AMMO, Inc. has entered into a term sheet with the City of Manitowoc, Wisconsin to acquire in excess of 35 acres in the Manitowoc Industrial Park for the purpose of constructing an expanded loaded ammunition and brass casing manufacturing plant. In conjunction with its Payson, Arizona based ammunition loading operation, the Company currently operates in Wisconsin in an approximate 50,000 sq. ft. leased facility situated in the MIP where its JMC brass manufacturing business, military-grade ammunition development and supporting loading operations reside. Following the City Council’s unanimous approval at last evening’s meeting, AMMO will now work with Mayor Justin Nickels and his team to prepare the definitive Development Agreement to consummate the transaction which is founded upon seven figures in incentives tied to substantial job growth and development of the world-class plant. AMMO’s current plans call for constructing a best-in-class $12 million (est.), 160,000 sq. ft. facility on the site to be fully operational in the Summer of 2022. AMMO’s newly minted cutting-edge facility will support the company’s plan to exponentially expand its manufacturing base of operations in the heart of the US, ensuring it is best positioned from a facilities and location perspective to serve the entire US and its overseas customer base. AMMO anticipates opening the new plant with approximately 150 employees, expecting to increase its workforce over the following 18-24 months and beyond.