AMMO, Inc. Further Increases Manufacturing and Production Capacity
– Additional Press and Ancillary Equipment Expected to Increase Annual Casing Production by 160 Million –
– Increased Capacity Further Strengthens Ability to Fulfill Record Backlog of Booked Orders and Generate Additional Revenue Opportunities –
SCOTTSDALE, AZ, October 29, 2020 – AMMO, Inc. (OTCQB: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, has substantially increased its manufacturing output by adding new press and ancillary equipment to its revolver, medium rifle and large rifle ammunition component production lines.
“We are continuing to increase our casing production capacity in a targeted and strategic manner that dovetails with our ammunition loading operations,” said Fred Wagenhals, AMMO’s chairman and CEO. “This manufacturing output increase further strengthens our position to meet the record backlog of booked orders that we have generated in this heightened demand environment. In addition, this added production capacity provides us with the ability to generate up to an additional $70 million in annual revenue through the sale of loaded ammunition and brass casings to new and existing customers across all channels.”
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 its company branded munitions, its patented STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, and O.W.L. Technologies®. 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.
Investor Contact:
Cody Slach
Gateway Investor Relations
Phone: (949) 574-3860
POWW@gatewayir.com