00:14:13 EDT Tue 14 May 2024
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Mission Ready directors, officers exit amid turmoil

2023-07-19 11:45 ET - News Release

An anonymous representative reports

MISSION READY ANNOUNCES RESIGNATIONS OF BOARD OF DIRECTORS AND LEADERSHIP TEAM MEMBERS

Mission Ready Solutions Inc.'s board of directors and leadership team members have resigned, effective June 30, 2023.

The current circumstances created by prolonged delays in government awarding associated with pending solicitations, along with the recent exclusion from the ballistic combat shirt competitive range and the lack of visibility into additional long-term revenues and contracts, have made it impossible to continue with the status quo. As a result, members of the board believe they can no longer satisfy their fiduciary duties to the company and the shareholders. The board has, therefore, resigned, as has the president/chief executive officer, the chief financial officer and the director of corporate communication of Mission Ready, along with the president and the chief financial officer of Unifire, and other leadership team members.

Consequently, the company does not meet the TSX Venture Exchange Tier 2 continued listing requirements. Therefore, the TSX-V has advised the company that trading will be suspended, and its listing will be transferred to the NEX board. The NEX is a separate trading board of the TSX-V that provides a trading forum for companies that have fallen below the TSX-V's continuing listing standards. The company will remain on the NEX until such time it can fulfill the conditions to graduate to TSX-V or defaults on the NEX policies or listing requirements.

The company's trading symbol will change from MRS to MRS.H on the effective date as a result of the transfer to the NEX. The ".H" symbol extension differentiates NEX symbols from other symbols on the main stock list of the exchange.

The company's shares under its United States listing have also been transferred to the Pink Open Market -- current information status due to the halt.

We seek Safe Harbor.

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