Mission Ready Provides Update on Product Deliveries, Strategy to Maximize Contract Value
10 Marzo 2021 - 6:00AM
Mission Ready Solutions Inc. (“
Mission Ready” or
the “
Company”) (
TSX Venture: MRS)
(
OTCQB: MSNVF) is pleased to provide an update
further to the Company’s October 8, 2020 news release announcing
that it had received an aggregate of $112 million in purchase
orders (each purchase order, a “
Purchase Order”)
to supply isolation gowns in connection with the Company’s
September 18, 2020 news release announcing that it had been awarded
new contracts valued at an estimated $127 million, with a ceiling
of $435 million (the “
Contracts”).
As part of the US Government’s COVID-19 pandemic
response, the Contracts were awarded to the Company’s wholly-owned
subsidiary, Unifire, Inc. (“Unifire”) through the
United States Defense Logistics Agency Troop Support
(“DLA”) Clothing & Textiles
(“C&T”) supply chain to facilitate the
delivery of personal protective equipment to the United States
Department of Health and Human Services for the Strategic National
Stockpile.
First announced in a news release dated February
2, 2021, the Company has engaged Tremont Strategies Group
(“Tremont”) to help maximize the value of the
Purchase Orders received across the Contracts during the term which
spans from September 2020 through September 2021 (the
“Term”). Tremont is a strategic, bipartisan
government relations firm based in Boston, MA and Washington, DC.
Tremont specializes in executing complex, multi-faceted campaigns
by utilizing a comprehensive approach to engage stakeholders,
policymakers and the general public in order to educate and
advocate for its client’s position. With decades of experience in
the public and private sectors, Tremont offers in-depth analysis’
on policy matters and proposals before state and federal
government, and provides the expertise and entrepreneurial
creativity needed to build successful comprehensive public affairs
strategies.
Buck Marshall, President and CEO of Mission
Ready, said, “I am exceptionally proud of the tireless efforts of
our team and trusted industry partners who have presided over the
successful, on-time delivery of 13,328,670 of the 18,000,000
isolation gowns ordered across the Contracts to date. Though we are
unable to definitely predict the aggregate value of Purchase Orders
to be issued across the Contracts during the Term, with another 6
months and up to ~$323 million in runway remaining, we continue to
proactively demonstrate Mission Ready’s preparedness and ability to
accommodate additional Purchase Orders across the Contracts in the
coming months in an effort to maximize the value of the Contracts
to the Company beyond the Purchase Orders currently queued for
delivery.”
Throughout the COVID-19 pandemic, Mission Ready
has worked with its extensive network of Berry Compliant (Made in
America) product suppliers and their staff to quickly and
efficiently deliver critical, life-preserving personal protective
equipment to the US Government in support of their efforts to
replenish the Strategic National Stockpile.
Further information on the Awards can be found
in related Company news releases which can be viewed on at
www.MRSCorp.com or directly at the following links:
October 8, 2020 | $16 Million in New Purchase
OrdersSeptember 25, 2020 | $58.5 Million in New Purchase
OrdersSeptember 24, 2020 | $37.5 Million in New Purchase
OrdersSeptember 18, 2020 | Contracts for an Estimated $127 Million
with a Ceiling of $435 Million
Monetary values referenced herein have been
converted from US currency (USD) to Canadian currency (CAD) using
an exchange rate of 1.32 and rounded down to the nearest 0.5
million.
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 Multiple
Award Schedule contracts administered by the United States General
Services Administration (“GSA”).
Mission Ready’s wholly-owned subsidiary,
Unifire, Inc. (“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. 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.
For further information, visit www.MRSCorp.com
or contact:
Investor RelationsT:
1.877.479.7778 – Ext 5E: IR@MRSCorp.com
Mission Ready Solutions
Inc.
(Signed “Buck L. Marshall”)
Buck L. MarshallPresident, CEO and DirectorT: +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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