MISSION READY SERVICES INC
Mission Ready makes initial shipment of Flex9Armor
2016-11-23 08:40 ET - News Release
Mr. Rod Reum reports
MISSION READY'S PROTECT THE FORCE ANNOUNCES INITIAL SHIPMENT OF FLEX9ARMOR
Mission Ready Services Inc. has received an initial order and made an initial shipment of its Flex9Armor tactical police shirt to a U.S. County Sheriff Department SWAT unit. Developed and fulfilled through the company's wholly owned subsidiary, Protect The Force Inc. (PTF), additional Flex9Armor shipments are currently being prepared for a foreign military order while evaluations are under way by a number of European NATO (North Atlantic Treaty Organization) nations.
Flex9Armor -- jointly developed in co-operation with the U.S. military -- comprises a family of protective garments that provide stringent levels of ballistic protection while maintaining exceptionally lightweight and flexible characteristics. Traditional armour lacks coverage of the arms, chest and neck region of the body, and current additional protection for these areas adds weight and reduces mobility. Flex9Armor incorporates a network of NIJ Level II and IIIA body armour panels into a breathable anti-microbial material that is 30 per cent lighter than conventional armour. Integrating all of these features into one combined garment makes Flex9Armor a superior option for first responders that is available in standard and fire-retardant configurations. Additionally, PTF this week released a variant of the Flex9Armor, the Flex9Spike, designed for use by federal, state and local correctional facilities.
In a news release dated Oct. 27, 2016, Mission Ready announced that PTF had won an award through the U.S. Department of Defence's defence to response (D2R) technology program for the provision of $110,000 (U.S.) in services from Texas A&M Engineering Extension Service's product development centre (TEEX PDC) to commercialize PTF's Flex9Armor to enhance public safety and homeland security. Protect The Force is currently working with over 70 U.S. federal, state and local law enforcement agencies at various stages of the evaluation and purchasing process. In anticipation of a significant demand for the Flex9Armor, PTF has streamlined its processes through a state-of-the-art on-line order-fulfilment platform and recently launched a manufacturing division based in Jacksboro, Tenn., in order to efficiently and effectively meet client requests.
We seek Safe Harbor.
Mission Ready Announces Escrowed Close of Unifire Acquisition, Provides Corporate Update
VANCOUVER, BRITISH COLUMBIA – February 12, 2019 – Mission Ready Solutions Inc. (“Mission Ready” or the “Company”) (TSXV: MRS) is pleased to announce that is has received conditional approval from the TSX Venture Exchange (the “TSXV”) for its previously announced acquisition (the “Acquisition”) of Unifire, Inc. (“Unifire”) and that trading in the Company’s common shares on the TSXV will resume on February 14, 2019. The Company is also pleased to announce that it has closed the Acquisition in escrow. The Acquisition has been structured as a merger between Unifire and a wholly owned subsidiary of Mission Ready which was incorporated for purposes of the Acquisition. The consideration for the acquisition includes:
- The issuance of an aggregate of 26,315,790 common shares (“Shares”) of the Company.
- The Shares will be issuable upon, and subject to, final acceptance from the TSXV (“Final Acceptance”).
The Shares will be subject to a four-month statutory hold period and will also be subject to contractually agreed upon escrow restrictions whereby the Shares will vest incrementally up to the final release date of January 1, 2022.
Deferred cash payments totaling USD$4,000,000.
- The cash payments will be payable incrementally pursuant to a contractually agreed upon schedule with the final payment to be remitted on January 1, 2022.
The Shares will be issued upon the release from escrow of all closing documents which is subject to receipt of Final Acceptance. Final Acceptance is conditional on the Company delivering to the TSXV the following, unless otherwise waived:
Share Structure (at January 4, 2019)
| Issued & Outstanding ||130,391,887 |
| Warrants ||9,503,595 |
| $0.50 – 3,484,820 |
$0.15 – 5,618,775
$0.10 – 400,000
| Options ||15,605,000 |
| Fully Diluted ||155,500,482 |