US DLA Exercises First One-Year Option Period for COTS Contract
Contract Description: Indefinite delivery, indefinite quantity ("IDIQ") contract to facilitate the delivery of products through the Company's vendor network in support of the United States Defense Logistics Agency ("DLA") Troop Support Clothing Textiles ("") supply chain
Contract Value: Up to USD $200,000,000 (the "Ceiling")
Product Description: Commercial off-the-shelf ("COTS") Shelter Systems
Performance Period: 1-year base ordering period (Dec. 3/22 through Dec. 2/23) with two 1-year option periods remaining (the "Term")
VANCOUVER, BRITISH COLUMBIA, CANADA – TheNewswire - DECEMBER 7, 2022 – Mission Ready Solutions Inc (Mission Ready or the Company) (TSXV:MRS) (OTC:MSNVF) (FSE:2R4), a provider of comprehensive government contracting solutions, is pleased to announce that, through its wholly-owned subsidiary, Unifire, Inc. ("Unifire"), the Company has received a one-year extension of its contract for COTS – Shelter Systems (SPE1C1-22-D-1506) (the "COTS Contract") in support of the DLA C&T supply chain, with a Ceiling of USD $200,000,000 (CAD $268,000,000 using a USD-CAD exchange rate of 1.34) over the Term of the Contract. The extension follows the initial contract award first announced by the Company in a news release dated December 3, 2021.
"This extension immediately succeeds a modest order the Company received in November and is currently working to fulfill, and we are excited for this opportunity to further elevate our stature on this contract," said Buck Marshall, President and CEO of Mission Ready. "The DLA's exercise of the first one-year period reinforces the government's sustained need for Unifire's unique solutions. In recent months, we have worked to maximize the potential value of the COTS Contract by bolstering our relationship with key suppliers in order to offer additional or alternative products across the COTS Contract."
Marshall added, " As we approach the end of 2022, we are seeing some movement in the opportunities pipeline. With our continued efforts to position the Company for growth, and our established track record providing governments with cutting-edge products and solutions, we are confident that these near-term catalysts will effectively translate into increased revenues and profits."
DLA COTS – Shelter Systems Program (the "Program")
The COTS – Shelter Systems program is a multiple-award, prime vendor contract, structured to accommodate the addition of products through the life of the contract. The Program's supply chain, at present, offers military tents, parts, and support equipment.
COTS Contract Terms
The IDIQ contract – with an initial 1-year base ordering period and three 1-year option periods – calls for the supply of COTS – Shelter Systems in support of the United States DLA Troop Support Clothing & Textiles supply chain, and specifies a maximum dollar value of USD $200,000,000.
About Mission Ready Solutions Inc.
Mission Ready Solutions provides comprehensive government contracting solutions with extensive experience in delivering quality, 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.
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Mission Ready Solutions Inc.
(Signed "Buck L. Marshall")
Buck L. Marshall
President, CEO and Director
T: +1 877.479.7778
Investor Relations Contact:
T: +1 877.479.7778 (Ext.5)
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