AMMO, Inc. Provides Corporate Update and Earnings Call Reminder
SCOTTSDALE, Ariz., Feb. 12, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is pleased to provide a corporate update from the Company’s Chairman and CEO.
Our Company has seen tremendous growth over the last 12 months. As our team continues to strive to reach higher goals, we feel it is important to provide an update to our investors in order to keep everyone abreast of the execution on our daily commitment to enhance shareholder value and grow this Company. Today’s update is meant as a progress report regarding where we are today, and where we hope to be by the end of our 2021 fiscal year as of March 31, 2021.
- Signed a Letter of Intent on February 9th to acquire GunBroker.com at an enterprise value of $240 million.
- GunBroker.com is the world’s leading online marketplace for the legal sale of firearms, ammunition, and accessories with over 6.0 million registered users.
- GunBroker.com’s estimated 2020 revenue is approximately $60 million, with over $40 million of EBITDA, positive net income and strong free cash flow.
- The transaction is accretive to our shareholders.
- Transaction provides strong free cashflow and high margin business.
- This transaction further expands upon AMMO’s vertical integration strategy.
We have seen demand and the resulting sales of our products increase the last 12 months and expect to see that growth trend to continue throughout the calendar years of 2021 and 2022.
We negotiated an incentive-based land acquisition in Wisconsin to acquire land and announced our planned construction of a more than $12 million (plus) state of the art ammunition and brass case manufacturing plant, which we estimate will triple our manufacturing output. We have also projected our new plant will provide operational efficiencies and decrease operational costs by approximately $1 million.
We closed on the repurchase of 1,000,000 shares of our common stock for $1.50 per share from Jagemann Stamping, which lowered the Company float.
The AMMO story is one of execution, and through that continued execution and expansion, we look forward to creating value for all of our shareholders.
Fiscal Third Quarter Earnings Call Information:
The conference call and audio-only webcast will begin at 4:30 p.m. EST on Tuesday, February 16, 2021.
To participate in the conference call, please join by dialing 1-877-407-0789 (domestic), 1-201-689-8562 (international), or via () at least 5-10 minutes prior to the scheduled start and follow the operator's instructions. When requested, please ask for "AMMO, Inc. Fiscal Third Quarter 2021 Earnings Call."
About AMMO, Inc.
With its corporate offices headquartered in Scottsdale, Arizona. AMMO, Inc. (the "Company and/or 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(TM) Visual Ammunition, /stelTH/(TM) subsonic munitions, and armor piercing rounds for military use. For more information please visit: .
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:
Rob Wiley, CFO
AMMO, Inc.
Phone: (480) 947-0001
