VANCOUVER, British Columbia, March 10, 2021 (GLOBE NEWSWIRE) -- 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 Orders
September 25, 2020 | $58.5 Million in New Purchase Orders
September 24, 2020 | $37.5 Million in New Purchase Orders
September 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 Relations
T: 1.877.479.7778 – Ext 5
E: IR@MRSCorp.com
Mission Ready Solutions Inc.
(Signed “Buck L. Marshall”)
Buck L. Marshall
President, CEO and Director
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.
Forward-Looking Information
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. 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.