AMMO, Inc. Agrees to Repurchase 1,000,000 Shares for $1.5 Million
15 January 2021 - 12:30AM
AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier
American ammunition and munition components manufacturer and
technology leader, is pleased to announce that its Board of
Directors has authorized the Company to enter into an agreement to
repurchase 1 million shares of its common stock for $1.5 million.
AMMO has exercised an existing contract right
with Jagemann Stamping Company to repurchase 1 million shares of
the Company’s common stock (the “Shares”) for $1.5 million
($1.50/share) which represents approximately 2% of the Company’s
outstanding common shares. The Company will promptly retire the
Shares upon consummation of the transaction.
“The repurchase of these Shares reaffirms our
optimism and confidence in the long-term future of our business,”
said Fred Wagenhals, AMMO’s Chairman and CEO. Mr. Wagenhals further
commented that “we are always mindful of the critical importance of
deploying capital in a balanced manner. By repurchasing the Shares
and retiring them, we will reduce shareholder dilution while
further supporting the demand and share price for the benefit of
our shareholders. These metrics are always of critical importance
to our Board, management team and shareholders at large.”
About AMMO, Inc.
With its corporate offices headquartered in
Scottsdale, Arizona. AMMO, Inc. (the “Company and/or AMMO”) designs
and manufactures products for a variety of aptitudes, including law
enforcement, military, sport shooting and self-defense. The Company
was founded in 2016 with a vision to change, innovate and
invigorate the complacent munitions industry. AMMO promotes branded
munitions as well as its patented STREAK™ Visual Ammunition,
/stelTH/™ subsonic munitions, and armor piercing rounds for
military use. For more information please
visit: www.ammo-inc.com.
Forward Looking Statements
This document contains certain “forward-looking
statements”. All statements other than statements of historical
fact are “forward-looking statements” for purposes of federal and
state securities laws, including, but not limited to, any
projections of earnings, revenue or other financial items; any
statements of the plans, strategies, goals and objectives of
management for future operations; any statements concerning
proposed new products and services or developments thereof; any
statements regarding future economic conditions or performance; any
statements or belief; and any statements of assumptions underlying
any of the foregoing.
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.
Investor Contact:Rob Wiley, CFOAMMO, Inc.Phone:
(480) 947-0001IR@ammo-inc.com
AMMO (NASDAQ:POWW)
Historical Stock Chart
From Apr 2024 to May 2024
AMMO (NASDAQ:POWW)
Historical Stock Chart
From May 2023 to May 2024