POTOMAC, Md., Sept. 16, 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 approximately $2 million per year in revenue. Subject to due diligence and the execution of a definitive agreement, the Company hopes to close the acquisition by the end of October 2021.
“We are very pleased to announce to our shareholders that we have identified another accretive acquisition which is now under LOI,” said Mark Fuller, President and CEO of Castellum. “This transaction, should we close it, would increase our revenue run-rate to over $35 million. We also are looking at other opportunities which fit our acquisition strategy.”
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/
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.
Mark Fuller, CEO
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/28f5c6d6-32a1-4cab-adf7-7188e36bdf2e