other insiders of the Company are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
Monetary values referenced herein which relate to contract awards have been rounded down to the nearest million after being converted from US currency (USD) to Canadian currency (CAD) using an exchange rate of 1.40.
About Grand Traverse Economic Development
Wholly-owned by the Grand Traverse Band of Ottawa and Chippewa Indians, GTED is the commercial investment entity that provides a consistent, supportive, and structured management platform in order to best support our subsidiary companies.
The GTB’s casino profits are strong, but threat of increased competition for gaming customers has existed for years, and the GTB’s tribal leaders are excited to move away from a budget that’s dependent on the rise and fall of the gaming industry. Through GTED, the tribe can leverage their SBA Tribal 8 (a) pending certification to compete for government contracts, explore different revenue vehicles and expand profits. GTED is empowered by separating tribal politics from day-to-day business and subsidiary management. GTED will increase the prosperity of current and future generations by introducing a depth of new knowledge, expanding fiscal opportunities, challenging assumptions and proposing change.
About Mission Ready Solutions Inc.
Mission Ready specializes in providing comprehensive government contracting solutions through its privileged access to a host of government contracting vehicles including its Special Operational Equipment (“SOE”) Tailored Logistics Support (“TLS”) contract administered by the United States Defense Logistics Agency (“DLA”), and Multiple Award Schedule contracts administered by the United States General Services Administration (“GSA”).
Mission Ready’s wholly-owned subsidiary, Unifire, Inc. (“Unifire”), is one of six companies, globally, authorized to provide equipment and designated services under DLA’s SOE TLS program. Unifire is a designated Small Business and an industry-leading manufacturer and distributor of over 1.5 million fire, military, emergency, and law enforcement products. As an incumbent awardee of the SOE TLS contract, with extensive knowledge and experience in providing solutions to the US Federal Government, Unifire utilizes its highly-efficient, scalable technology infrastructure to provide procurement solutions for program managers, military and federal contracting offices, base supply centers, and other governmental supply agencies.
Mission Ready trades on the TSX Venture Exchange under the symbol MRS.
For further information, visit MRSCorp.com or contact:
T: 1.877.479.7778 – Ext 5
Mission Ready Solutions Inc.
(signed “Jeffery L. Schwartz”)
Jeffery L. Schwartz,
President & CEO
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.
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.