SCOTTSDALE, Ariz., June 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 six-figure purchase order from a European law enforcement agency for fully-loaded ammunition.
The purchase order is for .338 and .50 caliber ammunition, including both regular rounds and AMMO’s patented armor piercing rounds. The Company has already received an initial deposit to begin production within the next 90 days and expects to begin fulfilling the purchase order starting in its fiscal third quarter. All rounds for the purchase order will be produced out of AMMO’s facility located in Manitowoc, WI.
“As restrictions implemented from the COVID-19 pandemic begin to ease, we are experiencing an increase in demand for our large caliber ammunition offerings from potential international customers in the military and law enforcement channel,” said Mark Hanish, AMMO’s president of global sales & marketing. “This latest purchase order further solidifies our confidence that orders in this channel will come to fruition over the next several quarters as inbound interest has significantly increased. We believe we are well-prepared with the progress we made in expanding our manufacturing capabilities to continue executing on the heightened demand that is expected across both of our channels through our fiscal year and beyond.”
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.
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