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VIENNA, Va. - Castellum, Inc. (NYSE-American:CTM) announced Friday that its subsidiary, Specialty Systems, Inc. (SSI), has secured a $66.2 million contract to provide support services to the Naval Air Warfare Center Aircraft Division Lakehurst. The contract represents a significant opportunity for the small-cap company, which currently has a market capitalization of approximately $97 million.
The five-year contract covers logistics, engineering, and cyber support services for the NAWCAD Lakehurst Mission Operations & Integration Department, which oversees Navy Aircraft Platform Support Equipment and Aircraft Launch Recovery Equipment.
This represents Castellum's first full and open prime contract win without small-business set-aside restrictions and stands as the company's second-largest contract in its history, according to the press release statement.
"It is an example that our targeted strategy to focus on full and open opportunities in our pipeline as we transition to a large business is working," said Drew Merriman, Chief Operating Officer of Castellum.
Under the agreement, SSI will provide services supporting logistics, engineering, and cyber work products for aircraft carriers, air-capable ships, and associated support systems.
Glen Ives, President and CEO of Castellum, called the contract win a "reflection of our people's unwavering determination and tenacity."
The contract award remains subject to potential protests, government funding availability, and the government's right to terminate for cause or convenience, as noted in the company's disclosure.
Castellum specializes in cybersecurity, electronic warfare, and software engineering services for federal government clients.
In other recent news, Castellum, Inc. announced that it has raised approximately $4.5 million through the exercise of 3,673,666 warrants. These warrants were part of a public offering held in June 2025. Additionally, Castellum's subsidiary, Specialty Systems, Inc., has expanded its capabilities by adding Special Item Number 54151S to its General Services Administration Multiple Award Schedule contract, allowing it to bid on IT professional services contracts. In a strategic move, Castellum has also formed a reseller agreement with Tradewinds Networks, Inc. to offer AI-driven cybersecurity solutions to its clients.
Meanwhile, Canterra Minerals Corporation has commenced Phase 3 of its drilling program at the Buchans Project in Central Newfoundland. This follows a 3D Induced Polarization survey that identified multiple large-scale anomalies comparable to known mineralized zones. These developments are part of Canterra's ongoing exploration efforts in a historically rich mining corridor. Both Castellum and Canterra are positioning themselves for growth with these recent strategic initiatives.
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