Castellum, Inc. Signs LOI to Acquire $3 Million Government Contractor

POTOMAC, Md., June 22, 2021 (GLOBE NEWSWIRE) — Castellum, Inc. (OTC: ONOV) announces the signing of a Letter-of- Intent (LOI) to acquire a U.S. East coast-based government contractor generating approximately $3 million in revenue. Subject to due diligence and the execution of a definitive stock purchase agreement, the Company hopes to close the acquisition by the end of August 2021.  

“We are happy to announce our next LOI, which will further strengthen our MFSI subsidiary by adding business intelligence, integration, and large data analytics,” said Mark Fuller, President and CEO of Castellum. “We also would like our shareholders to know that the previously announced $14 million acquisition is proceeding through due diligence and is currently on track to close in July 2021. Together, these transactions should give us approximately a $35 million revenue run-rate, sufficient to enable us to begin the up-listing process to the NYSE MKT.”
  
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.

Contact: 
Mark Fuller, CEO 
info@castellumus.com 
301-961-4895 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5e2a08b0-01f7-4eec-8fc7-3aa94a51181b