AMMO, Inc. Provides Update on its Letter of Intent to Acquire Gunbroker.Com
March 30 2021 - 7:30AM
AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier
American ammunition and munition components manufacturer and
technology leader, is pleased to update the status of its
non-binding letter of intent (“LOI”) dated February 9, 2021 with IA
Tech LLC for its GunBroker.com business (GunBroker.com), the
world’s largest on-line auction marketplace dedicated to firearms,
hunting, shooting and related products.
The LOI has extended by its own terms as the
parties continue to work diligently with their advisors through
final stages of the due diligence and definitive documentation
process. The parties have updated their estimated closing date to
mid to late April 2021.
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 armor
piercing rounds for military use. For more information, please
visit: www.ammo-inc.com.
Forward Looking Statements
This press release 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 of 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 the statements. Accordingly,
investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the dates on
which they are made. Such forward-looking statements are based on
our current beliefs and expectations, which we believe are
reasonable. However, forward-looking statements are subject to
significant known and unknown risks and uncertainties that may
cause actual results, performance or achievements in future periods
to differ materially from those assumed, projected or contemplated
in the 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
our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and
Current Reports filed on Form 8-K.
Investor Contact:Rob Wiley,
CFOAMMO, Inc.Phone: (480) 947-0001IR@ammo-inc.com
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