Mission Ready Closes $4M Private Placement

Mission Ready Services Inc. (MRS: TSX-V), (“Mission Ready” or the “Company”) is pleased to announce the closing of a $4 million private placement offering as announced September 19, 2014 and September 24, 2014 of Units of the Company at an issue price of $0.25 per Unit, each Unit consisting of (a) one common share of the Company (a “Share” or “Shares”), and (b) one half share purchase warrant (a “Warrant”) of the Company (a “Unit” or “Units”).  Each full Warrant shall entitle the holder thereof to acquire one additional Share (a “Warrant Share” or “Warrant Shares”) at an exercise price of $0.50 per Warrant Share and expiring on September 30, 2017.  At such time the Company’s weighted average share price for 10 consecutive trading days equals or exceeds $1.00, the Company may give notice to the Warrant holders that they must exercise their remaining Warrants within a period of 30-days from the deemed date of receipt of the notice. Any Warrants remaining unexercised after the expiration of the 30-day notice period will be cancelled and will thereafter be of no force or effect.

The closing of 16,000,000 Units closed on October 03, 2014 and are restricted for resale until February 04, 2015.  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 pursuant to the applicable securities laws.

In consideration, finders were paid a net of 4.8% of the financing with a cash commission of $194,715, and 769,860 broker warrants.  Each warrant shall entitle the holder thereof to acquire one additional share at a price of $0.50 per share expiring on September 30, 2017 and carry the same terms as mentioned above.

Business of the Company

MRSI was formed to meet a critical need of one of the world’s largest customers, the US Government and in particular the Departments of Defence, Homeland Security and Justice and various other agencies such as law enforcement, first responders and the many others worldwide that help to safeguard our health and security.

MRSI’s mission is 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.

MRSI’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.

Headquartered in Vancouver, BC, MRSI has three distinct, synergistic operating divisions:

  • Strategic consulting services and manufacturers representation
  • Equipment inspection, cleaning/decontamination and repair services of personal protection equipment
  • Product research and development

For further information, visit the Company’s website at www.missionready.ca or contact:

Terry Nixon, Director, Corporate Communications

Investor Relations


Mission Ready Services Inc.

(signed “Rod Reum”)

Rod Reum,
President & CEO

This news release may contain “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.

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