Kratos Advanced Short Range Ballistic Missile Target Supports Successful Test of the Advanced Missile Defense Radar

SAN DIEGO, Sept. 21, 2017 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), a leading National Security Solutions provider, announced today that Kratos’ Space & Missile Defense Systems (SMDS) successfully supported the U.S. Navy as they completed the third test of the AN/SPY-6(V) Air and Missile Defense Radar (AMDR) against a live ballistic missile target. The successful test was conducted on September 7, 2017 against an advanced Short Range Ballistic Missile (SRBM) target, developed by Kratos and its Government and industry partners.

The Kratos SRBM target was launched from the Pacific Missile Range Facility in Kauai, Hawaii before it was acquired and tracked by the AN/SPY-6(V) AMDR. The AN/SPY-6(V) AMDR is slated to begin service on the U.S. Navy’s next generation Arleigh Burke Class Guided Missile Destroyer (DDG-51 Flight III) currently under development. The next generation radar promises to deliver improved range, accuracy and reliability over the SPY-1D(V) radar currently deployed on the US Navy’s Arleigh Burke class destroyers.       

The two stage separating SRBM target features selectable options for advanced scenario presentations. Kratos provided payload hardware including mechanical support structures, stabilizing fins, electrical event initiation systems, and staging and separation systems. In addition, Kratos personnel participated in mission planning, payload assembly, testing, target vehicle build-up and launch operations in support of the successful mission. Kratos is an industry leader in the rapid design, development, demonstration and fielding of technologically advanced and affordable systems.  Kratos is a leading provider of products, solutions, and services supporting ballistic missile defense, hypersonics, Aegis, AMDR, sounding rocket, high powered energy, directed energy, laser programs and other national security and scientific programs.

Mr. David Carter, President of Kratos’ Space & Missile Defense Systems, stated, “We are extremely proud of the accomplishments of our government and industry team, and we’re pleased to play a role in preparing AMDR for the fleet. Kratos looks forward to future opportunities to provide the most capable and affordable target solutions available to support the U.S. Navy and the Missile Defense Agency.”  

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops transformative, affordable technology for the Department of Defense and commercial customers. Kratos is changing the way breakthrough technologies for these industries are brought to market through proactive research and a streamlined development process. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, training and combat systems. For more information, go to www.kratosdefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 25, 2016, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

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Kraken Awarded $2,000,000 Robotics Contract

ST. JOHN’S, NL
–(Marketwired – September 21, 2017) – Kraken Robotics Inc. (TSX VENTURE: PNG)(OTCQB: KRKNF) announced today that its wholly-owned subsidiary, Kraken Robotic Systems Inc. has been awarded a contract valued at over $2,000,000. The contract entails the delivery of advanced sensors, underwater robotics and software. Delivery of the entire contract is expected in 4Q 2017. Further contract terms and program details are confidential.

Karl Kenny, Kraken President and CEO said, “We’re delighted with this contract award from a highly valued customer. Over the past 18 months, Kraken has made a series of prudent investments in people and technology to advance the performance and affordability of our sensors and underwater robotics. It’s increasingly evident by our recent contract awards that these investments are paying off. The proven capabilities and reliability of our solutions provide our customers with a true technological edge for subsea survey applications in the Unmanned Maritime Vehicle (UMV) industry.”

The global UMV market is experiencing an advanced rate of growth due to increasing demand in military, commercial and scientific research applications. Significant growth is expected in the commercial sector, predominately from oil and gas operators – despite the volatility of oil prices. There has also been substantial interest in the technology from the offshore renewable energy sector, as operators have begun to understand the cost saving potential of robots for inspection of underwater assets. A recent research report by Grace Market Data, entitled Global Unmanned Maritime Vehicles 2017-2025, estimates a cumulative capital expenditure of US$66.9 billion will be spent during the period. This will be driven by the increased international adoption of Remotely Operated Vehicles (ROVs), Autonomous Underwater Vehicles (AUVs), and Unmanned Surface Vehicles (USVs).

ABOUT KRAKEN ROBOTICS INC.

Kraken Robotics Inc. (TSX VENTURE: PNG) is a marine technology company, founded in 2012, that is dedicated to the production and sale of software, sensors and robotic systems for the global Unmanned Maritime Vehicles market. For more info, please visit www.krakenrobotics.com, www.krakenrobotik.de, and www.krakenpower.de.

Certain information in this news release constitutes forward-looking statements. When used in this news release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company’s current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company’s public disclosure documents. Many factors could cause the Company’s actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.

