Quantico Tactical

Posts Tagged ‘Mission Ready’

Mission Ready Announces Appointment of Major General (Retired) James A. Marks to its Board of Directors, Option Grant

Wednesday, June 13th, 2018

VANCOUVER, BRITISH COLUMBIA – (June 12, 2018) – Mission Ready Solutions Inc. (“Mission Ready” or the “Company”) (TSX VENTURE: MRS) is pleased to announce the addition of Major General (Retired) James Marks (“General Marks”) to the Company’s Board of Directors (“Board”), effective June 15, 2018.

Board Appointment – Major General (Retired) James A. “Spider” Marks

James A. “Spider” Marks is the President of The Marks Collaborative, an advisory firm dedicated to the development and transformation of corporate leaders and their organizations.

Since retiring from the military, General Marks has continued his engagement in national security as an on-air contributor to CNN and as a keynote speaker and author addressing our dynamic geo-political environment. He has led business ventures to include entrepreneurial efforts in education, energy, IT, and primary research.

General Marks spent over 30 years in the United States Army holding every command position from infantry platoon leader to commanding general and was the senior intelligence officer during the LA Riots, in the Balkans, Korea, Iraq. He is an Honor Graduate of the US Army’s Ranger School and a member of the Military Intelligence Hall of Fame.

General Marks has a Bachelor of Science degree in Engineering from the United States Military Academy at West Point, NY and a Master of Arts degree in Foreign Affairs from the University of Virginia.

“It is with great pleasure that we welcome General Marks as the newest member of the Company’s recently strengthened board of directors,” states Jeffery Schwartz, President & CEO of Mission Ready. “General Marks will add tremendous value to the Company with insights gained from over 30 years of relevant experience and a shared desire to protect those who protect us by equipping them with the next generation of personal protective technologies.”

General Marks has also been appointed as the Chair of the Company’s Compensation Committee.

“Additionally, as we continue to advance the Company’s strategic growth plan – both within North America and globally – we are actively identifying and vetting highly-qualified individuals to provide strategic direction to the Company as members of Mission Ready’s developing Advisory Committee,” states Schwartz.

Grant of Options
Mission Ready reports that it has granted incentive stock options (the “Options”), pursuant to its stock option plan, for a total of 300,000 common shares of Mission Ready Solutions Inc. to a director and an employee of the Company. The Options are exercisable at a price of $0.25 per share for a period of five (5) years.

Mission Ready, Parent Company of Protect The Force Announces Appointment of Former NYPD Commissioner to Board of Directors

Saturday, May 5th, 2018

VANCOUVER, BRITISH COLUMBIA – (May 1, 2018) – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX VENTURE 50 :MRS) is pleased to announce the addition of former NYPD Commissioner, William J. Bratton, to the Company’s Board of Directors effective May 1, 2018.

Currently serving as the Vice Chairman for the Secretary of Homeland Security’s Advisory Council, Mr. Bratton, during a 46-year career in law enforcement, instituted progressive change while leading six police departments, including seven years as Chief of the Los Angeles Police Department and two nonconsecutive terms as the Police Commissioner of the City of New York. Mr. Bratton is the only person ever to lead the police agencies of America’s two largest cities. Mr. Bratton currently serves as the Executive Chairman of Teneo Risk (“Teneo”).

Jeffery Schwartz, President & CEO of Mission Ready states, “During the recent 12-months, we have built an excellent team who will be instrumental in the growth and success that we envision for 2018 and beyond. Mr. Bratton’s extensive experience and contributions to the industry will be of great value to the Company. We could not ask for a more qualified individual to help us advance Mission Ready at this important time in the Company’s evolution.”

Mission Ready Acquires MS2 Group, Appoints VP of Marketing & Product Development

Wednesday, January 3rd, 2018

VANCOUVER, British Columbia, Dec. 21, 2017 (GLOBE NEWSWIRE) — Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX VENTURE:MRS) is pleased to announce that – further to the developments referenced in the December 7, 2017 Investor Conference Call – a Letter of Intent and a new addition to the Sales & Marketing Team – the Company has expanded its catalogue of NIJ-certified tactical products through the acquisition of Mission Specific Solutions Group (“MS2”), and appointed MS2’s founder, Roland VanSkiver, as Mission Ready’s new VP of Marketing & Product Development.

