Mission Ready Announces New Purchase Orders, Provides SOE Protest Update

VANCOUVER, British Columbia, Oct. 08, 2020 (GLOBE NEWSWIRE) -- Mission Ready Solutions Inc. (“Mission Ready” or the “Company”) (TSXV: MRS) is pleased to announce that, further to its September 18, 2020 news release announcing new contract awards valued at an estimated $127 million, with a ceiling of $435 million (the “C&T Contracts”), and its September 25, 2020 news release reporting that it had received an aggregate of approximately $96 million in purchase orders (each purchase order, a “PO”) across the C&T Contracts, the Company has received $16 million in additional PO’s bringing the total received as of the date of this announcement to approximately $112 million.

All purchase orders received to date across the C&T Contracts call for delivery of the products between October 2020 and March 2021. In accordance with the terms of the C&T Contracts, the Defense Logistics Agency will remit payment to Unifire within 30 days of delivery of the products pursuant to each purchase order.

The related announcements referenced herein can be viewed at www.MRSCorp.com or via the direct links below:

September 25, 2020 – Mission Ready Announces $58.5 Million in New Purchase Orders
September 18, 2020 – Mission Ready Awarded New Contracts for an Estimated $127 Million with a Ceiling of $435 Million

SOE Protest Update
The Company provides the following update with respect to recent developments – and next steps – in the Company’s efforts to reverse a December 2019 decision by the U.S. Defense Logistics Agency (“DLA”) to exclude Unifire, Inc.’s (“Unifire”) proposal from the competition under SPE8EJ-18-R-0001 (Special Operational Equipment (“SOE”) Tailored Logistics Support (“TLS”) Program) (the “Pre-award Protest”). Further to a Company announcement dated March 11, 2020 related to the Pre-award Protest filed with the U.S. Court of Federal Claims (“COFC”), on October 6, 2020, Unifire filed a Notice of Appeal of the COFC’s judgement in response to a September 24, 2020 decision by the COFC denying Unifire’s challenge of the exclusion of its proposal from the competition. Unifire will pursue an appeal in the United States Court of Appeals for the Federal Circuit in addition to seeking a continued stay of the competition for the SOE TLS follow-on contracts while its appeal is pending.  Unifire believes that it has a meritorious claim that DLA’s decision to exclude Unifire’s proposal was made in a manner inconsistent with prescribed U.S. federal government regulations.  Unifire intends to prosecute its appeal vigorously.  The outcome of this proceeding cannot be predicted with certainty, and there can be no assurance that this protest will be resolved in a manner favorable to Unifire.