For further information, please contact:

Sean Peasgood
Investor Relations
(416) 565-2805
sean@sophiccapital.com

Stephen Harpur
Investor Relations
(604) 306-6142
steve@harpurinc.com

Greg Reid
Chief Financial Officer
(416) 818-9822
greid@krakenrobotics.com

Glenda Leyte
Marketing Manager
(709) 757-5757 extension 288
gleyte@krakenrobotics.com

Mission Ready Signs Distribution Agreement to Supply Protect The Force Products for Foreign Military

VANCOUVER, British Columbia, Sept. 06, 2017 (GLOBE NEWSWIRE) — Mission Ready Services Inc. (“Mission Ready” or the “Company” or the “Manufacturer”) (TSX VENTURE:MRS) announces that it has signed a 5-year, multi-million dollar exclusive distribution agreement (the “Agreement”) with a US-based contracting partner (the “Distributor”) to manufacture and supply Flex9Armor and No-Contact Tactical Shield Covers – among other Protect The Force (“PTF”) products – for a large foreign military.

The Agreement includes annual minimum purchase volumes – USD$50MM for 2017 through December 31, 2018 – which must be met in order for certain Distributor provisions to remain in effect, including regional exclusivity and an automatic renewal of the contract in 2022 for an additional 5-year term.

Material Terms of the Agreement include:

  • Minimum Purchases (USD): Year 1 (2018), $50MM; Year 2 (2019), $50MM; Year 3 (2020), $100MM; Year 4 (2021), $100MM; Year 5 (2022), $100MM.
  • Advance Payments: Distributor agrees to pay Mission Ready (the “Manufacturer”) a down payment equal to forty percent (40%) of the purchase order amount within 10-days of submitting the purchase order.
  • Exclusivity: Manufacturer appoints Distributor, on an exclusive basis, as its sole distributor for the defined territory.

Pursuant to the terms of the Agreement, the Distributor shall purchase a sufficient amount of products from Manufacturer so as to meet or exceed the minimum purchase requirements set forth above; provided, however, that purchases of products in excess of the minimum purchase requirement for any period shall be credited towards the minimum purchase requirements for subsequent periods. For the purposes of this provision, a “purchase” of products within a specified time period shall mean paying Manufacturer for such products on or before the last day of such period. Failure to meet such minimum requirements shall constitute a material breach of the Agreement provided, however, that in lieu of terminating the Agreement, Manufacturer may instead elect in its sole discretion to change the exclusive rights granted to Distributor for its defined territory.

MediaTech Capital Partner’s Porter Bibb, who recently partnered with Mission Ready (see Company’s news release dated August 2, 2017), states, “Mission Ready’s impressive new management team has delivered on its promise to put Mission Ready on a fast track to rapid growth and significant profitability as a market leader in the burgeoning military and public safety tactical equipment sector.” MediaTech will assist the Company with obtaining bridge loan capital for raw materials, as required, and will help to facilitate the rapid expansion of the Company’s manufacturing and sales divisions.

This distribution agreement is the first of several additional developing national and international opportunities in the Company’s growing sales backlog. With strengthening sales to U.S. military and law enforcement agencies, Mission Ready has begun to develop an aggressive global marketing initiative to extend its sales pipeline into other sovereign nations.

“The excitement that is building around the PTF product line is proof positive of the global appeal of Mission Ready’s innovative technology and cost-efficient products including its Flex9Armor and No-Contact Tactical Shield technologies, both designed to save lives and provide users with a unique protection in crowd control and other close quarter situations,” states Jeffery Schwartz, President & CEO of Mission Ready.

Schwartz continued, “Mission Ready’s expertise in intelligent textiles and defense-related technologies is a prime reason this distributor has chosen our patented, proprietary products which have been designed to meet the growing demand for maximum reliability and affordable protection for both military and law enforcement applications. We are positioning ourselves as a global market leader and expect to grow organically and through acquisitions since the tactical equipment market is a very fragmented, cottage industry ripe for consolidation.”

About Mission Ready Services Inc.
Mission Ready serves to save lives and enhance the performance of military personnel, first responders, and those who protect us by working to ensure they are equipped with the best possible personal protective equipment.

Headquartered in Vancouver, BC, Mission Ready has three distinct, synergistic operating divisions:

  • Innovations and Development of Personal Protective Equipment
  • Manufacturing of Leading Military & Law Enforcement Personal Protective Equipment
  • Cleaning, Decontamination & Repair of Personal Protective Equipment

Mission Ready’s management team offers over 100 years of combined industry experience and is composed of industry experts in developing products, contracting, and selling to the federal government, first responders and tactical markets through open market procurements, teaming arrangements, and a variety of federal contract tools.

For further information, visit MissionReady.ca or ProtectTheForce.com

Mission Ready Services Inc.

(signed “Jeff Schwartz”)

Jeff Schwartz,
President & CEO

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by Mission Ready Services Inc. as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mission Ready Services Inc. to be materially different from those expressed or implied by such forward-looking information.

Forward-looking statements are based on assumptions management believes to be reasonable. Although Mission Ready Services Inc. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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. Accordingly, readers should not place undue reliance on forward-looking information.  Mission Ready Services Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Terry Nixon - Director, Corporate Communications
Telephone: 1.877.479.7778

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