AMMO, Inc. Further Expands Manufacturing Capacity to Meet Continued Heightened Demand for Ammunition
SCOTTSDALE, AZ, June 3, 2020 — AMMO, Inc. (OTCQB: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, has further expanded its manufacturing capacity at its Payson, AZ facility through the addition of new equipment and increasing its night shift staffing.
New Equipment Additions at AMMO’s Payson, AZ Manufacturing Facility:
- Three new pistol loading machines to increase pistol-specific ammo manufacturing capacity by 75%.
- One new rifle loading machine, along with adding .223 and .308 conversions for existing machines, which doubles AMMO’s .223 and 5.56 capacity.
- One new inspection machine that will be up and running in early July 2020 and is expected to increase AMMO’s inspection output by 200%.
In addition to the new equipment, AMMO is in the process of hiring and training a fully staffed night shift at its Payson facility. The Company’s current night shift capacity is 25%. AMMO expects to complete the hiring and training process by July 2020 and anticipates a fully staffed night shift to double the Company’s overall manufacturing capacity to approximately 3-4 million rounds of ammunition output per week.
“We continue to experience heightened demand for our fully loaded ammunition as a result of recent civil unrest, COVID-19 and the upcoming election,” said Fred Wagenhals, AMMO’s CEO. “In response to this, we believe it was prudent to further expand our manufacturing capacity at our Payson facility, which primarily serves our retail partners, to ensure we are in the best position to continue meeting our customers’ needs. Our goal is to provide our customers the products they need with exceptional service. These investments in our capacity will do just that.”
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.
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.
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