/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE
SECURITIES DESCRIBED HEREIN/
VANCOUVER, BC, Dec. 19,
2022 /CNW/ - Mission Ready Solutions Inc.
("Mission Ready" or the "Company") (TSXV: MRS)
(OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government
contracting solutions, announces that, it has closed the first
tranche of its non-brokered private placement (the "Private
Placement"), issuing an aggregate of 10,957,875 units (each
a "Unit") at a price of $0.08
per Unit, raising gross proceeds of $876,630.
Each Unit consists of one common share (a "Share") of the
Company and one transferable common share purchase warrant (a
"Warrant"). Each Warrant entitles the holder to purchase one
additional Share of the Company at a price of $0.15 per Share for a period of three (3) years
from the date of closing of the Private Placement.
The net proceeds of the Private Placement will be used for
ongoing activities and general corporate purposes.
Buck L. Marshall, the President,
CEO and a director of the Company, purchased 1,250,000 Units;
Terrace L. Nixon, the Chief Compliance Officer and a director of
the Company, purchased 1,600,000 Units; James Marks, Chairman of the Company, purchased
751,035 Units; Dong H. Shim, the CFO
of the Company, purchased 300,000 Units through his company, Golden
Tree Capital Corp.; Paul Litchfield,
a director of the Company, purchased 460,000 Units; and
Daniel Raczykowski, a director of
the Company, purchased 456,840 Units in the Private Placement.
As a result, the Private Placement is considered a related party
transaction (as defined under Multilateral Instrument 61-101
Protection of Minority Security Holders in Special Transactions
("MI 61-101")). The Company is relying on section 5.5(a) and
5.7(a) as neither the fair market value of the subject matter of,
nor the fair market value of the consideration for, the Private
Placement will exceed 25 percent of the Company's market
capitalization (calculated in accordance with MI 61-101).
No finder's fees were paid in connection with the closing of the
first tranche of the Private Placement. All securities issued in
the Private Placement are subject to the TSX Venture Exchange (the
"Exchange") hold period plus a hold period of four months
and one day expiring on April 17,
2023.
The Company also announces that it has obtained a 30-day
extension from the Exchange to close the final tranche of the
Private Placement. The final closing of the Private Placement is
expected to occur in January 2023 and
remains subject to the approval of the Exchange.
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
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.
The securities referred to in this news release have not
been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or
for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption from the U.S. registration
requirements.
This news release does not constitute an offer for sale of
securities for sale, nor a solicitation for offers to buy any
securities. Any public offering of securities in the United States must be made by means of a
prospectus containing detailed information about the company and
management, as well as financial statements.
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.
SOURCE Mission Ready Solutions Inc.