With a global network of strategic partnerships, MS2 helps new and evolving companies bring their products to market. MS2 brands include Overwatch Systems, which provides NIJ certified ballistic solutions, and MS2 Gear, which provides innovative, modular and scalable tactical nylon solutions.

Mr. VanSkiver brings over 15 years of senior management and strategic consulting experience to Mission Ready, which has recently made significant additions to its senior management team. Prior to MS2 Group, Roland VanSkiver served as Vice President of Sales, Marketing and Product Development for two industry leading brands; Diamondback Tactical and High Ground Gear. In addition to his extensive corporate leadership experience, Mr. VanSkiver served the United States of America at home and abroad as a former Marine and Narcotic Officer.

Jeff Schwartz, President & CEO of Mission Ready, states, “Mr. VanSkiver’s experience and marketing skills will strengthen our streamlined management team – which already includes major additions in both domestic and international sales – and complements the Company’s new marketing initiatives as Mission Ready establishes itself as an industry leader in tech-centric tactical solutions.”

For further information, visit MissionReady.ca or ProtectTheForce.com.

Mission Ready Wins US Army Cold Weather Gear Award

Friday, October 13th, 2017

VANCOUVER, BRITISH COLUMBIA – (OCTOBER 12, 2017) – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX VENTURE:MRS) is pleased to announce that it has been awarded a contract to produce next generation cold weather gear prototypes for the US Army based upon Government furnished designs under solicitation number W911QY-17-R-0041. The single fixed price contract awarded to Protect The Force (“PTF”) – a wholly-owned subsidiary of Mission Ready – is for the production of approximately 130 each of an experimental cold weather jacket and trouser in approximately 6 sizes with a receipt date no later than December 1, 2017 for a winter 2017-2018 limited field user evaluation.

The US Army Natick Soldier Research, Development & Engineering Center (“NSRDEC”) is conducting a front-end analysis under the Cold Temperature and Artic Protective System (“CTAPS”) project. CTAPS is a Soldier head to toe clothing ensemble with -65 to +45F environmental protection. The CTAPS objective shall improve the cold weather soldiers’ survivability, mobility and lethality potential in the fewest number of clothing layers with increased utility that allow soldiers to configure the clothing protection to match their activity any environment conditions from-65 to 45F.

Technical analysis to date has identified performance gaps and is now examining new technology and design improvements to quantify capability advancements over the Army’s 2000 era Generation III Extended Cold Weather Clothing System (Gen III). PTF will produce concepts and make recommendations for improved performance and/or manufacturability of the Government design as appropriate on an experimental cold weather jacket and trouser to quantify what advancements can be achieved in the Gen III Layer 5 Softshell jacket and trouser.

Jeffery Schwartz, President & CEO of Mission Ready, states, “The great minds within our Company continue to raise the bar for tech-centric, defense-related innovations. This award is a tremendous win for the Company in that it provides a highly credible medium for the Company to further prove its innovation capabilities by disrupting another critical industry, on a very high level, through the production of this next generation cold-weather technology.”

The US Government has furnished the Company with detailed technical drawings and graded patterns for the recommended jacket and trouser design as well as a list of required material components with source information, and any specific construction requirements that may not be included in commercial garment sewing practices. NSRDEC has not provided a detailed performance specification and is relying on the Company to fabricate the garments based upon its experience constructing military garments and utilizing its best commercial production and inspection practices.

Mission Ready’s Chief Technology Officer, Francisco Martinez, led the proposal phase working with the Company’s Innovations and Manufacturing team as well as key suppliers. Mr. Martinez states, “The US Army growing needs in upgrading their cold-weather uniforms is an important life saving program for our Soldiers. Participating as the sole company in this key prototyping effort is a validation point of the vision that we set for Protect The Force early in 2017, and a moment of pride for the extremely dedicated and talented team of employees in both Boston, MA and Jacksboro, TN. We look forward to working with the Army and with our suppliers in this key effort.”

The findings from this effort and other concepts from industry shall lead to a complete integrated clothing ensemble for winter 2019 field testing. The FY19 field test results shall inform the requirements and acquisition entities of CTAPS capability advancements to determine if Army full scale development and fielding will be pursued.

