Ammo Inc. Board Authorizes Extension of Share Repurchase Plan
28 Mars 2023 - 2:30PM
AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”), the
owner of GunBroker.com, the largest online marketplace serving the
firearms and shooting sports industries, and a leading vertically
integrated producer of high-performance ammunition and components,
announces today that its Board of Directors approved an extension
of the Company’s share repurchase program for up to $30 million of
its outstanding common stock until February 2024.
Purchases made pursuant to the program will be
made in the open market from time to time, at the Company’s
discretion, i through privately negotiated transactions or through
other manners as permitted by federal securities laws. The timing,
manner, price and amount of any repurchases will be determined by
the Company and will be subject to economic and market conditions,
stock price, applicable legal requirements and other factors.
Previously, the Company disclosed in its Form 10-Q (Quarterly
Report) filed on February 14, 2023 that approximately $29.7 million
remained available for repurchases under the plan. The program is
expected to continue following this public release and may be
suspended or discontinued at any time prior to termination in
February 2024.
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 its own branded munitions, including its
patented STREAK™ Visual Ammunition, /stelTH/™ subsonic
munitions, and armor piercing rounds for military 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:CoreIRPhone:
(212) 655-0924IR@ammo-inc.com
Source: AMMO, Inc.
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