VANCOUVER, B.C. – (TSX-V: MRS) – Mission Ready Services Inc. (“Mission Ready” or the “Company”) reports that, due to ongoing negotiations with certain parties, the Company has applied for and been granted an additional 30-day extension (the “Extension”) by the TSX Venture Exchange on the completion of its current private placement financing (the “Offering”), first announced by a News Release dated December 3, 2015. The Extension supplements an initial 30-day extension granted to the Company and announced January 20, 2016 extending the deadline for submission of the closing documents for Exchange consideration to March 18, 2016.
The Offering consists of up to 25,000,000 units (the “Units”) at $0.06 per Unit for gross proceeds of up to CDN $1,500,000 of which 18,409,085 Units were issued on the closing of the first tranche announced December 24, 2015 raising gross proceeds of CAD $1,104,545.
The proceeds from the Offering will be used for the advancement and growth of the Company’s current initiatives including the commercialization and launch of its Ballistic Combat Shirt, Tactical Police Shirt, No-Contact Tactical Shield Cover/Conducted Energy Clothing, future opportunities and general working capital.
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, MRSI 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
MRSI’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 the Company’s website at MissionReady.ca or contact:
Terry Nixon – Director, Corporate Communications
Mission Ready Services Inc.
(signed “Rod Reum”)
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.