SCOTTSDALE, Ariz., Feb. 24, 2020 (GLOBE NEWSWIRE) — AMMO, Inc.
(OTCQB: POWW) (“AMMO” or the “Company”), a premier American ammunition
and munition components manufacturer and technology leader, has received
a $4.9 million purchase order to deliver .50BMG ammunition casings to
an international customer.
AMMO expects to fulfill the purchase order over the course of the next 12 months utilizing the Company’s Jagemann munition components production facility located in Manitowoc, Wisconsin. This is the second seven-figure purchase order AMMO has received since the launch of its .50 caliber brass casing production line at the Jagemann facility in October 2019.
“Demand for .50BMG brass continues to increase in both the U.S. and international markets,” said Fred Wagenhals, AMMO’s CEO. “With our recently launched .50 caliber production line and expanded capacity, we now have the capabilities to meet this significant need in the market and deliver high-quality .50 caliber brass. As a result, our team is receiving an increasing number of inbound requests. In fact, we have already entered into two significant purchase orders since opening the production line and we anticipate more to follow in the near future.”
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. Jagemann Munition Components is a wholly-owned AMMO subsidiary based in Wisconsin, and is an industry leading brass casing designer and manufacturer supporting the global ammunition industry. 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.
Gateway Investor Relations
Phone: (949) 574-3860
President of Global Commercial Sales & Marketing
Phone: (480) 530-2827
firstname.lastname@example.org Source: AMMO, Inc.
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