SCOTTSDALE, Ariz., March 25, 2020 (GLOBE NEWSWIRE) -- AMMO, Inc. (OTCQB: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is providing a corporate update amidst unprecedented demand within its commercial ammunition market.
Over the past two weeks, AMMO has received a significant amount of purchase orders from various retail partners, representing a 400% increase versus typical monthly orders. Several notable retailers to have placed orders include Bass Pro Shops, Sportsman’s Warehouse, Gander Outdoors and Farm Fleet.
AMMO believes the significant increase in demand is primarily a result of uncertainties in the economy with the ongoing COVID-19 pandemic and the upcoming presidential election. The Company has been well prepared with the necessary manufacturing capabilities to meet the high demand.
“The significant increase in demand in our commercial market over the past two weeks is unlike anything we have seen before,” said Fred Wagenhals, AMMO’s CEO. “The fact that we have been able to successfully meet this demand and process all orders with excellent customer service is a testament to our talented team and exceptional capabilities. We expect this uptick in demand to continue through the election cycle, and we remain in a good position to service our customers during this period.”
AMMO is designated a critical infrastructure supplier because it directly and indirectly supplies ammunition and munition components to the U.S. military and law enforcement agencies. As a result, the Company’s facilities in Arizona and Wisconsin will be able to remain in operation and fulfill purchase orders amidst the COVID-19 pandemic.
AMMO anticipates providing preliminary results for the quarter and fiscal year ended March 31, 2020, within the next three weeks.
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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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.
