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 OrdersFurther 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 CallThe
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 |
International: |
1.647.253.8712 |
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 FilingsMission
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 FilingsThe
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
DevelopmentWholly-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:
Investor Relations
T: 1.877.479.7778 – Ext 5E: IR@MRSCorp.com
Mission Ready Solutions
Inc.
(signed “Jeffery L. Schwartz”)
Jeffery L. Schwartz,President & CEOT:
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 InformationThis
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.
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