Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 19, 2021, Mr. Randy Luth informed the Board of Directors (the "Board") of Ammo, Inc. (the "Company) that he was resigning as a member of the Board, effective immediately. Mr. Luth's resignation was not a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

Effective January 19, 2021, the Board appointed Richard Childress as a member of the Board. The Board determined that Mr. Childress qualifies as independent under the director independence standards set forth in the rules and regulations of the Securities and Exchange Commission and applicable NASDAQ listing standards. Mr. Childress was appointed to serve as a member of the Board's Audit Committee.

There is no arrangement or understanding between Mr. Childress and any other persons pursuant to which Mr. Childress was selected as a director, and there are no related party transactions involving Mr. Childress that are reportable under Item 404(a) of Regulation S-K. Mr. Childress will receive ten thousand (10,000) shares of the Company's common stock each quarter, pursuant to the Company's Ammo, Inc. 2017 Equity Incentive Plan, as compensation for his service on the Board.

Below is a description of Mr. Childress professional work experience.

Richard Childress, Age 75, Director

Mr. Childress has owned Richard Childress Racing since 1969 and Childress Vineyards since 2004. In addition to starting Richard Childress Racing, Mr. Childress was a NASCAR driver from 1969 to 1981. Mr. Childress served as the First Vice President of the board of directors of the National Rifle Association (the "NRA") from 2017 to 2019. Mr. Childress was inducted into the NASCAR Hall of Fame in 2017. The Board believes Mr. Childress' business success over many decades, his service on the board of the NRA, and his support of local, regional, and national hunting, shooting, and conservation organizations qualify him serve on the Board.




Item 8.01 Other Events.

On January 20, 2021, the Company issued a press release announcing Mr. Childress' appointment to the Board and Mr. Luth's resignation. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits.




Exhibit Number   Description
99.1               Press Release dated January 20, 2021

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