POTOMAC, Md., Oct. 12, 2022 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE: CTM) (“Castellum”, or the “Company”), a cybersecurity, electronic warfare, and IT services company, today announced the pricing of its public offering of common stock at a public offering price of $2.00 per share. Castellum is offering 1,500,000 shares of its common stock and has granted the underwriters a 45-day option to purchase up to an additional 225,000 shares of common stock at the public offering price less the underwriting discounts and commissions, to cover over-allotments, if any. The shares are expected to begin trading on the NYSE American Exchange on October 13, 2022 under the ticker symbol “CTM” and the offering is expected to close on or about October 17, 2022, subject to satisfaction of customary closing conditions.

Prior to the NYSE American Exchange listing, the Company’s common shares were listed on the OTC Pink under the symbol “ONOV”.

In connection with this offering, the Company will effectuate a reverse split of its issued and outstanding common shares at a ratio of 1-for-20. The reverse stock split is expected to be effective as of the open of trading on October 13, 2022. The share numbers and pricing information in this release are adjusted to reflect the reverse stock split.

EF Hutton, division of Benchmark Investments, LLC, is acting as sole book-running manager for the offering.

The Company’s registration statement on Form S-1 (File No. 333-267249) relating to the offering has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 12, 2022. The offering is being made only by means of a prospectus. Copies of the final prospectus which will be filed with the SEC may be obtained, when available, from EF Hutton, division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@efhuttongroup.com or telephone at (212) 404-7002.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in the offering in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Castellum, Inc.
Castellum, Inc. (OTC: ONOV) is a technology service and solutions company executing strategic acquisitions in Cyber Security, Information Technology, Information Warfare, Electronic Warfare, Systems Engineering, Software Engineering, and Software Development. For more information visit our website at https://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 the Company’s future events or future performance. 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 carefully review 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.

https://www.globenewswire.com/news-release/2022/10/12/2533424/0/en/Castellum-Inc-Announces-Pricing-o...

POTOMAC, Md., Jan. 24, 2022 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces Lieutenant General, United States Army, Retired Bernard (Bernie) Champoux  joined the Company's Advisory Board. Castellum's Advisory Board seats experienced business leaders and senior cybersecurity/information technology (IT) executives with business, government, and technical expertise, useful in fostering the Company's growth.

" Castellum  continues to focus on growth with an integral part of the growth stemming from access to an Advisory Board that provides meaningful contributions," said Mark Fuller, President, and CEO of Castellum. "Bernie brings exceptional leadership experience in the Army and a multi-national company in the defense sector. This experience will foster our continued and sustained growth."

Bernie Champoux joined Hanwha Defense  in May 2017, where he formed and led the establishment of their US & Americas business  for four years before moving to Government Relations in May 2021. Before Hanwha, he consulted for Lockheed Martin , L3Harris , CENTRA Technology , Analytical Services (ANSER),  and the Defense Science Board. He is a founding Director at the Korea Defense Veterans Association , the National Defense Industrial Association, and Vice Chairman of the Korean War Veterans Memorial Foundation.

Bernie served nearly 39 years in the US Army  commanding from platoon through field army in light, mechanized, and motorized Infantry, with multiple tours in the US Army Rangers  and numerous operational deployments, including over three years in combat. He led the 25th Infantry Division  as the last Division Headquarters in Iraq during Operation New Dawn.

Bernie was the Executive Officer to the Commander in Chief, United States Southern Command , and the Executive Assistant to the Vice Chairman of the Joint Chiefs of Staff. He was also both the Deputy and Chief of Legislative Liaison, Office of the Secretary of the Army.

Following in his father's footsteps who served as a company commander during the Korean War, Bernie served almost four years in the Republic of Korea. He culminated his tour of duty as the Commander of the Eighth Army  while simultaneously serving as the Chief of Staff for United Nations Command,   ROK-US Combined Forces Command , and United States Forces Korea. He received the Gukseon Medal, Order of National Merit from the ROK government, and the Department of Defense Distinguished Service Medal to contribute to the ROK-US Alliance.

