POTOMAC, Md., April 27, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC:ONOV) announces the signing of a letter of intent (LOI) to acquire a US East-coast based government contractor, generating approximately $14 million in revenue. Subject to due diligence and the execution of a definitive merger agreement, the Company hopes to close the acquisition by the end of June 2021.
Mark Fuller, President and CEO of Castellum, Inc., states, “We are very pleased to announce to our shareholders that we have identified and inked a strong third acquisition. This transaction, should we be able to close it, would give us over a $30 million revenue run-rate, sufficient to enable us to begin the up-listing process to the NYSE MKT. Additionally, our Corvus business and recently acquired MFSI both are performing in line with our expectations and have developed strong qualified business pipelines. Each subsidiary has significant growth opportunities this year which could move our revenue even higher going forward.”
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 verticals - 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 merger 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/0b4f1f04-4a7f-4d15-b881-7b8806c7b57c