AMMO, Inc. Awarded U.S. Department of Defense Contract for the Development and Manufacture of Signature-on-Target Rounds
September 23 2021 - 7:30AM
AMMO, Inc. (NASDAQ: POWW & POWWP) (“AMMO” or the “Company”), a
leading vertically integrated producer of high-performance
ammunition and components and operator of GunBroker.com, the
largest online marketplace serving the firearms and shooting sports
industries today, is pleased to announce it has been awarded a
contract by the Irregular Warfare Technical Support Directorate
(IWTSD), formerly CTTSO, formed and operating under the U.S.
Department of Defense, to design and manufacture
signature-on-target rounds (SoT) in support of U.S. military
operations.
The SoT ammunition is being developed to provide
warfighters with the ability to see the impact of rounds fired from
their weapon systems on a wider variety of targets, both day and
night. The SoT ammunition allows the machine gunner to see bullet
impacts without a visible signature in flight exposing their firing
location in the manner which occurs with currently utilized tracer
ammunition. This advanced capability will increase survivability by
reducing firing position identification and increase lethality by
supporting the shooter’s ability to place more rounds on target and
in the beaten zone.
“AMMO is extremely proud of this contract award
and the expansion of its development efforts and focused support of
IWTSD’s critical work with the tactical operators we both serve.
These operators have special needs and this program was developed
to address two of the most critical – safety and increased
lethality,” said Fred Wagenhals, AMMO’s Chairman and CEO.
About IWTSD
The Assistant Secretary of Defense for Special
Operations/Low-Intensity Conflict (ASD(SO/LIC)) established the
Combating Terrorism Technical Support Office (CTTSO) in 1999 to
consolidate its research and development programs. The research and
development effort that supports the interagency Technical Support
Working Group (TSWG) was the first program to transition to CTTSO.
The TSWG is divided into 10 subgroups.
Section 922 of the 2017 National Defense
Authorization Act directed ASD(SO/LIC) report directly to the
Secretary of Defense. On November 18, 2020, the Acting Secretary of
Defense authorized the ASD (SO/LIC) to transform the CTTSO to the
Irregular Warfare Technical Support Directorate (IWTSD).
IWTSD’s mission is to identify and develop
capabilities for DoD to conduct Irregular Warfare against all
adversaries, including near-peer competitors and non-state actors,
and to deliver those capabilities to DoD components and interagency
partners through rapid research and development, advanced studies
and technical innovation, and provision of support to U.S. military
operations.
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 and law enforcement use. For
more information, please visit: www.ammo-inc.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 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 Current Reports
filed on Form 8-K.
Investor Contact:Reed AndersonICRPhone: (646)
277-1260IR@ammo-inc.com
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