Mission Ready Closes Private Placement

VANCOUVER, British Columbia, April 02, 2019 (GLOBE NEWSWIRE) — Mission Ready Solutions Inc. (“Mission Ready” or the “Company”) (TSXV: MRS) is pleased to announce that it has completed the non-brokered private placement (the “Offering”) described in its news release of March 8, 2019. In connection with the closing of the Offering, the Company issued an aggregate of 10,889,500 units (the “Units”) at a price of CDN$0.25 per Unit for gross proceeds of CDN$2,722,375. Each Unit consists of one common share in the capital of the Company (a “Share”) and one whole transferable common share purchase warrant (a “Warrant”). Each whole Warrant is exercisable to acquire one Share at an exercise price of CDN$0.40 per Share until April 2, 2020 which is 12 months from the date of issuance.

Insiders of the Company acquired an aggregate of 320,000 Units in the Offering, which participation constituted a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units acquired by the insiders, nor the consideration for the Units paid by such insiders, exceed 25% of the Company’s market capitalization. As required by MI 61-101, the Company advises that it expects to file a material change report relating to the Offering less than 21 days before completion of the Offering, which is necessary to complete the Offering in an expeditious manner and is reasonable in the circumstances.

The Company plans to use the proceeds of the Offering for advancing the Company’s targeted growth initiatives, to expand the Company’s sales pipeline and for general working capital.

The Company has paid cash commissions of $107,570.00 and issued 430,280 finder’s warrants (“Finder’s Warrants”) to finders as compensation in relation to the Offering. Each Finder’s Warrant is exercisable to acquire one Share at an exercise price of CDN$0.40 per Share until April 2, 2020.

The Offering remains subject to final approval of the TSX Venture Exchange.

The securities issued under the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.