Castellum, Inc. Formally Joins Russell Microcap Index; Comments on Recent Stock Trading Volume
26 Junho 2023 - 7:45AM
Castellum, Inc. (the “Company”) (NYSE-American: CTM), a
cybersecurity and electronic warfare services company focused on
the federal government, is pleased to announce that it has
officially joined the Russell Microcap Index, effective as of the
end of trading on June 23, 2023.
“Joining the Russell Microcap Index is a key
milestone for Castellum,” said Mark Fuller, President, and Chief
Executive Officer of Castellum. “It reflects significant progress
in our Company over the past four years where we went from an OTC
company with no revenue to a $50 million listed company with a
growing base of institutional and high net worth retail investors.
The next step for us would be to qualify for the Russell 2000 which
requires that we continue to grow the Company both organically and
through acquisition. We are shooting to do just that in the next
year or two.”
Castellum also notes that over 10 million shares
of its common stock traded on Friday, June 23, 2023. “We are
pleased that our cost reduction and growth story appears to have
resonated with our existing and some new stockholders and has
translated into greater interest in our stock,” said Mr. Fuller.
“Friday’s activity represents record trading volume for Castellum
and helps provide our stockholders with greater liquidity for their
holdings. With about 14 million shares in our public float,
Friday’s trading represented over 70% of our public float. We will
continue to spend time over the coming weeks and months meeting
with current and prospective shareholders to tell the Castellum
story and encourage people to join us as larger shareholders of the
Company.”
Cautionary Statement Concerning
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. These forward-looking statements represent the Company’s
expectations or beliefs concerning future events and can generally
be identified by the use of statements that include words such as
“estimate,” “project,” “believe,” “anticipate,” “shooting to,”
“intend,” “plan,” “foresee,” “likely,” “will,” “would,” “appears,”
“goal,” “target” or similar words or phrases. Forward-looking
statements include, but are not limited to, statements regarding
the Company’s expectations for revenue growth and new customer
opportunities, improvements to cost structure, profitability, and
the ability for the Company to attract additional investors of its
common stock. These forward-looking statements are subject to
risks, uncertainties, and other factors, many of which are outside
of the Company’s control, that could cause actual results to differ
materially from the results expressed or implied in the
forward-looking statements, including, among others: the Company’s
ability to compete against new and existing competitors; its
ability to effectively integrate and grow its acquired companies;
its ability to identify additional acquisition targets and to
finance and close those additional acquisitions; the impact on the
Company’s revenue due to the delay in the U.S. Congress approving a
federal budget and the Company’s ability to maintain the listing of
its common stock on the NYSE American LLC. For a more detailed
description of these and other risk factors, please refer to the
Company’s Quarterly Reports filed on Form 10-Q and Annual Report on
Form 10-K and other filings with the Securities and Exchange
Commission (“SEC”) which can be viewed at www.sec.gov. 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. The Company
expressly disclaims any intent or obligation to update any of the
forward-looking statements made in this release or in any of its
SEC filings except as may be otherwise stated by the Company.
Contact:
Skyline Corporate Communications Group, LLC Lisa
Gray, Senior Account Manager One Rockefeller Plaza, 11th Floor
New York, NY 10020 Office: 646.893.5835 x1
Email: lisa@skylineccg.com; info@castellumus.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9b160807-ad11-44d8-ba44-979ea3d9f5d9
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