VANCOUVER, British Columbia, Dec. 29, 2017 (GLOBE NEWSWIRE) -- Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX VENTURE:MRS) is pleased to provide its shareholders with the following letter from the Company’s Chief Executive Officer, Jeffery Schwartz.
Dear fellow shareholders:
I would like to begin by expressing my most sincere gratitude to fellow shareholders for their continued support of Mission Ready and our vision; to Protect Those Who Protect Us. With your help, we are disrupting the industry and becoming a market-leading manufacturer of tech-centric defense-related protective solutions.
2017 was a year full of significant changes, growth, challenges and accomplishments. As a team, we worked together to streamline processes, reduce administrative costs, increase sales and prepare a robust corporate foundation that will enable us to effectively bring our vision to life. As 2017 comes to a close, and we pick up speed into the new year, the Mission Ready team is excited for a year of unprecedented growth and achievement as we roll out our ambitious 2018 business plan, an integral building block of the Company’s long-term growth strategy.
As we reflect on the many opportunities borne and advancements made this past year, one in particular, not surprisingly, has been a principal focus of Mission Ready’s management team, and has captivated the attention of the investing public; the Foreign Military Distribution Agreement ("the Agreement”) first announced September 6, 2017. Based on the progress made in the second and third quarter of 2017, the Company had estimated that it would commence manufacturing on the initial purchase order(s) (“PO”) in the fourth quarter of 2017. All parties to the Agreement continue to work diligently and methodically to address the many administrative and organizational dynamics synonymous with large, long-term government arrangements. We have made many necessary preparations over the past several months and we are ready to begin manufacturing upon receipt of the initial PO which, considering the limited time remaining in Q4 2017, is now expected in 2018. In keeping with our commitment to excellence in communication and disclosure, we will report all material developments to the market in a timely fashion and continue to provide regular public updates going forward.
We are confident that 2018 will be a year of appreciable growth for the Company, both domestically and internationally. Through consistent and transparent communication with current and prospective clients, the Company continues to demonstrate its ability to leverage resources and strategic relationships to efficiently grow its production capacity to meet current and future manufacturing commitments. In support of this, we are happy to report that, since September 2017, the Company has received approximately $3.98MM in warrant exercises and $1.65MM through a private placement financing, for gross proceeds of approximately $5.6MM.
We thank you again for your dedication and support as we serve to Protect Those Who Protect Us, and we wish you a very Happy New Year.
Sincerely,
Jeffery Schwartz
About Mission Ready Services Inc.
Mission Ready serves to save lives and enhance 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