VANCOUVER, British Columbia, Dec. 13, 2019 (GLOBE NEWSWIRE) -- Further to its news release dated December 5, 2019, Mission Ready Solutions Inc. (“Mission Ready” or the “Company”) (TSXV: MRS) is pleased to elaborate on the Company’s ongoing growth initiatives to support and bolster its growing government contracting division, Unifire, Inc. (“Unifire”), which is projected to contribute $19,000,000 in revenues for fiscal 2019 – an increase of 600% over the Company’s aggregate revenues for fiscal 2018.

SOE Contract | Bridge

A portion of the contract awards in the Company’s current order queue, which includes scheduled shipments through the 1st quarter of 2021, were received through the previously announced bridge contract (the “SOE Bridge”) through the Defense Logistics Agency (“DLA”) which extends the Company’s current Tailored Logistics Support (“TLS”) Special Operations Equipment (“SOE”) contract through March 6, 2020. The SOE Bridge contract – carrying a maximum dollar value of USD $4 billion – was awarded to the six incumbent SOE contract holders, including Unifire, and continues coverage of the full line of SOE and incidental services under the DLA Troop Support TLS SOE program. Additional information on the SOE Bridge Contract can be found at the following link: https://dod.defense.gov/News/Contracts/Contract-View/Article/1779133/

SOE Contract | Renewal

On December 5, 2019, the Company announced that it will be seeking clarification and exploring the availability of options to retain its status as an SOE contracting partner (“Prime Vendor”) following a notice that it had received from the DLA stating that its proposal “is being excluded from the competitive range and will not be given further consideration for award.” The Company has not received indication as to when the SOE renewal will be awarded – or whether it will be further extended – and will remain focused on winning awards through the SOE program as an incumbent Prime Vendor. Unifire has forged a long-standing and robust relationship with the Defense Logistics Agency and Company management are excited to further build this relationship moving forward.

Jeffery Schwartz, President & CEO of Mission Ready, states, “The fundamental basis of our bid to acquire Unifire was rooted in its unique government contracting framework, developed, refined and codified over the course of its 32 years in business. Since the acquisition of Unifire in April 2019, the Company’s sales trajectory has been on a steep incline as a result of the strategic combination of new capital facilities with Unifire’s highly-specialized processes and deeply-rooted industry relationships. Our exceptional framework, which continues to prove invaluable to the Company in performing on our current catalog of government contracts, is highly scalable and can be efficiently adapted to facilitate a wide range of government contracting vehicles including DLA programs, GSA Schedules, Blanket Purchase Agreements and commercial sales opportunities, to name a few.”

GSA & Other Government Contracting Vehicles

The Company will continue to develop processes to improve its solicitation readiness as a holder of multiple government contracts including three General Services Administration (“GSA”) Schedules (“GSA Schedules”) with a combined procurement value estimated at $2.2 billion annually (based on 2018 figures), an aggregate of $11 billion over the term of the Company’s current GSA Schedules.

The Company recently reported that its newly-implemented processes and procedures have been developed to facilitate the full scope of government contracts held by the Company, including its GSA Schedules. All three of the GSA Schedules held by the Company have recently been renewed on the first of three 5-year option periods following the initial 5-year base. The potential duration of each contract is 20 years, assuming the exercise of all option periods. The Company’s current GSA Schedules include:

 Schedule 84Schedule 78Schedule 51V
DescriptionSecurity, Fire & Law EnforcementSports, Promotional, Outdoor, Recreation, Trophies & SignsHardware Superstore
Recent RenewalMay 31, 2018September 27, 2018February 1, 2018
Option Period1 of 31 of 31 of 3
Sales - 2018$1.3 Billion$145 Million$840 Million

GSA Overview
The General Services Administration is an independent agency of the United States government established in 1949 to help manage and support the basic functioning of federal agencies. GSA supplies products and communications for U.S. government offices, provides transportation and office space to federal employees, and develops government-wide cost-minimizing policies and other management tasks. GSA Schedule contracts were created to streamline government purchasing of commercial products and services, leveraging the buying power of the United State federal government.

Facilitating a combined value of ~USD $60 billion in procurements annually, GSA Schedules – also referred to as Federal Supply Schedules (“FSS”) and Multiple Award Schedules (“MAS”) – are long-term government-wide contracts with commercial firms providing federal, state, and local government buyers access to more than 11 million commercial products and services at volume discount pricing. GSA Schedule contracts are multiple award, indefinite delivery/indefinite quantity (“IDIQ”) contracts awarded to responsible companies that offer commercial supplies or services at fair and reasonable prices. Products and services are ordered directly from GSA Schedule contractors and deliveries are made directly to the customer.

