AXIL Announces Dealer Agreement with Racing Electronics for NASCAR-Branded AXIL Hearing Protection Products at the 2024 DAYTONA 500®

NASCAR-branded AXIL products will be available at Racing Electronics' trackside retail outlets

LOS ANGELES, Feb. 15, 2024 (GLOBE NEWSWIRE) -- AXIL Brands, Inc. ("AXIL" or the "Company") (NYSE American: AXIL), announced today that it has entered into a standard dealer agreement with Racing Electronics for sales of AXIL's line of products, including AXIL's special NASCAR-branded products (the "Agreement"). As an authorized dealer, Racing Electronics plans to first sell AXIL's NASCAR-Branded products trackside at the 2024 DAYTONA 500® and then at other NASCAR racing events slated for 2024.

"Whether you are at a racetrack or at the range, regardless of your environment - AXIL delivers cutting edge audio products for hearing enhancement and protection," said Chris Schwartz, President of Racing Electronics. "We are proud to partner with AXIL and showcase their NASCAR-branded line to race fans starting this week at Daytona International Speedway®."

"We are very excited about our partnership with Racing Electronics and look forward to collaborating closely with their highly experienced team to bring our hearing protection solutions to more NASCAR trackside fans than ever before," stated Jeff Toghraie, CEO of AXIL. "We believe our hearing protection and related products are an ideal match for the high-octane sport of NASCAR, and invite DAYTONA 500® attendees to visit the Racing Electronics trackside retail outlets to check out our uniquely branded NASCAR hearing products."

About Racing Electronics

Racing Electronics is a fixture at major motorsports events across the country. From the ubiquitous "RE Red" headsets worn by thousands of race fans to the Racing Electronics equipment used on pit road, in the car, and on the spotter stand, Racing Electronics produces and sells the most popular motorsports communication equipment available today. Racing Electronics offers trackside services to ensure race fans are race ready! Learn more at www.racingelectronics.com.

About AXIL

AXIL Brands, Inc. (NYSE American: AXIL) is an emerging global e-commerce 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.

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 "aims," "believe," "look forward," and "plans," among others, generally identify forward-looking statements. These forward-looking statements 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 AXIL'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: AXIL's ability to generate sufficient revenue to support AXIL's operations and to raise additional funds or obtain other forms of financing as needed on acceptable terms, or at all; the concentration of AXIL's customers, potentially increasing the negative impact to AXIL by changing purchasing or selling patterns; changes in laws or regulations in the United States and/or in other major markets, such as China, in which AXIL operates, including, without limitation, with respect to taxes, tariffs, trade policies or product safety, which may increase AXIL's product costs and other costs of doing business, and reduce AXIL's earnings; the impact of unstable market and general economic conditions on AXIL's business, financial condition and stock price, including inflationary cost pressures, decreased discretionary consumer spending, supply chain disruptions and constraints, labor shortages, ongoing economic disruption, including the effects of the Ukraine-Russia conflict, the Israel-Hamas conflict and the ongoing impact of worldwide pandemics and other downturns in the business cycle or the economy; the availability or competition for opportunities for expansion of AXIL's business; difficulties of managing growth; and the loss of one or more members of the AXIL's management team. 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 Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Except as required by law, AXIL 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.

Investor Relations:
AXIL Investor Relations Team
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