For more information, visit MissionReady.ca or ProtectTheForce.com.

Wild Things Calls Off Acquisition By Mission Ready Services

Tuesday, September 5th, 2017

Mission Ready not able to meet financial obligations to complete the deal.

Middletown, R.I., (July 28, 2017) – Wild Things LLC, a leading manufacturer of technical outerwear for the U.S. Military, law enforcement and consumer markets, today announced that its acquisition by an affiliate of Mission Ready Services (MRSI), signed on March 8th 2017, has been cancelled due to MRSI’s failure to pay the purchase price in accordance with the terms of the promissory note executed at closing. Per the terms of the agreement, Wild Things’ prior investors will receive a break-up fee from MRSI and will continue to operate the business independently from MRSI.

“This is a very disappointing outcome for all of the parties involved in this deal,” said Ed Schmults, President of Wild Things. “However, Wild Things will be fine back on our own. No customers, suppliers or employees will be impacted by this. Our bookings are up significantly so far this year and we are looking forward to continued growth and success.”

The two companies kept the Wild Things business separate pending full satisfaction of the promissory note so the operational impact to Wild Things is negligible. The two companies worked well together and intend to explore ways to work together in the future.

Mission Ready Announces Winning Submission to Develop US Navy Electrician’s Impact Safety Vest

Friday, April 7th, 2017

VANCOUVER, BC–(Marketwired – April 04, 2017) – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX VENTURE: MRS) is pleased to announce that its wholly-owned subsidiary, Protect The Force Inc. (“Protect The Force” or “PTF”), has been awarded a contract with Natick Soldier Research Development and Engineering Center (“Natick”) for the development of an Electrician’s Impact Safety Vest (“EISV”) to be used by sailors on surface and submarine vessels.

PTF’s successful submission followed a solicitation by Natick for a 3-phase delivery of EISV’s with technology and functionality integrations including excellent mobility and flexibility, arc flash and impact protection — afforded by the selection of specific materials — and physical features to allow for extraction in the event the user becomes injured and incapacitated.

Leveraging a US Government design, PTF will develop the initial prototypes for expert-user field evaluation prior to production, and subsequent delivery, of 75 final prototypes in accordance with the Statement of Work. All costs associated with the development and delivery of the EISV prototypes will be funded by NSRDEC including USD $28,500.00 fee to be paid to Protect The Force for its efforts in bringing the EISV to the commercialization stage. The prototypes will be produced at PTF Manufacturing, the Company’s 22,000 square-foot rapid prototyping facility in Jacksboro, TN which currently manufactures a full range of products dedicated to the tactical and defense industry including tactical outerwear, canine armor products, bomb suits/blankets, riot control protection, carriers, textiles with integrated electronics and ballistic panels.

Francisco Martinez, PTF’s Chief Technology Officer states, “We have had the privilege of pioneering technology with Natick since 2012 — impacting the industry with outstanding innovations — and we are very excited to once again collaborate with Natick and support this critical project with the uncompromising quality and professionalism that has become synonymous with PTF-Natick collaborations.”

Performed by the Innovations team at its Boston, Massachusetts-based lab, Protect The Force has partnered with the US Government on previous emerging product development efforts — including the US Army Ballistic Combat Shirt and US Marines Ballistic Base Layer — and believes its past performance and strategic proximity to Natick has positioned the Company well to respond to government solicitations and will continue to be advantageous going forward.

“This project is a key development for the Company as it further expands our portfolio and scope of expertise into the industrial safety domain,” states Jeff Schwartz, CEO of Mission Ready. “We are proud to be able to certify the prototypes we will be delivering as Berry Compliant — a US Government requirement for textile-based product procurements — with respect to the materials and the manufacturing process; both made and performed in the United States of America.”

www.missionready.com

Mission Ready Announces Purchase of Wild Things Business

Tuesday, February 21st, 2017

VANCOUVER, B.C. – February 21, 2017 – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX-V : MRS) is pleased to announce that the closing of the previously announced acquisition of the business and certain assets of Wild Things, LLC (the “Transaction”) is scheduled for February 24, 2017 valued at USD $4.5 million.

