POTOMAC, Md., Sept. 28, 2020 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces that it has signed an LOI to acquire a U.S. based government contracting company (the “Company”). The Company expects to generate over $30 million in revenue in 2020. Castellum seeks to close the potential transaction in the 4th quarter of 2020.

“We are pleased to report that we have identified our third acquisition target and have been able to sign an LOI for its acquisition,” said Mark Fuller, President, and CEO of Castellum. “We believe the Company is a good fit for Castellum with a very strong management team, great past performance, and long-standing customer relationships. We look forward to moving to the definitive agreement stage and being able to share our progress with our shareholders in the weeks to come. We continue to work on our second acquisition (for which we have received a suitable bank financing term sheet and hope to close the transaction in mid-October) and look at several other potential acquisitions as well.”

About Castellum, Inc.  

Castellum, Inc. (OTC:ONOV)  is a technology company which is executing strategic acquisitions in the cyber security, information technology, information warfare, and electronic warfare 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.

Mark Fuller, CEO

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/115a366e-2a6a-4564-a18d-44cf8c968a2a