Bernie received his BA from Saint Anselm College  and graduated from the US Army War College  and the Army Strategic Leader Development Program.

About Castellum, Inc.

Castellum, Inc. (OTC: ONOV) is a technology service and solutions company executing strategic acquisitions in Cyber Security, Information Technology, Information Warfare, Electronic Warfare, Systems Engineering, Software Engineering, and Software Development. The Company recently announced its latest letter of intent to acquire an East Coast government contractor with over $4 million of revenue.

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 the Company's future events or future performance. 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 carefully review 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.

https://www.otcmarkets.com/stock/ONOV/news/Castellum-Inc-Announces-Lieutenant-General-Bernard-S-Champoux-US-Army-Retired-to-Join-Advisory-Board?id=340311

Corvus Consulting, LLC is fully owned subsidiary of Castellum, Inc.

POTOMAC, Md., Jan. 10, 2022 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces that Glen Ives, Chief Growth Officer takes on additional responsibilities as the President of Government Sales and Operations.

“Since joining Castellum in February 2021, Glen  has been instrumental in our organic growth and acquisition successes,” said Mark Fuller, CEO of Castellum. “In his new role he will have executive management responsibilities for all of the acquired entities as he continues to drive growth and manage operations.”

Jim Enicks, CEO of Castellum’s subsidiary Corvus Consulting  departed at the end of 2021 to pursue other opportunities. “During his leadership role in Corvus he built a strong business development and proposal capability,” noted Mark Fuller. “We are appreciative for these contributions during his tenure.”

Two other management additions were also announced. Craig Nixon , an Advisory Board Member since March of 2021 has joined Castellum as a Senior Advisor to Mark Fuller, CEO of Castellum. “In this role he will focus on opportunities within SOCOM and across the Army along with identifying potential acquisition targets,” stated Fuller. “Having run a large government contractor that grew through acquisitions as well as organically, Craig has an appreciation and understanding for the business plan we are executing and will further add to our ability to continue to our growth.”

Daniel Turissini has joined Castellum as the head of Technology Development and Compliance. “Dan’s knowledge across these areas will be focused on developing internal service capabilities that are complementary to the services currently offered by Castellum,” said Fuller. “These capabilities will offer existing and new customers new services that will help them to execute their individual and collective national security related missions.”

About Castellum, Inc. Castellum, Inc. (OTC: ONOV) is a technology services and solutions company executing strategic acquisitions in Cyber Security, Information Technology, Information Warfare, Electronic Warfare, Systems Engineering, Software Engineering and Software Development. The Company recently announced its latest letter of intent to acquire an East Coast government contractor with over $4 million of revenue.

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.

Contact: Mark Fuller, CEO

info@castellumus.com

(301) 961-4895

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

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/

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

POTOMAC, Md., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces that it has acquired Specialty Systems, Inc. (SSI) a Toms River, New Jersey  based government contractor. Castellum also has posted its record second quarter financial results at www.otcmarkets.com.

SSI provides critical mission support to the Navy at Joint Base McGuire-Dix-Lakehurst  in the areas of software engineering, cyber security, systems engineering, program support and network engineering. The company was founded by the CEO, Emil Kaunitz and will bring nearly 90 employees to the Castellum family of companies.

“My long-time business partner, Bill Cabey, COO of SSI, and I, along with the rest of the SSI team, are very excited about becoming part of Castellum with all of us remaining at SSI in our current roles,” said Mr. Kaunitz. “Our customers will continue to enjoy the same high level of support that they have come to expect over the last 43 years along with new capabilities that we can now bring from Castellum.”

“Operationally, the exceptional team of professionals at SSI brings new and expanded expertise that Castellum can offer to existing and future customers,” noted Mark Fuller, President and CEO of Castellum. “This acquisition is immediately accretive to both revenue and EBITDA per share and, along with our recently announced Merrison Technology  transaction, establishes a $33 million dollar annualized revenue run rate for our company that takes us to another level in competing for larger government contracts.”

