AMMO Inc. (POWW) Awarded U.S. Department of Defense Contract for the Development and Manufacture of Ballistically Matched Multi-Purpose Rounds

June 23, 2021 8:31 AM EDT

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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.”

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