ARNPRIOR, ONTARIO -- (Marketwired) -- 05/06/15

Pacific Safety Products Inc. (TSX VENTURE:PSP) ("PSP" or the "Company"), announced today that the Company's U.S subsidiary, operating under the GH Armor Systems brand, received a contract valued at US$467,900 from the U.S. Navy for the production of ballistic vests to be delivered in June and July of this year.

GH Armor Systems won this contract in open competition against the best of our North American competitors. This win represents new business for the Company.

"Our U.S. operations are beginning to see signs of improved business activity" states Chief Executive Officer, Terry Vaudry. "Previously, we reported that both the U.S. and Canadian operations completed a year-long product line refresh. This has taken weight and cost out of the vast majority of our products, making our product line more competitive in the marketplace.

At Shot Show, a trade show for sellers of military, law enforcement and tactical products held in January, GH Armor Systems soft launched a new product line of tactical vests. The Company engaged an industry design expert to create a best-in-class family of four vests. Tactical vests typically attract a higher selling price and gross margin than other industry product lines. The Company is scheduled to begin manufacturing the tactical vests in this month and already has a growing backlog of orders.

In the U.S., the Company typically books orders in the ranges of US$450,000 to US$550,000 per month on average. April bookings exceeded US$850,000 for the month, excluding the contract win announced above.

Refreshing our product line and launching a new line of tactical vests has allowed the Company to differentiate itself in a very competitive environment. GH Armor Systems sells its products through independent sales reps that service territories throughout the U.S. The Company has been successful in securing the services of several new sales reps who had been selling body armor for a competitor. Beginning in May, the Company will have seven new independent sales reps that will give the Company full geographic coverage in the U.S. and increase the Company's sale rep coverage to seventeen, more than the Company has ever employed. Each sales rep is 100% commission based and highly motivated to begin selling our product line.

"It is essential that we grow our U.S. business" states Chief Executive Officer, Terry Vaudry. "The size and scale of the U.S. market offers PSP a substantial opportunity to grow its market share. Being a Canadian based company reporting in CDN dollars we are poised to take full advantage of a strengthening U.S. dollar as our U.S. sales translates into higher returns here in Canada. A strengthening U.S. dollar also makes it harder for our U.S.-based competitors to compete with us in the Canadian marketplace".

The Company reported in its second quarter that it has seen early indications of revenues firming up and that trend has continued. In November of 2014, the Company announced a CBSA contract win. Those orders have now transitioned to manufacturing and the Company is seeing ongoing monthly volume that it believes will continue throughout the calendar year. PSP continues to track bidding opportunities in Canada that the Company believes will provide significant opportunities over the next two quarters.

PSP will report its Q3 results after the close of business on May 7th, 2015.

About PSP: The mission statement of Pacific Safety Products Inc. is ...we bring everyday heroes home safely®. PSP is an established industry leader in the production, distribution and sale of high-performance and high-quality safety products for the defence and security market. These products include body armour to protect against ballistic, stab and fragmentation threats, ballistic blankets to reduce blast effects, tactical clothing, and protective products against chemical and biological hazards. PSP is the largest body armour manufacturer in Canada, directly supplying the Canadian Department of National Defence, Federal Government Agencies and major Canadian law enforcement organizations. The Company, through its U.S. subsidiary Sentry Armor Systems Inc., provides body armour products under the GH Armor Systems® brand to U.S. based law enforcement and private security firms. The Company also produces tactical clothing. Pacific Safety Products is a reporting issuer in British Columbia, Alberta and Ontario, Canada and publicly trades under the symbol PSP on the TSX Venture Exchange.

Forward-Looking Information: This news release contains certain statements which may constitute "forward-looking information" within the meaning of applicable securities laws. These statements relate to, among other things, anticipated or assumed events with respect to the Company's business, the ability of the Company to realize on the on its U.S. sales and operations, and the Company's expectations and assumptions regarding future revenue, order volumes, sales margins and acceptance of new products in the market. The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Although the Company believes that the expectations conveyed by the forward-looking information are reasonable based on information currently available to it, these statements are based on management's expectations, estimates and projections and involve a number of risks, uncertainties and assumptions, both known and unknown. As a result, the results or events depicted in these forward-looking statements may differ materially from actual results or events. Many factors could cause results to differ materially from those stated including, but not limited to the impact of price and product competition, changes in general industry and market conditions, inability to successfully plan and execute cost reduction and business improvement strategies, ability to retain key staff, restrictions and covenants contained in credit agreements, fluctuations in currency, exchange and interest rates and commodity prices, ability to retain existing customer contracts, reliance on key customers, as well as various other factors which are discussed in the Company's filings with applicable securities regulatory authorities at www.sedar.com. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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.

Contacts:
Pacific Safety Products Inc.
Terry Vaudry
CEO
+1 (613) 623-6001
ir@pacsafety.com
www.pacsafety.com

CHF Investor Relations
Robin Cook
Senior Account Manager
+1 (416) 868-1079 ext. 228
jeanny@chfir.com
www.chfir.com