Castellum’s overall financial picture continues to strengthen. Revenue for Q2 2021 was a record $4.19 million. Adjusted EBITDA, a non-GAAP measure, was approximately $260,000 (excluding non-cash depreciation, amortization, and stock compensation). Cash-on-hand at quarter end was over $2 million, Current Assets were a record $4.58 million and net working capital was a record $3.19 million, up from $2.23 million in Q1.

“Our business continues to generate excellent results,” said Mark Fuller, President, and CEO of Castellum.  “Revenue remained strong in Q2 and adjusted EBITDA continues to be positive while we grow through acquisition and new business. Our liquidity and overall balance sheet continue to improve. This continued growth and positive outlook for the balance of 2021 and beyond is important as we begin the process of looking to up-list to the NYSE American.”

About Castellum, Inc.

Castellum, Inc. (OTC:ONOV)  is a defense-oriented technology company which is executing strategic acquisitions in the cyber security, information technology, information warfare, software engineering, and electronic warfare space. In June 2019, the company brought on a new management team specifically to pursue an acquisition-led growth strategy - 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.

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

POTOMAC, Md., Aug. 05, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces signing and closing on a definitive merger agreement with Merrison Technologies LLC , a Virginia limited liability company (“Merrison”), effective immediately.

Merrison is a government contractor with approximately $3 million in profitable revenue. The transaction will be immediately accretive to Castellum’s revenue and EBITDA per share and will increase Castellum’s revenue to approximately $19 million in annualized run-rate.

Castellum is also in late-stage discussions with another, previously announced , company which it is looking to close in August.

“Merrison is an excellent add-on addition to the Castellum family, bringing with it a strong relationship with CACI  and expertise in software engineering and IT  in the classified arena,” said Mark Fuller, President and CEO of Castellum. “Merrison also brings us an excellent team with Andrew Merriman, President, and his team of nearly 20 experienced people. We are happy to welcome the entire Merrison team to Castellum.”

About Castellum, Inc . Castellum, Inc. (OTC:ONOV)  is a defense-oriented technology company which is executing strategic acquisitions in the cyber security, information technology, information warfare, software engineering, and electronic warfare space. In June 2019, the company brought on a new management team specifically to pursue an acquisition-led growth strategy. The company completed its first acquisition in November 2019. Merrison represents the Company’s third acquisition -   http://castellumus.com/  and https://merrison-tech.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.

Contact:

Mark Fuller, CEO

info@castellumus.com

POTOMAC, Md., May 12, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces record revenue for the quarter ended March 31, 2021 and its fifth consecutive quarter of positive adjusted EBITDA. The Company expects to file its 2021 Q1 report at www.otcmarkets.com  within the next 7 days.

Castellum’s financial picture continues to improve. Revenue for Q1 2021 was a record $4.02 million up 17.7% from Q1 2020 revenue of $3.42 million. Adjusted EBITDA, a non-GAAP measure, was approximately $280,000. Cash on hand at quarter end was $1.96 million (versus $1.19 million a year ago). Current Assets were $4.22 million, up from $3.44 million a year ago.

“The continued growth in our business and strengthening of our balance sheet is very heartening,” said Mark Fuller, President, and CEO of Castellum. “We look forward to closing on our current LOI  later this quarter which will move us to above a $30 million run rate and position us to uplist. We also anticipate seeing some solid organic growth over the balance of the year as our Corvus subsidiary continues to excel. The goal remains the same: growth both organically and inorganically to drive shareholder value.”

About Castellum, Inc. Castellum, Inc. (OTC :ONOV) is a technology company which is executing strategic acquisitions in the cyber security, information technology and software, information warfare, and electronic warfare space. In June 2019, the company brought on a new management team specifically to pursue an acquisition-led growth strategy. The Company completed its first acquisition in November 2019  and its second acquisition in Q1 of 2021  - 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.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45a34d06-063c-47e5-9245-4e747642a82d