AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, announced that effective December 17, 2020, the Board of Directors (the “Board”) of the Company appointed Jessica M. Lockett as a member of the Board.

Fred W. Wagenhals, Chairman and Chief Executive Officer of AMMO Inc., commented that “we are excited to welcome Director Lockett to our Board. Her entrepreneurial background, experience with micro-cap growth companies and the labyrinth of securities laws makes her an invaluable addition to the Board.”

Ms. Lockett is a corporate and securities law attorney with a practice focused on representing public and private companies at various stages of development, providing legal counsel on matters relating to corporate governance, compliance and securities reporting. Ms. Lockett also has experience in mergers and acquisitions, financing, fundraising activities, and going public transactions. Ms. Lockett earned her J.D., cum laude, from Thomas Jefferson School of Law in 2012 and received the CALI and Witkin Awards in Securities Regulations from Cal Western School of Law. Ms. Lockett graduated from the University of Arizona with a Bachelor of Arts in Psychology and minor in law. Ms. Lockett has been an attorney with Horwitz + Armstrong, PLC since 2016 and operated her own legal practice prior to joining the firm. Ms. Lockett is an active member of the State Bar of California.

Ms. Lockett was appointed to serve as Chair of the Board’s Audit Committee. Mr. Goodmanson remains a member of the Board.

About AMMO, Inc.With its corporate offices headquartered in Scottsdale, Arizona. AMMO, Inc. (the “Company and/or AMMO”) designs and manufactures products for a variety of aptitudes, including law enforcement, military, sport shooting and self-defense. The Company was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. AMMO promotes branded munitions, including its patented STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, and OPS (One Precise Shot) a lead-free frangible tactical line of munitions for self-defense. For more information please visit: www.ammo-inc.com

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Forward looking statements may include the words “may,” “could,” “estimate,” “intend,” “continue,” “believe,” “expect” or “anticipate” or other similar words, or the negative thereof. These forward-looking statements present our estimates and assumptions only as of the date of this report. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. We do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the dates they are made. You should, however, consult further disclosures and risk factors we include in Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Reports filed on Form 8-K.

Investor Contact:Rob Wiley, CFOAMMO, Inc.Phone: (480) 947-0001IR@ammo-inc.com