Investment in 50-Caliber Equipment Positions Company for Significant Future Growth
SCOTTSDALE, AZ, August 28, 2018 (GLOBE NEWSWIRE) – AMMO, Inc. (OTC:POWW), an innovator in ammunition technology, today announced its strategic entry into the U.S. Military channel.
With the recent approval of the United States Department of Defense budget for fiscal years 2018 and 2019, AMMO, Inc. announced today that it will be expanding its product lines and capabilities to pursue the growing defense munitions industry. Among the new product lines being added in late calendar 2018 will be a portfolio of 50-caliber ammunition, newly approved rifle rounds to support new military weapon platforms, and a variety of proprietary modular projectiles geared specifically toward military war fighters.
“We are excited about the future opportunities in the U.S. Military and Law Enforcement markets,” stated Kathy Hanrahan, AMMO Inc.’s President of Global Tactical Defense. “Selling to the U.S. Government is a lengthy process requiring extensive product testing, long public procurement processes, and multiple levels of approval. That said, we are optimistic given the technological advances we offer, and the need to replenish military arsenals, that we have a unique opportunity to provide an alternate solution.”
Ms. Hanrahan continued, “Up until the release of our STREAK™ Visual Ammunition in January of 2018, the use of non-incendiary tracer technology had been a concept for future ammunition development and full-scale deployment. However, with our STREAK™ products already in full production, and commercially sold under an exclusive worldwide agreement, we are confident that we have a strategic advantage in developing new portfolios of products, inclusive of the 50-caliber market, that meet current requirements for the U.S. Military. We are also developing strategic relationships through our Global Tactical Defense Division, to expand our reach through existing distribution channels to sell our products around the world.”
STREAK™ Visual Ammunition, also called O.W.L. in government vernacular (standing for one-way luminescent), uses an exclusive, patented technology that allows the shooter visibility from point of fire to impact while remaining invisible to the intended target. This technology has significant advantages to military and law enforcement personnel, as it can be deployed without risk of fire upon impact, or damage to the weapon platform. This is due to STREAK™’s proprietary design which excludes previously deployed pyrotechnic elements.
About AMMO, Inc.
With its corporate offices headquartered in Scottsdale, Arizona, and a manufacturing facility in Payson, Arizona, AMMO, Inc. (the “Company and/or AMMO”) designs and manufactures products for a variety of aptitudes, including law enforcement, military, hunting, 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, including its patented STREAK Visual Ammunition, the Jesse James line of munitions and accessories, /stelTH/ subsonic munitions, and OPS (One Precise Shot) a lead-free frangible tactical line of munitions for self-defense. For more information please visit: www.ammo-inc.com