POTOMAC, Md., April 04, 2022 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces that it has secured a new $950,000 revolving accounts receivable-based credit facility from Live Oak Bank.
"We are pleased to have finalized this revolving credit facility with Live Oak," said Mark Fuller, President and CEO of Castellum. "It gives us greater financial flexibility for closing small acquisitions, supporting our planned up-listing, or other projects which add value to the Company."
"At Live Oak Bank, our goal is to treat every client like the only client," said Daniel Aronson, Vice President of Live Oak Bank. "Because Live Oak's lending teams are aligned by industry, we can quickly understand the strength of Castellum, which allows us to allocate capital to fund Castellum's growth properly. Castellum has a strong management team to properly weigh the cost of capital utilizing both debt and equity to grow the Company strategically," Mr. Aronson added. "Castellum's management team has a deep understanding of the Company, and therefore they can communicate effectively to the bank the Company's financial needs based on historical and projected growth. We look forward to growing with Castellum and expanding our relationship."
About Castellum, Inc.
Castellum, Inc. (OTC: ONOV) is a defense-oriented technology company that 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 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 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. For the potential acquisition announced today, there is a risk that the LOI does not translate into a closed transaction.
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