Vancestor, British Columbia, Canada–The press wire –DDecember31, 2021 –Mission Ready Solutions Inc (“Ready for the mission“) (TSXV: MRS) (OTC: MSNVF), a provider of complete public procurement solutions is pleased to announce that it has been approved for a $ 6,000,000 ready (the “To lend“) from North West Shore of Coeur Alene, Idaho (a Idaho-chartered bank owned by Western capital company) (the “Lender») In order to facilitate the payment of certain amounts currently recognized in the Company’s balance sheet under the heading Suppliers and other payables.
In accordance with the terms of the loan, the Company has agreed to pay the lender a total of $ 87,651.33 per month which represents the principal and interest payments, from February 1, 2022 and ending on January 1, 2027 (the due date), the date on which all amounts due under the Loan will become fully due and payable. The interest payable on the loan will be the lender’s index rate (3.25% per annum on the effective date of the loan documents), plus 2.75%, which is subject to an adjustment of from time to time based on changes in an independent index. , being the Wall Street Journal prime rate. Other fees and conditions include an administration fee of 1.5% of the principal amount of the loan and a cash guarantee whereby the Company must maintain a minimum balance of at least $ 800,000 in a reserve account (the “Reserve account”) To which the Lender will be granted security during the term of the Loan. Upon full repayment of the loan, any funds remaining in the reserve account (the balance of funds that have not previously been applied to the loan, as applicable) will be returned to the company.
Unless otherwise indicated, all monetary values referenced here are in United States Dollars.
About the Northwest Bank
The Northwest Bank was launched in Boise, Idaho, in March 2008. Northwest Bank is focused on serving small and medium-sized businesses, professionals and non-profit organizations from branches in Idaho, Oregon, Washington and Utah. The Northwest Bank is owned by Western capital company, a banking holding company, and is approved in Idaho.
On Mission Ready Solutions Inc.
Mission ready solutions provides complete public procurement solutions with a wealth of experience in delivering quality, reliable and mission-critical products and services to law enforcement, firefighters, first responders, military and military. other government agencies.
Thanks to its privileged access to a multitude of federal contract vehicles, including the multi-award program (“MAS“) contracts awarded and administered by the United States General Service Administration, a 100% subsidiary of Mission Ready, Unifire, Inc., leverages its strong supplier network, proven industry relationships, proprietary technology infrastructure, and industry-leading manufacturing and distribution capabilities to efficiently source and deliver over 1.5 million products. .
For more information on Mission Ready Solutions Inc., please visit MRSCorp.com or contact Investor Relations by email at [email protected] or by phone at +1 877.479.7778 (ext. 5). You can also subscribe to our mailing list at eepurl.com/hznhX9 to receive our press releases and the latest news directly by email.
Mission Ready Solutions Inc.
(Signed “Buck L. Marshall”)
Buck L. MarshallPresident, CEO and Director
T: +1 877.479.7778
No more TSX Venture Exchange nor its regulatory service provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terms such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “Plan”, “plan”, “budget”, “schedule”, “may”, “will”, “could”, “could”, “should” or variations of these words or of similar words or expressions. Forward-looking information is based on reasonable assumptions made by Mission Ready Solutions Inc. as of the date of this information and is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of Mission Ready Solutions Inc. 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. Therefore, readers should not place undue reliance on forward-looking information. Mission Ready Solutions Inc. does not undertake to update any forward-looking information included in this document, except in accordance with applicable securities laws.
Copyright (c) 2021 TheNewswire – All rights reserved.
Copyright (c) 2021 TheNewswire – All rights reserved., Source Press Releases