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.
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 5E: IR@MRSCorp.com
Mission Ready Solutions
Inc.
(signed “Jeffery L. Schwartz”)
Jeffery L. Schwartz,President & CEOT:
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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