AMMO, Inc. Awarded U.S. Department of Defense Contract for the Development and Manufacture of Ballistically Matched Multi-Pur...
June 23 2021 - 8:30AM
AMMO, Inc. (NASDAQ: POWW) (“AMMO” or the “Company”), a premier
American ammunition and munition components manufacturer and
technology leader, is pleased to announce it has been awarded a
contract by the Irregular Warfare Technical Support Directorate
(IWTSD), formerly the CTTSO, formed and operating under the U.S.
Department of Defense, to design and manufacture multiple
Ballistically Matched Multi-Purpose Rounds (BM-MPR) in support of
U.S. military operations.
The BM-MPR ammunition is being developed to
provide snipers with the ability to switch from standard issue
match-grade ammunition to BM-MPR, without re-zeroing (or
readjusting the scope on) their weapon. BM-MPRs, by design, deliver
superior performance in the field against a wider variety of
targets. This new, higher performing BM-MPR will be ballistically
matched to current sniper match-grade ammunition, providing snipers
with this seamless capability and therefore increasing
lethality.
“The tactical operators being served by IWTSD
and our Company on this program are the best warfighters in the
world. As such, they have unique and swiftly evolving needs and
this program falls squarely into that category, addressing a
challenging requirement called out by DoD,” said Fred Wagenhals,
AMMO’s Chairman and CEO. Mr. Wagenhals continued, noting that “our
current team took over our efforts to support the US military in
May 2019 - and this team’s focused and professional efforts are
paying dividends for the Company and the world-class warfighters we
are driven to support. They have made certain we remain creative
and reactive, able to move swiftly in R&D to address unique
military needs, incorporating our portfolio of products wherever
applicable.”
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 and manufacturing operations located in
Manitowoc, Wisconsin, 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 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) 947-0001IR@ammo-inc.com
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