POTOMAC, Md., Dec. 27, 2021 (GLOBE NEWSWIRE) — Castellum, Inc. (OTC: ONOV) announces the signing of a letter-of-intent (LOI) to acquire an East-coast based government contractor generating over $4 million in annualized revenue. Subject to due diligence and the execution of a definitive purchase agreement, the Company hopes to close the acquisition in the first quarter of 2022.
“We are happy to announce our next LOI, which adds more than 25 employees and further strengthens our past performance by adding more capabilities in Information Warfare/Information Operations (IW/IO) serving the special operations community,” said Mark Fuller, President and CEO of Castellum. “Combined with some organic growth that we have seen recently; this accretive acquisition will push Castellum above the $40 million run-rate threshold. We also continue to look at other potential acquisitions.”
About Castellum, Inc. Castellum, Inc. (OTC: ONOV) is a defense-oriented technology company which is executing strategic acquisitions in the cyber security, information technology and software, information warfare, and electronic warfare and engineering services space – http://castellumus.com/.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements. For the potential acquisition announced today, there is a risk that the LOI does not translate into a closed transaction.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/281c27d6-9bce-408d-b209-3dd43a26876b