Schedule 84 is one of most successful and highly sought-after schedules in the GSA MAS program, due in part to its expansive nature. GSA Schedule 84 is designed to function as the government’s premier vehicle for purchases of solutions for law enforcement and security at state, local, and federal levels. Examples of the most prevalent offerings under Schedule 84 include:

  • Law Enforcement and Security Training
  • Wildland Firefighting
  • Marine Craft
  • Medical Kits
  • Special Purpose Clothing
  • Physical Access Control Systems
  • Perimeter Security/Detection Systems
  • Helicopter Equipment and Products for Search and Rescue

MAS Consolidation
On October 1, 2019, GSA announced a consolidation of the 24 purchasing schedules that comprise the Multiple Award Schedule into a single schedule for products, services, and solutions by the end of FY 2020. A unified schedule will provide consistent terms and conditions to simplify the procurement process for agency buyers and industry sellers. The MAS Transformation initiative is one of four cornerstone projects underpinning GSA’s Federal Marketplace Strategy to modernize and simplify the buying and selling experience for customers, suppliers and acquisition professionals. The GSA announcement – available at https://www.gsa.gov/ – states: The new MAS solicitation is organized by large categories and subcategories. It was developed iteratively and incorporates feedback from customer agencies, the GSA acquisition workforce, and industry, including results from two Requests for Information. Specifically, the consolidated solicitation features a simplified format, streamlined terms and conditions, and new categories and Special Item Numbers. This new format will make it easier for contractors to offer products, services, and solutions, and for agency partners to find them.

Summary

Key Initiatives & Highlights

  • Mission Ready remains an incumbent TLS SOE Prime Vendor and will continue working diligently to win awards through its SOE Bridge contract.
  • Mission Ready will provide timely market updates on all material events, including further developments or clarifications related to its TLS SOE contract.
  • The Company’s senior management team has over 120 years of combined government contracting experience.
  • The Company is finalizing its submission to GSA for the inclusion of its full catalog of in-house manufactured armor and nylon products on the GSA Schedule contract.
  • The aggregate combined procurement value of GSA Schedules 84, 78 and 51V is estimated at $2.2 billion annually, $11 billion over the current option period.
  • GSA facilitates an estimated USD $60 billion in procurements annually.
  • Due to the vastness of the sales opportunities capturable under any one of the large government contracts held by Unifire – for process and cost efficiency – management has historically dedicated the greater part of its available resources to a specific contracting vehicle, namely the TLS SOE program – Prior to the acquisition of Unifire, management recognized the tremendous sales potential across its GSA Schedules and established a top directive to prioritize the scale-up of its GSA business as quickly as personnel and capital resources will allow. The Company is currently taking steps to ready its internal processes for the MAS Consolidation and ensure a seamless transition as GSA implements the second and third (final) phases of the MAS Transformation initiative during 2020.

The CAD figures referenced herein have been converted from US currency (USD) to Canadian currency (CAD) using an exchange rate of 1.34.

About Mission Ready Solutions Inc.

Mission Ready specializes in providing comprehensive government contracting solutions through its privileged access to a host of government contracting vehicles including multiple General Services Administration (“GSA”) Schedules and the Tailored Logistics Support (“TLS”) Special Operations Equipment (“SOE”) contract administered by the United States Defense Logistics Agency (“DLA”).

Mission Ready’s wholly-owned subsidiary, Unifire, Inc. (“Unifire”), is 1 of 6 companies globally that is authorized to provide equipment and designated services under the multi-billion-dollar TLS program developed and supported by the DLA. Unifire is a designated Small Business and an industry-leading manufacturer and distributor of over 1.5 million fire, military, emergency, and law enforcement products. As an incumbent awardee of DLA’s SOE contract, with extensive knowledge and experience in providing solutions to the US Federal Government, Unifire utilizes its highly efficient and scalable technology infrastructure to provide procurement solutions for program managers, military and federal contracting offices, base supply centers, and other governmental supply agencies.

Mission Ready trades on the TSX Venture Exchange under the symbol MRS.

For further information, visit MRSCorp.com or contact:

Investor Relations

T: 1.877.479.7778 – Ext 5
E: IR@MRSCorp.com

Mission Ready Solutions Inc.

(signed “Jeffery L. Schwartz”)

Jeffery L. Schwartz,
President & CEO
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.

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.