AMMO Inc (POWW)

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9:00 am ET March 19, 2019 (Globe Newswire) Print
To Provide Supply Chain Integration in Support of Future Growth and Enhance Competitive Positioning

AMMO, Inc. (OTCQB: POWW), a technology leader and premier American ammunitions manufacturer, today announced AMMO, Inc., has closed the strategic acquisition of Jagemann Sporting Group's Wisconsin Casings division ("Jagemann Casings").

Jagemann's Casing Division is located in Manitowoc Wisconsin, the headquarters for Jagemann Stamping, the 73-year-old parent company founded to serve the automotive industry with specialty precision metal stamped parts. Over the last several decades, Jagemann expanded its product offerings into several other industrial end markets. In 2011, the Jagemann leveraged its stamping expertise to build a new ammunition casing business with a portfolio to include more than 30 different cartridges for the commercial, law enforcement and military markets.

"The Casings division has been a successful operation for the Jagemann organization, generating both significant revenue and cash flow for the business," stated Tom Jagemann, CEO and Chairman for Jagemann Stamping. "We fully expect this growth trend to continue and believe that when coupled with the product line developed by AMMO, Inc. the newly formed partnership will expand its footprint across the targeted sales channels."

The Jagemann Casings operations will continue to be led by its current general manager and an established manufacturing team, who will manage the business and operations under the direction of AMMO, Inc. The manufacturing operations will remain in Manitowoc, Wisconsin. Jagemann CEO, Tom Jagemann, will continue to lead Jagemann Stamping Company and focus on its core business as a leading manufacturer of deep drawn, progressive and fine blanking metal stampings. Mr. Jagemann has been appointed as a Director on AMMO, Inc.'s Board in conjunction with the closing of the transaction.