Mission Ready Provides Shareholder Update
VANCOUVER, British Columbia, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Mission Ready Solutions Inc. ("Mission Ready" or the "Company") (TSXV:MRS) is pleased to provide an update on recent Company developments including the status of the proposed acquisition of Unifire, Inc. ("Unifire"), the halt trade status of the Company's shares on the TSX Venture Exchange and the Company's request to extend the expiration date of the common share purchase warrants with an expiration date of December 21, 2018.
Unifire Acquisition
Mission Ready and Unifire management continue to work towards closing the proposed acquisition of Unifire, first announced in a Company news release dated July 31, 2018 with updates provided in subsequent news releases dated August 7, 2018 and November 9, 2018 (the "Acquisition"). The Company is pleased with the recent advancements related to the Acquisition and ensuring Unifire's readiness for marked growth backed by the scalable credit facilities now available to the future combined entity. Mission Ready and Unifire management are working diligently to prepare Unifire's submission for the Defense Logistics Agency (DLA) Special Operational Equipment (SOE) Tailored Logistics Services (TLS) contract renewal expected in 2019.
Additional information on the TLS contract renewal can be viewed at the following link:
https://www.fbo.gov/spg/DLA/J3/DSCP-I/SPE8EJ18R0001DRAFT/listing.html
Stock Halt
The Company reports that the trading halt on its stock remains in effect while the Company continues to work towards the close of the proposed Acquisition. Mission Ready's management team is working diligently to have the Company's stock resume trading as quickly as possible and will ensure that shareholders are promptly informed as further information on the trade resumption becomes available.
Warrant Extension Request
Mission Ready reports that, further to its news release dated November 9, 2018, pursuant to TSX Venture Policy 4.1, the TSX Venture Exchange has advised the Company that the common share purchase warrants of the Company issued to subscribers as part of the Company's private placement financing that closed on February 17, 2017 (the "Warrants") are not eligible for an extension of the expiration date. The Warrants, with an exercise price of CAD$0.15, are subject to the original expiration date of December 21, 2018.
About Mission Ready Solutions Inc.
Headquartered in Vancouver, British Columbia, Canada, Mission Ready innovates and manufactures leading tech-centric defense and tactical solutions to prevent injuries and enhance the performance of military personnel, first-responders and all those who protect us by equipping them with the next generation of personal protective technologies.
Mission Ready is committed to becoming a global leader in personal protective technologies through the strategic growth of its three synergistic business segments; Innovations & Development, Prototyping & Manufacturing, and Product Sales.
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 500
E: [email protected]
Mission Ready Solutions Inc.
(signed "Jeffery L. Schwartz")
Jeffery L. Schwartz,
President & CEO
T: 1.877.479.7778
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.
Forward-looking statements are based on assumptions management believes to be reasonable. Although Mission Ready Solutions 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 Solutions 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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