MSNVF $$-30M-$$.May.2020.contracts!!! Filings.Update, Investor.Call Share.Price near.52.week lows!!!
Securities Alert Sent: Wed May 20 2020 7:03:24 AM EDT
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Mission Ready Solutions Inc MSNVF: OTC Pink - Current Information
Mission Ready Announces CAD $5,500,000 in New Orders, Investor Call, Filings Update
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 Orders
Further 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 Call
The 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 Com panyies current initiatives and short-term objectives followed by a question and answer period ("Q&A") whereby management will respond to common inquiries received by the Company from current and prospective shareholders. Participants are invited to email inquiries 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 Pass code: 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 Filings
Mission 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 Filings
The Company will also be relying on the temporary exemption pursuant to BCI 51-515 in respect to the following provisions:
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 Development
Wholly-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 5
E: IR@MRSCorp.com
Mission Ready Solutions Inc.
(signed "Jeffery L. Schwartz")
Jeffery L. Schwartz,
President & CEO
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.
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Mission Ready Announces CAD $24 Million FEMA Contract Award
2:50 pm ET May 14, 2020 (Globe Newswire) Print
Mission Ready Solutions Inc. ("Mission Ready" or the "Company") (TSXV: MRS) is pleased to announce that, further to its news release dated April 28, 2020, the Company has received a CAD $24,000,000 (twenty-four million) contract award ("Contract Award") from the US Department of Homeland Security ("DHS") Federal Emergency Management Agency ("FEMA") for the provision of personal protective equipment ("PPE") to be delivered between May 12, 2020 and September 30, 2020.
The Statement of Work received by the Company from FEMA provides the following information relative to the background and scope of the Contract Award:
"The COVID-19 outbreak was declared as a national emergency via Presidential Proclamation on March 13, 2020. The community spread of COVID-19 has evolved at a fast pace resulting in an urgent need to procure personal protective equipment to support the containment and response to the outbreak. The need and extent for personal protective equipment will continue to evolve as the virus spreads throughout the nation. The Federal Emergency Management Agency (FEMA) is seeking to procure supplies in support of COVID-19 Personal Protective Equipment & Medical Supplies. The Contractor shall provide various personal protective equipment as identified in the IDIQ Contract to FEMA specified locations."
In addition to the CAD $24,000,000 awarded to Mission Ready, the Contract Award includes an option, exercisable at FEMA's discretion, for an additional CAD $12,000,000 (twelve million) to be awarded to Mission Ready no later than September 30, 2020 (the "Option"), for an aggregate potential contract value of up to CAD $36,000,000.
"We are grateful for the opportunity to contribute meaningfully to the fight against COVID-19," states Jeffery Schwartz, President and CEO of Mission Ready. "Utilizing Unifire's vast network of product manufacturers and distributors established over a 30-year period, we are uniquely positioned to respond quickly and competitively to the increasing volume of government and industry requests for personal protective equipment. As we work to become increasingly nimble and grow the bottom line, we will remain focused on accretive opportunities that allow the Company to retain profits to be reinvested and leveraged for further growth. Being a delivery order, the Company will not require any additional facility space, equipment or personnel to facilitate the FEMA Contract Award. Additionally, as is the generally the case with the bulk of Unifire's business, this Contract Award followed our response to a federal solicitation for specific products that had been vetted and pre-cleared by the US government - meeting or exceeding safety and efficacy standards established and mandated by the Food and Drug Administration - for use by those fighting for us on the front lines."
The Company's ability to demonstrate adequate capital availability to fulfill delivery orders continues to contribute to its success in winning contracts. The Company will utilize commercially-competitive-rate financing provided by its existing capital partners to facilitate the delivery of the products to FEMA. Logistics and product delivery will be direct from manufacturer to end customer.
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.
MISSION READY AWARDED SPECIAL OPERATIONAL EQUIPMENT BRIDGE CONTRACT
7:00 am ET March 11, 2020 (Globe Newswire)
Mission Ready Solutions Inc. ("Mission Ready" or the "Company") (TSXV:MRS) is pleased to announce that, on March 5, 2020, the Company - through its wholly-owned subsidiary, Unifire, Inc. ("Unifire") - was awarded a firm-fixed-price, indefinite delivery/indefinite quantity ("IDIQ") contract (SPE8EJ-20-D-0014) (the "Contract") by the United States Defense Logistics Agency ("DLA") under solicitation SPM8EJ-13-R-0001. A total of six companies (Unifire and five others) were awarded contracts in connection with the extension of DLA's Special Operational Equipment ("SOE") Tailored Logistics Support ("TLS") contract (the "NEW SOE Bridge"). The New SOE Bridge will continue coverage of the full line of SOE and incidental services under the DLA Troop Support SOE TLS program from March 7, 2020 through March 6, 2021.
A firm-fixed-price contract provides for a price that is not subject to any adjustment on the basis of the contractor's cost experience in performing the contract. In U.S. Federal government contracting, an IDIQ is a type of contract that provides for an indefinite quantity of supplies or services during a fixed period of time. IDIQs are also sometimes called "Task Orders" or "Delivery Order Contracts." IDIQ contracts are a subtype of Indefinite Delivery Contract (IDC), which is a "vehicle that has been awarded to one or more vendors to facilitate the delivery of supply and service orders.
Additional information on the New SOE Bridge can be viewed at the following link:
https://www.defense.gov/Newsroom/Contracts/Contract/Article/2104849/
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