Brief: Ammo, Inc. Reaches Settlement Agreement With The Urvan Group

Outdoor Holding

07/11/2022 13:58

Nov 7 (Reuters) - Ammo Inc  POWW.O :
    * AMMO, INC. REACHES SETTLEMENT AGREEMENT WITH THE URVAN
GROUP
    * AMMO INC - ANNOUNCES FORMATION OF CEO SUCCESSION COMMITTEE
    * AMMO - BECAUSE OF MARKET CONDITIONS,  SUSPENDS SEPARATION
OF ITS
AMMUNITION AND MARKETPLACE BUSINESSES INTO TWO INDEPENDENT
PUBLICLY TRADED COMPANIES
    * AMMO INC - URVAN GROUP TO SUPPORT COMPANY'S SLATE OF
DIRECTOR
NOMINEES AT 2022 ANNUAL MEETING
    * AMMO INC - HAS REACHED A SETTLEMENT AGREEMENT WITH STEVEN
URVAN
AND SUSAN LOKEY
    * AMMO INC - PURSUANT TO AGREEMENT, COMPANY WILL APPOINT
CHRISTOS
TSENTAS AND WAYNE WALKER TO AMMO BOARD OF DIRECTORS
    * AMMO INC - URVAN GROUP HAS WITHDRAWN ITS SLATE OF SEVEN
NOMINEES
AND AGREED TO VOTE ALL OF ITS SHARES IN FAVOR OF BOARD'S SLATE
AT ANNUAL MEETING
    * AMMO INC - HAS ALSO ENDED ITS PREVIOUSLY ANNOUNCED
INTERNAL
INVESTIGATION INTO URVAN AND LOKEY
    * AMMO INC - URVAN WILL REMAIN ON BOARD

Source text for Eikon:  ID:nGNXtbtQp 
Further company coverage:  POWW.O 
 ((Reuters.Briefs@thomsonreuters.com;))