VANCOUVER, British Columbia, Nov. 30, 2017 (GLOBE NEWSWIRE) -- Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX-V:MRS) is pleased to provide an update on recent operational advancements within the Company, and announce the fulfillment of an initial order from the Republic of Tunisia Armed Forces (“Tunisian Armed Forces”) in North Africa.
In an entirely unrelated development from the Foreign Military Distribution Agreement announced September 6, 2017, the Company has received a small leading order for 140 of its Plate Carriers and Soft Armor (collectively, a “Unit”) from the Tunisian Armed Forces. This initial pilot order follows an October 2017 visit from senior Tunisian Military and Government officials who toured the Company’s manufacturing facility in Jacksboro, TN as part of a due diligence undertaking for the selection of tactical solutions provider.
Foreign Military Distribution Agreement
Further to the September 6, 2017 news release announcing a Foreign Military Distribution Agreement, the Company is pleased with the progress being made in advancing the project including the construction of the required logistical framework among other administrative preparations. Senior executives representing both Mission Ready and the Distributor are working diligently to advance the project as efficiently as possible, with the goal to begin receiving the initial purchase order(s) within the current quarter.
Mission ready is highly committed to maintaining its notable track record of regulatory compliance and timely disclosure of material events and, as such, will continue to ensure the prompt and comprehensive public disclosure of newsworthy developments going forward.
Marketing & Sales
Mission Ready welcomes Marcus Treiber as the new VP of Sales for Protect The Force (“PTF”). Treiber will lead the Company’s growing sales team to rapidly expand PTF’s footprint within the industry and bolster its product sales in the United States of America, and internationally, to foreign militaries.
Mr. Treiber, a former US Marine and Project Officer for the United States Marine Corps, is an industry veteran with over 15 years of experience in the US armor and protection markets. As a founder of Renegade Armor, Mr. Treiber served as their Chief Operating Officer and, in 6 years, grew the company from a startup to over USD $17MM in annual sales before accepting a buy-out offer from Propper International. Prior to Renegade, Mr. Treiber worked at Protective Products International from February 2005-January 2009. While at Protective Products, Mr. Treiber was responsible for 500% growth of the company and the award of the largest USMC body armor contract in the history of the Marine Corps. After serving as an Infantryman in the Fleet Marine Force, Mr. Treiber was selected to be an instructor at The Basic School (TBS) in Quantico, Virginia. In this capacity, Mr. Treiber rewrote the Military Operations Urban Terrain (MOUT) package taught to every Marine officer.
Additionally, Mission Ready has retained the services of Nick Hoffman and his team at Tactical Development Group (“TDG”) which provides disruptive business solutions for shooting, hunting, outdoor and tactical (“SHOT”) brands. With nearly 20-years experience in the SHOT market, Tactical Development Group’s focus provides extensive knowledge of products and customer behavior. Experienced in developing businesses and brands for Military, Federal, State and Local Agency consumption, Tactical Development Group understands the target customer and their needs, as well as market dynamics and landscape, providing the strategy and catalyst for successful business and brand growth. Tactical Development Group’s team includes a broad skillset in marketing, media, sales management, operational management, product development, relationship management, leadership, and high-level strategy for the SHOT market.
Technology & Product Development Update
Further to the Company’s April 4, 2017 news release announcing a winning submission to develop an Electrician’s Impact Safety Vest (“EISV”) for the US Navy, under contract with the US Army Natick Soldier Research, Development & Engineering Center (“NSRDEC”), Protect The Force has finalized delivery of the user evaluation prototypes pursuant to the terms of the 6-month Government-funded development project. Protect The Force will work with the US Government to identify commercialization opportunities for this first-of-a-kind product within the Navy, Department of Defense, Department of Homeland Security, industrial safety industry, among others markets.
On August 11, 2017, Protect The Force was awarded a prototyping contract (the “Project”) from the Naval Surface Warfare Center (“NSWC”) for a base vest with modular components for tailoring protection levels to defeat multiple ballistic and fragmentation threats while performing security and Anti-Terrorism/Force-Protection duties. The Project was successfully completed as of September 12, 2017. Francisco Martinez, Mission Ready’s Chief Technology Officer, states, “Our continued success in winning these development awards further validates our distinction in the industry, and demonstrates our ability to respond quickly to government requests.”
Further to the Company’s October 2017 update on the Advanced Multi-Purpose Base Ensemble for Emergency Responders (“AMBER”) project, all uniforms have been delivered and user evaluations have begun in the US and internationally by foreign partners in the United Kingdom and Sweden. Protect The Force has developed a go-to market strategy for the AMBER project and is expectantly awaiting the finalization of the user evaluations. Additionally, the Company is actively working towards securing the intellectual property rights for the AMBER technology.
Q3 2017 Interim Results
Mission Ready reports that its quarterly unaudited financial statements, related Management’s Discussion & Analysis (“MD&A”) and National Instrument (“NI”) 52-109FV2 reports for the period ended September 30, 2017 were filed on SEDAR on November 29, 2017 and can be viewed at http://www.sedar.com/.
“We continue to implement our aggressive strategic growth strategy to increase sales and grow the bottom line,” states Jeffery Schwartz, President & CEO of Mission Ready. “As a launching point for what we believe will be a very busy year for the Company, we are going into 2018 with open orders, at present, totaling in excess of CAD$1.35MM for the first quarter.”
Investor Conference Call
The Company will hold an investor conference call (the “Investor Call”) on Thursday, December 7, 2017 at 4:00PM EST. The duration of the Investor Call is expected to be approximately 30-45 minutes.
In addition to providing a corporate update, the Mission Ready management team will be hosting a brief Question & Answer (“Q&A”) period whereby they will respond to investor enquiries as time permits. To submit an enquiry or discussion point to be addressed during the Q&A period, send an email to InvestorCall@MissionReadyServices.com no later than 5:00PM EDT on Tuesday, December 5, 2017. The Company will endeavor to respond to as many enquiries as possible within the allotted timeframe.
Jeffery Schwartz further states, “We recognize the tremendous support we continue to receive from our shareholders and believe that investors – current and prospective – deserve proactive, transparent communication. This mandate will continue to be a priority as we develop additional opportunities in 2018 and beyond.”
Dial-In Instructions
- Call Mission Ready toll-free at 1.877.479.7778
- Once the recording begins, enter 1000 on your keypad
- When prompted for your access code, enter 785061#
About Mission Ready Services Inc.
Mission Ready is dedicated to saving lives and enhancing the performance of military personnel, first-responders, and those who protect us by working to ensure they are equipped with the best possible personal protective equipment.
Headquartered in Vancouver, BC, Mission Ready has three distinct, synergistic operating divisions:
- Innovations and Development of Personal Protective Equipment
- Manufacturing of Leading Military & Law Enforcement Personal Protective Equipment
- Cleaning, Decontamination & Repair of Personal Protective Equipment
Mission Ready’s management team offers over 100 years of combined industry experience and is composed of industry experts in developing products, contracting, and selling to the federal government, first responders and tactical markets through open market procurements, teaming arrangements, and a variety of federal contract tools.
For further information, visit MissionReady.ca or ProtectTheForce.com.
Terry Nixon - Director, Corporate Communications
Telephone: 1.877.479.7778
Mission Ready Services Inc.
(signed “Jeffery L. Schwartz”)
Jeffery L. Schwartz,
President & CEO
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 Services 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 Services 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 Services 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 Services 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.