VANCOUVER, B.C. – March 9, 2017 – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX-V: MRS) is pleased to announce that all conditions precedent to the Asset Purchase Agreement related to the acquisition of Wild Things, LLC, first announced September 1, 2016, have been satisfied and Mission Ready has closed the acquisition of the business and certain assets of Wild Things, LLC (the “Transaction” or “Acquisition”). The USD $4.5MM Transaction was further detailed in news releases dated January 4, 2017, February 8, 2017, February 21, 2017 and February 28, 2017.
The close of the Transaction follows the approval from Crestmark Bank (“Crestmark”) to extend a USD $2.5MM credit facility to Wild Things USA Inc., a wholly-owned subsidiary of the Company.
“We are thrilled to announce the completion of the Wild Things Acquisition and wish to extend a sincere thank you to all of the individuals involved in advancing this transaction to completion, including the Wild Things team and members of Crestmark’s staff,” said Rod Reum, Chairman of Mission Ready. “Crestmark has been providing lending facilities to Wild Things for a number of years, and we are honored to have them partner with Mission Ready as well,” Reum added.
Crestmark is an FDIC-insured bank that provides innovative financial solutions for businesses nationwide. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, term loans, factoring, machinery/equipment financing and equipment leasing. Crestmark has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel/footwear/furniture distribution/manufacturing, hospitality/hotels, insurance agencies, and technology hardware/software. Headquartered in Michigan, with additional offices in California, Florida, Louisiana, Tennessee, New York, and Illinois; and representatives nationwide. www.crestmark.com
About Wild Things, LLC
Founded in 1981, Wild Things, LLC has earned a reputation for sophisticated, tough, lightweight technical outerwear, alpine-style backpacks, haul-bags, and innovative tactical clothing. Wild Things occupies a unique position in the marketplace with a 35-year heritage of pioneering product design for the specialized needs of the alpine mountaineering and military communities. Chosen for the world’s most demanding conditions by the world’s most demanding users, Wild Things, LLC manufactures its products in the USA under two divisions — Wild Things for the outdoor enthusiast and Wild Things Tactical for the unique needs of the military and law enforcement communities. In addition to the design studio and executive offices located in Middletown, Rhode Island, Wild Things operates a factory and second design studio in Gorham, New Hampshire. For more information, visit: http://wildthingsgear.com/
About Mission Ready
MRSI’s mission is 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:
- Strategic consulting services and manufacturers representation
- Equipment inspection, cleaning/decontamination and repair services of personal protection equipment
- Product research and development
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 contact:
Terry Nixon – Director, Corporate Communications
Mission Ready Services Inc.
(signed “Rod Reum”)
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.