AMMO, INC. SCOTTSDALE, Ariz., May 14, 2020 (GLOBE NEWSWIRE) -- AMMO, Inc. (OTCQB: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, has received two purchase orders totaling approximately $5 million.
One of the world's largest producers of sporting ammunition placed an order for approximately $2 million worth of shell casings. AMMO expects to fulfill the purchase order over the course of the next six months utilizing the Company’s Jagemann munition components production facility located in Manitowoc, Wisconsin.
In addition, an existing AMMO customer, who is one of the largest outdoor specialty chains in the United States, issued a purchase order for approximately $3 million to deliver loaded ammunition of all calibers produced by the Company throughout the remainder of calendar year 2020. This purchase order does not take into account the seasonal increase in demand created by “Black Friday” advertising and spending at Thanksgiving.
“Year-to-date, we have received four seven-figure purchase orders, reflecting continued strength in the commercial and retail markets for brass and loaded ammunition,” said Fred Wagenhals, AMMO’s CEO. “We received these orders predicated on our ability to deliver product that exceeds our customer’s requirements. We currently have more seven figure proposals outstanding than at any time in our history and we look forward to continuing to meet our customers’ increased demand during this unprecedented time.”
About AMMO, Inc.
AMMO was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. The Company designs and manufactures products for a variety of markets, including law enforcement, military, hunting, sport shooting and self-defense. AMMO promotes branded munitions, including its patented STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, O.W.L. Technologies®, and Night OPS (One Precise Shot) – a lead-free frangible tactical line of munitions for self-defense. The Company’s corporate offices are headquartered in Scottsdale, Arizona. Manufacturing operations are based in both northern Arizona and Manitowoc, Wisconsin. For more information please visit: www.ammoinc.com.
Forward Looking Statements
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Forward looking statements may include the words “may,” “could,” “estimate,” “intend,” “continue,” “believe,” “expect” or “anticipate” or other similar words, or the negative thereof. These forward-looking statements present our estimates and assumptions only as of the date of this report. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. We do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the dates they are made. You should, however, consult further disclosures and risk factors we include in Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Reports filed on Form 8-K.
In our filings with the Securities and Exchange Commission, references to “AMMO, Inc.”, “AMMO”, “the Company”, “we,” “us,” “our” and similar terms refer to AMMO, Inc. and its wholly owned operating subsidiaries The Enlight Group (d/b/a Jagemann Munition Components), SNI, LLC and Ammo Technologies, Inc.
Investor Contact:
Cody Slach
Gateway Investor Relations
Phone: (949) 574-3860
POWW@gatewayir.com
