Mission Ready Announces First Tranche Closing of Non-Brokered Private Placement Offering and Extension

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN/

VANCOUVER, BC, Dec. 19, 2022 /CNW/ - Mission Ready Solutions Inc. ("Mission Ready" or the "Company") (TSXV: MRS) (OTCQX: MSNVF) (FSE: 2R4), a provider of comprehensive government contracting solutions, announces that, it has closed the first tranche of its non-brokered private placement (the "Private Placement"), issuing an aggregate of 10,957,875 units (each a "Unit") at a price of $0.08 per Unit, raising gross proceeds of $876,630. 

Each Unit consists of one common share (a "Share") of the Company and one transferable common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Share of the Company at a price of $0.15 per Share for a period of three (3) years from the date of closing of the Private Placement. 

The net proceeds of the Private Placement will be used for ongoing activities and general corporate purposes.

Buck L. Marshall, the President, CEO and a director of the Company, purchased 1,250,000 Units; Terrace L. Nixon, the Chief Compliance Officer and a director of the Company, purchased 1,600,000 Units; James Marks, Chairman of the Company, purchased 751,035 Units; Dong H. Shim, the CFO of the Company, purchased 300,000 Units through his company, Golden Tree Capital Corp.; Paul Litchfield, a director of the Company, purchased 460,000 Units; and Daniel Raczykowski, a director of the Company, purchased 456,840 Units in the Private Placement.

As a result, the Private Placement is considered a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101")). The Company is relying on section 5.5(a) and 5.7(a) as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Private Placement will exceed 25 percent of the Company's market capitalization (calculated in accordance with MI 61-101).

No finder's fees were paid in connection with the closing of the first tranche of the Private Placement. All securities issued in the Private Placement are subject to the TSX Venture Exchange (the "Exchange") hold period plus a hold period of four months and one day expiring on April 17, 2023.

The Company also announces that it has obtained a 30-day extension from the Exchange to close the final tranche of the Private Placement. The final closing of the Private Placement is expected to occur in January 2023 and remains subject to the approval of the Exchange.

About Mission Ready Solutions Inc.

Mission Ready Solutions provides comprehensive government contracting solutions with extensive experience in delivering quality, reliable, mission-critical products and services for law enforcement, firefighters, first responders, military, and other governmental agencies.

Through its privileged access to a host of federal contracting vehicles, including Multiple Award Schedule ("MAS") contracts awarded and administered by the United States General Services Administration, Mission Ready's wholly-owned subsidiary, Unifire, Inc., leverages its robust vendor network, time-proven industry relationships, proprietary technology infrastructure, and industry-leading manufacturing and distribution capabilities to efficiently source and deliver more than 1.5 million products.

For further information on Mission Ready Solutions Inc., please visit MRSCorp.com.
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Mission Ready Solutions Inc.

(Signed "Buck L. Marshall")

Buck L. Marshall
President, CEO and Director
T: +1 877.479.7778

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

Forward-Looking Information

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 Solutions 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 Solutions Inc. to be materially different from those expressed or implied by such forward-looking information. 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 Solutions Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.

SOURCE Mission Ready Solutions Inc.

Investor Relations Contact: Dominic Gray, [email protected], T: +1 877.479.7778 (Ext.5)