VANCOUVER, B.C. – Mission Ready Services Inc. (TSX-V: MRS) – Mission Ready Services Inc. (“Mission Ready” or “MRSI” or the “Company”) announces that the Company has been granted permission by the TSX Venture Exchange to offer to Debenture Holders (“Debenture Holder” or “Holder”) a one half warrant for the early conversion of debentures outstanding in the amount of $1,030,000. As per the original terms of the debentures issued April 15, 2013, Debenture Holders may convert debentures into common shares of the Company prior to April 15, 2015 at $0.25 per share. Upon conversion of the total amount of the debenture due, the Holder will be issued one half share purchase warrant in addition to each common share issued. Each full Warrant shall entitle the holder thereof to acquire one additional Share (a “Warrant Share” or “Warrant Shares”) at an exercise price of $0.50 per Warrant Share and expiring on September 30, 2017. If, at such time, the Company’s weighted average share price for 10 consecutive trading days equals or exceeds $1.00, the Company may give notice to the Warrant holders that they must exercise their remaining Warrants within a period of 30-days from the deemed date of receipt of the notice. Any Warrants remaining unexercised after the expiration of the 30-day notice period will be cancelled and will thereafter be of no force or effect.
Business of the Company
MRSI was formed to meet a critical need of one of the world’s largest customers, the US Government and in particular the Departments of Defence, Homeland Security and Justice and various other agencies such as law enforcement, first responders and the many others worldwide that help to safeguard our health and security.
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.
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.
MRSI also benefits from an experienced Board of Directors and a qualified Advisory Board both composed of seasoned professionals with military, legal, financial, and business development expertise.
Headquartered in Vancouver, BC, MRSI (www.missionready.ca) has three distinct, synergistic operating divisions:
- Strategic consulting services and manufacturers representation (CMR)
- Equipment inspection, cleaning/decontamination and repair services of personal protection equipment (ICD)
- Product research and development (R&D)
For further information contact:
Terry Nixon – Director, Corporate Communications
Mission Ready Services Inc.
(signed “Rod Reum”)
President & CEO
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.