Company is contracted to deliver 6+ million brass cases starting in June 2024
SCOTTSDALE, Ariz., Jan. 24, 2024 (GLOBE NEWSWIRE) — 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, announces that it has signed a supply agreement with ZRODelta to provide 6+ million brass cases for the fulfillment of international contracts. ZRODelta is a specialized manufacturer of high-precision and high-volume firearms and ammunition.
In the agreement AMMO will supply ZRODelta with 6+ million brass cases of 12.7×108 (Russian Equivalent of 50 Caliber) beginning in June of 2024. The Company expects delivery to be completed by February of 2025. Management believes the value of the contract will exceed $10 million over that time period.
Jared Smith, CEO of AMMO stated, “This supply agreement is a great first foray into the expansion of our footprint into international markets. In addition, this is another opportunity to leverage our increased manufacturing capacity at our new facility in Manitowoc, which we are confident will produce and deliver the order on schedule.”
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.ammoinc.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. 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.
Investor Contact
Matt Blazei
Phone: (516) 386-0430
IR@ammo-inc.com
Source: AMMO, INC.