Pursuant to the Transaction, Mission Ready is acquiring the business of Wild Things, LLC and certain assets including inventories, manufacturing equipment, patents, material contracts, intellectual property, current outstanding purchase orders and the 2017 sales pipeline. This transaction is preceded by the closing of an agreement between a Japanese trading corporation (name withheld due to legal requirements) and Wild Things, LLC for the sale of certain Wild Things trademarks in Asia, including China and Japan and an exclusive trademark license and distribution agreement. The Wild Things heritage logo has been marketed in Japan under license for the past 20 plus years and these efforts will now be expanded.

Rod Reum, CEO & President of Mission Ready states, “We are very excited to be adding such a premium brand as Wild Things to our portfolio to complement our Protect The Force brand. We extend a warm welcome to the talented team at Wild Things. The merger of Wild Things with Mission Ready will allow both Wild Things and our PTF Manufacturing Inc. to significantly expand their reach into their current markets as well as have new markets opened up for each entity.”

“This is a huge deal for Wild Things”, said Ed Schmults, CEO of Wild Things. “To have a global powerhouse for a distribution partner in Asia is very significant for us as well as for some of the product lines of Protect The Force. All of us at Wild Things are thrilled to be working with Rod and the MRS team. These are two complementary businesses that mesh very well together. I think the timing is excellent for MRS and Wild Things to combine resources and take advantage of market opportunities. This sale allows us to significantly strengthen our balance sheet, return capital to shareholders and invest in the growth and development of our business”, said Schmults.

License and Distribution Agreement
Further to a November 2015 agreement providing exclusive import/distribution and master license rights for the Wild Things heritage brand in the Japanese market and precedent to Mission Ready’s purchase, Wild Things, LLC was in negotiations to sell certain trademark rights for Japan and several other Asian countries and has recently concluded that sale. Outside of these countries Wild Things retains ownership and all rights for the rest of the World subject to a right of first refusal by our Japanese trading partner. The distribution agreement gives us an established single trading partner in the fast growing Asian outdoor retail market.

Payment Terms
The cash portion of the Transaction price, is provided by a small allocation ($350,000) from the brand rights sale as previously mentioned and a $4.15MM loan from Wild Things, LLC secured by the assets of Wild Things USA, a wholly-owned subsidiary of Mission Ready formed to facilitate the Transaction. The company will work to replace the Wild Things, LLC loan over the next several months.

Congratulations to all involved.

Mission Ready Announces Private Placement & Provides Wild Things Acquisition Update

Thursday, January 5th, 2017

VANCOUVER, B.C. – January 4, 2017 – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX-V : MRS) announces that it has arranged a non-brokered private placement of up to 11,000,000 units (the “Units”) at $0.10 per Unit for gross proceeds of up to CDN $1,100,000 (the “Offering”). Each Unit will consist of one common share in the capital of the Company (a “Share”) and one share purchase warrant (each whole warrant, a “Unit Warrant”). Each Unit Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a “Unit Warrant Share”) at a price of $0.15 per Unit Warrant Share until December 21, 2018.

The Unit Warrants are subject to a forced exercise provision whereby, if the volume weighted average price for the Company’s common shares is CDN $1.00 or greater for a period of not less than 10 consecutive trading days from a date beginning 4 months and one day following the date of issue, and the Company so elects, the holders of Unit Warrants will have 30 calendar days to exercise all or a portion of their Unit Warrants. Any Unit Warrants remaining unexercised after the expiration of the 30-day notice period will be cancelled and will thereafter be of no force or effect.

The proceeds from the Offering will be used for the advancement and growth of the Company’s current initiatives, including manufacturing equipment, materials and working capital.

The Offering is subject to applicable Canadian prospectus exemptions being available along with a number of conditions, including, but not limited to, receipt of all necessary corporate approvals and TSX Venture Exchange approval. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

Wild Things, LLC Acquisition
Further to the News Release dated September 1, 2016 announcing the signing of a Letter of Intent to acquire Wild Things, LLC, Mission Ready reports that the expected close date of Q4 2016 has been delayed to allow the completion of certain conditions precedent in the Asset Purchase Agreement (“APA”) with Wild Things LLC, including the execution of definitive agreements for the sale of selective brand name rights for certain East Asian countries to a strategic Japanese trading company. All third party negotiations and conditions of the APA are expected to be finalized within the next 30 days.