AMMO Inc (POWW)

[Wits Basin]

ITEM 2.01 Completion of Acquisition or Disposition of Assets

On March 15, 2019, Enlight Group II, LLC (hereinafter referred to as the “Buyer”), a wholly owned subsidiary of AMMO, Inc., completed its acquisition of 100% of the assets of Jagemann Stamping Company’s (“Seller”) ammunition casing, projectile manufacturing and sales operations (“Jagemann Munition Components” or “JMC”) pursuant to the terms of the Amended and Restated Asset Purchase Agreement (“Amended APA”) dated March 14, 2019.

In accordance with the terms of the Amended APA, Buyer paid Seller a combination of $7,000,000 in cash, $10,400,000 delivered in the form of a Promissory Note, and 4,750,000 shares of AMMO, Inc. Common Stock.

Pursuant to the Amended APA, Buyer acquired the Seller’s munition and casing division assets (including equipment and intellectual property), and is to continue the operations at Seller’s Wisconsin facilities.

The foregoing summary of the Amended APA is not complete and is qualified in its entirety by reference to the full text of the Amended APA, which is filed as exhibit 2.1 and is incorporated herein by reference.