SCOTTSDALE, Ariz., May 03, 2021 — AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is pleased to announce today the successful closing of the previously announced acquisition of the GunBroker.com business (GunBroker.com), the world’s largest on-line auction marketplace dedicated to firearms, hunting, shooting and related products. The Transaction involved an approximate $240 million merger of reorganized entities resulting in GunBroker.com and certain affiliates becoming a wholly owned subsidiary of AMMO (the “Transaction”).

“We couldn’t be more excited about bringing the GunBroker.com team into the AMMO family. Everyone worked hard to make this happen – and we will now set about to further expand the GunBroker.com brand as we leverage the amazing IT platform Steve Urvan and his team developed to bring AMMO products and a host of other products and merchandise to the vibrant GunBroker.com marketplace,” said Fred Wagenhals, AMMO’s Chairman and CEO. Fred further noted that “the AMMO management team viewed the Transaction as accretive to our shareholders when we announced the letter of intent. With the Transaction successfully closed, our team has reached another vertical integration milestone for the Company, representing an opportunity to diversify our revenue base with high profit-margin business offered through a premier brand deploying best-in-class secure transactional technology.”

Steve Urvan commented: “I am excited we have closed the Transaction so I can take my seat on the Board of this dynamic and growing company. I am confident our newly expanded AMMO team will bring innovative products and solutions for our expanding and loyal customer base. The GunBroker.com marketplace is going to enjoy the new shopping opportunities that serve the firearms, ammunition and accessory outdoor and shooting sports markets as we roll them onto the platform.”

The Company anticipates issuing post-Transaction updated guidance on Tuesday, May 11, 2021.

Lucosky Brookman LLP acted as legal counsel and Riveron Consulting LLC acted as financial and technology advisors to the Company. Arnall Golden Gregory LLP served as legal counsel and Maxim Group LLC served as the financial advisor to IA Tech LLC for the GunBrokers.com business.

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