POTOMAC, Md., Feb. 25, 2022 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces the signing of a “Definitive Purchase Agreement” to acquire Lexington Solutions Group (“LSG”), a $4 million government contractor focused on information operations - www.lexsg.com. Castellum had previously announced the “Letter of Intent” for LSG in late December 2021. Subject to customary consents, the parties hope to close the acquisition within the next six weeks.
“Having completed our due diligence, we are thrilled to have Boyd Brown and his team at LSG join Castellum as they expand our capabilities in the area of Information Operations,” said Mark Fuller, President and CEO of Castellum. “The addition of LSG should push Castellum above $42 million of annualized revenue on a run-rate basis. We also have identified several other potential acquisitions which fit our strategy and hope to be able to bring at least one of them into the fold soon as well.”
“On behalf of LSG, I am very pleased to be joining with Mark and the Castellum team,” said Boyd Brown, President of LSG. “Combining with Castellum will give LSG much greater scale and capability to support and grow with our government clients from Maryland to Florida.”
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/bfbb42d4-d608-485d-9a04-4b85d0aa89d9
