AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”) the
owner of GunBroker.com, the largest online marketplace serving the
firearms and shooting sports industries, and a leading vertically
integrated producer of high-performance ammunition and components,
is pleased to announce it has begun both manufacturing and domestic
distribution of its .50 BMG (M33) High Accuracy ammunition out of
its newly opened Wisconsin plant.
While its new 185,000 sq. ft. state-of-the-art
manufacturing facility was being constructed within budget and on
schedule, AMMO continued its investment in manufacturing assets for
deployment in the new plant to increase capacity and answer the
bell for market demands. One such example is the new .50 BMG
manufacturing line now operating at the Wisconsin facility. Product
has successfully run off the line, passed testing and shipped
domestically. The Company’s market leading armor piercing (“AP”)
and armor piercing incendiary (“API”) with technology developed and
refined over the past 12-18 months is presently in the process of
load development, loading and testing to be ready for legally
authorized distribution.
Following AMMO’s Spring 2022 donation of 1
million rounds of ammunition to support the Ukrainian MOD’s
opposition to Russia’s unlawful and violent invasion, we have
continued to receive regular and increasing inquiries for
ammunition from European (principally Eastern European) customers
for small arms ammunition, with a focus on larger rounds and
certainly .50 BMG in the ball, AP and API varieties. Even when
fully operational, AMMO reasonably anticipates demand will quickly
outstrip the Company’s .50 BMG capacity of 2 million rounds/month
(e.g., 24 million rounds/year) such that production expansion
opportunities are being pursued with proper planning in place. At
current capacity and subject to product mix, AMMO’s .50 BMG line is
capable of generating an additional $80 million in annual revenue
to the top line.
About AMMO, Inc.
With its corporate offices headquartered in
Scottsdale, Arizona, 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 specialty rounds for military and law enforcement
use via government programs. For more information, please
visit: www.ammo-inc.com.
About GunBroker.com
GunBroker.com is the largest online marketplace
dedicated to firearms, hunting, shooting and related products.
Aside from merchandise bearing its logo, GunBroker.com currently
sells none of the items listed on its website. Third-party sellers
list items on the site and Federal and state laws govern the sale
of firearms and other restricted items. Ownership policies and
regulations are followed using licensed firearms dealers as
transfer agents. Launched in 1999, GunBroker.com is an informative,
secure and safe way to buy and sell firearms, ammunition, air guns,
archery equipment, knives and swords, firearms accessories and
hunting/shooting gear online. GunBroker.com promotes responsible
ownership of guns and firearms. For more information, please
visit: www.gunbroker.com.
Forward Looking Statements
This document contains “forward-looking
statements” within the meaning of the safe harbor provisions of the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words like “may,”
“will,” “likely,” “should,” “expect,” “anticipate,” “future,”
“plan,” “believe,” “intend,” “goal,” “seek,” “estimate,” “project,”
“continue,” and similar expressions. Forward-looking statements are
neither historical facts nor assurances of future performance.
Instead, they are based only on current beliefs, expectations and
assumptions regarding the future of the business, future plans and
strategies, projections, anticipated events and trends, the
economy, and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks, and changes in circumstances that are
difficult to predict. Actual results and financial condition may
differ materially from those indicated in the forward-looking
statements. Therefore, you should not rely on any of these
forward-looking statements. The risks and uncertainties which
forward-looking statements are subject to include, but are not
limited to: risks related to the separation of our ammunition and
marketplace businesses, including that the process of exploring the
transaction and potentially completing the transaction could
disrupt or adversely affect the consolidated or separate
businesses, results of operations and financial condition, risks
related to Action Outdoor Sports, Inc. (“AOS”) not being able to
recruit the appropriate members of its executive management team or
board of directors, risks related to the transaction not being
completed in accordance with our expected plans or anticipated
timelines, or at all, risks related to the transaction not
achieving some or all of any of the anticipated benefits with
respect to either business, and risks related to AOS’s ability to
succeed as a standalone publicly traded company. 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 Current Reports filed on Form 8-K.
Important Additional Information and
Where to Find It
AMMO, Inc. (the “Company”) intends to file a
proxy statement on Schedule 14A, an accompanying WHITE universal
proxy card and other relevant documents with the Securities and
Exchange Commission (“SEC”) in connection with its solicitation of
proxies from the Company’s shareholders for the Company’s 2022
Annual Meeting of Shareholders (the “Annual Meeting”). BEFORE
MAKING ANY VOTING DECISION, SHAREHOLDERS OF THE COMPANY ARE
STRONGLY ENCOURAGED TO READ THE COMPANY’S DEFINITIVE PROXY
STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ALL
OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY
WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION. Investors may obtain copies of the Company’s proxy
statement, proxy card, any amendments or supplements thereto and
other documents filed by the Company with the SEC when they become
available at no charge at the SEC’s website at www.sec.gov. Copies
will also be available at no charge in the “SEC Filings” section of
the Company’s Investor Relations website at
https://investors.ammoinc.com or by contacting the Company’s
Investor Relations Department at IR@ammo-inc.com after such
materials are electronically filed with, or furnished to, the
SEC.
Certain Information Regarding
Participants to the Solicitation
The Company, its directors and certain of its
executive officers are participants in the solicitation of proxies
from the Company’s shareholders in connection with matters to be
considered at the Annual Meeting. Information regarding the direct
and indirect interests, by security holdings or otherwise, of the
Company’s directors and executive officers in the Company is
included in the Company’s Proxy Statement on Schedule 14A for its
2021 Annual Meeting of Shareholders, filed with the SEC on
September 13, 2021, the Company’s Annual Report on Form 10-K for
the year ended March 31, 2022, filed with the SEC on June 29, 2022,
and in the Company’s Current Reports on Form 8-K filed with the SEC
from time to time. Changes to the direct or indirect interests of
the Company’s directors and executive officers are set forth in SEC
filings on Initial Statements of Beneficial Ownership on Form 3 or
Statements of Change in Ownership on Form 4. These documents are
available free of charge as described above. Updated information
regarding the identities of potential participants and their direct
or indirect interests, by security holdings or otherwise, in the
Company will be set forth in the Proxy Statement for the Annual
Meeting and other relevant documents to be filed with the SEC, if
and when they become available.
Media Contact:Victoria WelchAMMO, Inc.Phone:
(480) 947-0001vwelch@ammoinc.com
Investor ContactMatt Blazei Phone: (516)
386-0430 IR@ammo-inc.com
Source: AMMO, Inc.
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