AXIL Brands Secures Exclusive Sponsorship with the USA Shooting Team, Elevating Athlete Safety and Performance

AXIL Hearing Protection and Enhancement Products Named Exclusive Supplier of USA Shooting Team

LOS ANGELES, June 3, 2024 (GLOBE NEWSWIRE) -- AXIL Brands, Inc. (“AXIL” or “the Company”) (NYSE American: AXIL) is pleased to announce the initiation of a new five-year exclusive sponsorship agreement with USA Shooting, the official governing body for Olympic & Paralympic shooting sports in the United States.

This significant five-year partnership guarantees that America's premier shooters will be equipped with AXIL's cutting-edge hearing protection technology as they vie for gold at the forthcoming Summer Olympic Games in Paris 2024 this July, followed by the Paralympic Games in August.

“We are honored to partner with the exceptional athletes and staff of USA Shooting at Paris 2024 and beyond,” said Jeff Toghraie, CEO and Chairman of AXIL Brands. “Our advanced hearing protection products, calibrated for the demands of elite performance, give us a unique opportunity to protect the hearing of our world-class athletes and help to promote the importance of audio safety and protection in everyday activities.”

The partnership grants AXIL co-branding privileges on USA Shooting’s digital channels, promotional materials at events, and signage at national competitions until 2028.

Kelly Reisdorf, CEO of USA Shooting, shared her excitement about the alliance, noting, "We couldn’t be more thrilled about our partnership with Axil, a company that not only leads in innovation but shares in our deep commitment to excellence and athlete safety. As we gear up for Paris 2024 and beyond, securing the best in auditory protection is crucial.  AXIL’s superior technology not only safeguards our athletes’ hearing but enhances their focus and precision, essential elements in the shooting sports.  This collaboration is more than a sponsorship; it’s a strategic alliance that elevates our athletes’ capabilities and underscores our relentless pursuit of excellence across all facets of our sport."

This strategic collaboration marks a pivotal moment in USA Shooting’s ongoing commitment to enhancing athlete health and optimizing performance. By joining forces with Axil, USA Shooting assures its competitors access to the most sophisticated hearing protection solutions available—vital for athletes regularly exposed to potentially harmful sound levels during training and competition. Axil's premier products offer not just auditory protection but also augment the overall shooting experience, enabling athletes to concentrate on their performance without jeopardizing their long-term auditory health.

The significance of this partnership transcends the immediate advantages it provides to USA Shooting’s athletes. It highlights a mutual commitment to safety and innovation shared by both organizations. Axil’s reputation for excellence and its dedication to crafting products tailored to the unique demands of competitive shooters render it an optimal partner for USA Shooting. Jointly, they intend to redefine standards in sports safety, elevating consciousness around the necessity of hearing protection within shooting sports. This venture exemplifies USA Shooting’s and Axil’s proactive stance on athlete welfare and their relentless pursuit to create the most favorable conditions for their members’ triumphs. As this partnership progresses, it is poised to significantly enrich the training milieu for USA Shooting's athletes, contributing markedly to their international success.

About AXIL

AXIL Brands, Inc. (NYSE American: AXIL) is an emerging global consumer products company. The Company is a manufacturer and marketer of premium hearing enhancement and protection products, including ear plugs, earmuffs, and ear buds, under the AXIL® brand and premium hair and skincare products under its in-house Reviv3 Procare brand - selling products in the United States, Canada, and the European Union. To learn more, please visit the Company’s website at www.axilbrands.com and, for Reviv3®, visit www.reviv3.com.

About USA Shooting

USA Shooting, a 501(c)(3) non-profit corporation was chartered by the United States Olympic and Paralympic Committee as the National Governing Body for the Olympic & Paralympic Shooting Sports in April 1995. The organization develops and implements programs to promote growth in the sport and serves as a sanctioning body for local and national competitions. Headquartered in Colorado Springs, Colorado, at the U.S. Olympic & Paralympic Training Center, USA Shooting has a full-time staff dedicated to our sport.

Forward-Looking Statements

This press release contains a number of forward-looking statements within the meaning of the

federal securities laws. The use of words such as “believe,” “expect,” “continue,” “will,”

“prepare,” “should,” and ”focus,” among others, generally identify forward-looking statements. These forward-looking statements, including the expected benefits of this partnership, are based on currently available information, and management’s beliefs, projections, and current expectations, and are subject to a number of significant risks and uncertainties, many of which are beyond management’s control

and may cause the Company’s results, performance or achievements to differ materially

from any future results, performance or achievements expressed or implied by these forward-

looking statements. Factors that could cause actual results to differ materially from those in the

forward-looking statements include, among other things: (i) the Company’s ability to

grow net sales as anticipated and perform in accordance with guidance; (ii) our ability to

generate sufficient revenue to support the Company’s operations and to raise additional

funds or obtain other forms of financing as needed on acceptable terms, or at all; (iii) potential

difficulties or delays the Company may experience in implementing its cost savings and

efficiency initiatives, including integrating the AXIL® brand; (iv) the Company’s

ability to compete effectively with other hair and skincare companies and hearing enhancement

and protection companies; (v) the concentration of the Company’s customers,

potentially increasing the negative impact to the Company by changing purchasing or

selling patterns; (vi) changes in laws or regulations in the United States and/or in other major

markets, such as China, in which the Company operates, including, without limitation,

with respect to taxes, tariffs, trade policies or product safety, which may increase the

Company product costs and other costs of doing business, and reduce the

Company’s earnings; and (vii) the impact of unstable market and general economic

conditions on the Company’s business, financial condition and stock price, including

inflationary cost pressures, the possibility of an economic recession and other macroeconomic

factors, geopolitical events, and uncertainty, decreased discretionary consumer spending, supply

chain disruptions and constraints, labor shortages, ongoing economic disruption, including the

effects of the Ukraine-Russia conflict and the Israel-Hamas conflict, and other downturns in the business cycle or the economy. There can be no

assurance as to any of these matters, and potential investors are urged to consider these factors

carefully in evaluating the forward-looking statements. Other important factors that may cause

actual results to differ materially from those expressed in the forward-looking statements are

discussed in the Company’s filings with the U.S. Securities and Exchange Commission. These

forward-looking statements speak only as of the date hereof. Except as required by law, the

Company does not assume any obligation to update or revise these forward-looking

statements for any reason, even if new information becomes available in the future.

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