VANCOUVER, B.C. – January 11, 2017 – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX-V : MRS) announces that, further to the news release dated January 4, 2017 announcing a non-brokered private placement financing 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”), the Company has closed the first tranche of 4,660,000 Units raising gross proceeds of CDN $466,000.
Each Unit consists of one common share in the capital of the Company (a “Share”) and one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.15 per Warrant Share until December 21, 2018. The Units were sold, on a private placement basis, to persons who qualified as “accredited investors” or by other such exemptions available under applicable securities legislation in Canada and other jurisdictions determined by the Company. The securities offered are subject to resale restrictions of four months plus one day pursuant to the applicable securities laws.
The Company has paid cash commissions of $19,680 and issued 196,800 Broker Warrants to finders as compensation in relation to the closing of this tranche.
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”)
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.