GunBroker Partners with Gearfire Capital to Offer Innovative Financing Solutions for Firearms Retailers

Rhea-AI Summary

AMMO, owner of GunBroker, the largest online marketplace for firearms, has partnered with Gearfire Capital to provide Buy Now, Pay Later (BNPL) financing solutions. This collaboration aims to boost sales for firearms retailers by offering flexible financing options to customers. CEO Jared Smith highlighted that this partnership will help retailers compete better by offering tailored financing, while Gearfire's CEO JW Shultz emphasized the potential for expanding customer bases. The new financing programs are expected to be available later in 2024.

Positive

• GunBroker partners with Gearfire Capital, a leader in BNPL financing.
• The partnership provides flexible financing solutions tailored for firearms retailers.
• Aims to enhance purchasing power and drive sales growth.
• CEO Jared Smith highlights the creation of new opportunities in a competitive market.
• Gearfire's CEO emphasizes supporting the growth of firearms retailers.
• New financing programs to be available later in 2024.
• Partnership expected to expand customer base for firearms retailers.

Negative

• No specific financial figures or projections were provided in the announcement.
• Implementation of new financing solutions is not immediate, expected later in 2024.
• Potential risks associated with BNPL solutions, including defaults and administrative costs, are not addressed.

SCOTTSDALE, Ariz., May 28, 2024 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”) the owner of GunBroker, the world’s largest online marketplace for firearms and accessories, is thrilled to announce a new partnership with Gearfire Capital, a leading provider of Buy Now, Pay Later (BNPL) consumer financing solutions. This collaboration aims to empower retailers by offering flexible financing options to their customers, enhancing purchasing power and driving sales growth.

GunBroker has always been committed to providing the best possible service and value to its community. By partnering with Gearfire Capital, GunBroker will be able to extend its offerings to include consumer financing solutions tailored specifically for the firearms industry. This initiative will enable participating retailers to offer their customers competitive financing options, making it easier for buyers to purchase the products they need and want.

“Understanding the unique needs of firearms sellers and their customers is at the core of what we do,” said Jared Smith, CEO of AMMO, Inc., “Our partnership with Gearfire Capital enhances our platform’s capabilities, giving sellers the tools to thrive in a competitive market and buyers a flexible way to finance their purchases. It’s about creating opportunities and driving the industry forward.”

Gearfire Capital is renowned for its deep understanding of the firearms industry and its innovative financing solutions that cater specifically to the needs of gun retailers and their customers.

“We are excited to partner with GunBroker and support the growth of firearms retailers across the country,” said JW Shultz, CEO of Gearfire Capital. “Our tailored financing options are designed to help businesses expand their customer base and boost sales by making their products more accessible.”

GunBroker expects to have these new financing programs available to its sellers later in 2024.

About AMMO, Inc.

With its corporate offices headquartered in Scottsdale, Arizona, 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 its own branded munitions, including its patented STREAK^™ Visual Ammunition, /stelTH/^™ subsonic munitions, and armor piercing rounds for military use. For more information, please visit: www.ammo-inc.com.

About GunBroker

GunBroker is the largest online marketplace dedicated to firearms, hunting, shooting and related products. Aside from merchandise bearing its logo, GunBroker currently sells none of the items listed on its website. Third-party sellers list items on the site and Federal and state laws govern the sale of firearms and other restricted items. Ownership policies and regulations are followed using licensed firearms dealers as transfer agents. Launched in 1999, GunBroker is an informative, secure and safe way to buy and sell firearms, ammunition, air guns, archery equipment, knives and swords, firearms accessories and hunting/shooting gear online. GunBroker promotes responsible ownership of guns and firearms. For more information, please visit: www.gunbroker.com.

About Gearfire Capital

Gearfire Capital specializes in providing innovative Buy Now, Pay Later (BNPL) consumer financing solutions tailored for the firearms industry. With a commitment to supporting retailers and enhancing customer purchasing experiences, Gearfire Capital is at the forefront of financial services in the firearms sector. https://gogearfire.com/solutions/gearfire-capital/

Forward Looking Statements

This document may contain certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies, goals and objectives of management for future operations; any statements concerning proposed new products and services or developments thereof; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing.

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 Ammo, Inc’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports filed on Form 8-K.

Investor Contact:
CoreIR
Phone: (212) 655-0924
IR@ammo-inc.com

GunBroker Contact:
Allen Forkner
Vice President Public Relations and Brand Management
Allen.Forkner@gunbroker.com
Phone: (402) 672-7615

Gearfire Contact:
Chad Seaverns
Chief Operating Officer
ChadS@gearfire.com
Phone: (480) 696-4300

Source: AMMO, Inc.

FAQ

What is the new partnership involving GunBroker and Gearfire Capital announced on May 28, 2024?

AMMO, owner of GunBroker, announced a partnership with Gearfire Capital to offer Buy Now, Pay Later financing solutions for firearms retailers.

What financing solution will GunBroker provide through Gearfire Capital?

GunBroker will provide Buy Now, Pay Later (BNPL) consumer financing options tailored specifically for the firearms industry.

When are the new financing programs expected to be available for GunBroker sellers?

The new financing programs are expected to be available later in 2024.

How will the GunBroker and Gearfire Capital partnership benefit firearms retailers?

The partnership aims to enhance purchasing power and drive sales growth by offering flexible financing options to customers.

Who are the CEOs commenting on the GunBroker and Gearfire Capital partnership?

Jared Smith, CEO of AMMO, and JW Shultz, CEO of Gearfire Capital, commented on the partnership.