AMMO, Inc. announced that it has received $1.71 million in funding
January 08, 2019
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On January 9, 2019, AMMO, Inc. (OTCPK:POWW) closed the transaction. The company has amended the terms of the transaction. The company has issued to accredited investors a convertible promissory notes at a price of $1,710,000 for gross proceeds of $1,171,000 The company received 194,000 pursuant to exemption provided under Regulation D. The maturity date of the notes is the two year anniversary from the date of issuance. The notes have an option to convert into common stock at a conversion price of $2.50 per share at any time until the maturity date at the option of the holder. The security is issued upon the exemption from securities registration under Section 4(a)(2) of the Securities Act of 1933.
AMMO, Inc. is a vertically integrated producer of ammunition and components. The Company is the owner of GunBroker.com, which is an online marketplace serving the firearms and shooting sports industries. The Company operates through two segments: Ammunition and Marketplace. The Ammunition segment consists of the Companyâs manufacturing business. The segment is engaged in the designing, production and marketing of ammunition and ammunition component products. The Companyâs core ammunition business is vertically integrated with multi-channel distribution, including direct-to-consumer, wholesale, military and law enforcement customers. Its product offering encompasses approximately 60 items, including STREAK Visual Ammunition, a patented technology. The Marketplace segment consists of the GunBroker.com marketplace. In its role as an auction site, GunBroker.com supports the sale of firearms, ammunition and hunting/shooting accessories.
AMMO, INC. 
