VANCOUVER, BC–(Marketwired – June 22, 2017) – Mission Ready Services Inc. (“Mission Ready” or the “Company“) (TSX VENTURE: MRS) is pleased to report strengthened production and sales volumes for the current quarter with Q2 2017 revenues projected to be approximately $1.8MM[1], an increase exceeding 65% over the same period in 2016. These revenues represent the combined sales from the Company’s wholly-owned subsidiaries — PTF Manufacturing (“PTFM”), Wild Things USA (“Wild Things”), and 10-20 Services (“10-20”) — and will be reflected in the Company’s 2nd quarter financial results due August 29, 2017.
“We are very pleased with the growth we are seeing during what is typically the slowest quarter of the year in terms of sales and revenue generation,” states Jeff Schwartz, President & CEO of Mission Ready Services Inc.
Manufactured in-house at the Company’s 22,000 square foot facility in Jacksboro, Tennessee, PTFM delivered $425,000[1] in B-Cool Concealed Carriers to White Horse R&D, Inc. (“White Horse”) in addition to the fulfillment of multiple additional purchase orders over the most recent 11 weeks. The $7.98MM[1] commitment for the B-Cool concealed carriers to be delivered over a 36-month period was first announced in a February 8, 2017 news release. Production at PTFM is in full swing fulfilling purchase orders and delivering the quality-assured products per client specifications and on schedule. Additionally, while generating sales revenues for the quarter of approximately $865,000[1], Wild Things began transitioning its products to be manufactured in-house at PTFM as part of the ongoing integration initiatives.
Mr. Schwartz continues, “At PTFM, rapid prototyping, custom design and manufacturing is what we do, and we do it well. Our process from concept to delivery — the B-Cool concealed carrier being a prime example — is highly scalable and gives us a competitive edge in capturing a significant volume of the market share within the vast and growing personal protective equipment industry. Our team — design, production, sales & administration — is comprised of some of the best and most experienced professionals in the industry who will be instrumental in helping us reach our growth targets both short and long term.”
[1] Amounts are approximate and quoted in Canadian dollars converted from USD using a USD-CAD exchange rate of 1.33.
About White Horse
White Horse R&D, Inc. offers state of the art ballistics and blast protection, asset protection and hazardous environmental containment. White Horse’s products provide life-saving protection for the United States war fighters, law enforcement officers and its Allies. For more information on White Horse R&D, Inc., visit https://whitehorserd.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 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 & Cold Weather Gear
- Manufacturing of Leading Military & Law Enforcement Personal Protective Equipment / Cold Weather Gear / Tough, Lightweight Technical Outwear
- 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
Mission Ready Services Inc.
(signed “Jeff Schwartz”)
Jeff Schwartz,
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.
Terry Nixon
Director, Corporate Communications
Telephone: 1.877.479.7778
