Sale Will Provide Edge and Network Security Solution for Protected and Classified Networks
Vancouver, British Columbia--(Newsfile Corp. - May 2, 2024) - Plurilock Security Inc. (TSXV: PLUR) ("Plurilock" or the "Company"), is pleased to announce the sale of an advanced edge and network security solution to a key agency of the Government of Canada, in a combined hardware and software sale totaling CA$900,000.
The sale provides the agency with technology to upgrade certain high-security networks, providing new high-capacity and high-performance capabilities. These capabilities will enable authorized users to work securely on these high-security networks from locations around the world, with maximum performance and while complying with current standards and best practices.
"It is our privilege to provide security technology to the Government of Canada," says Ian L. Paterson, CEO of Plurilock, "and we are proud to play a key part in securing these critical networks."
Engagement of Investor Relations Service Providers
Plurilock is also pleased to announce that it has engaged Investment Publishing LLC ("Investment Publishing") and Sophic Capital Inc. ("Sophic Capital") to provide investor relations services to the Company.
The Company entered into a marketing services agreement (the "Investment Publishing Agreement") with Investment Publishing for the provision of investor relations and marketing services to the Company. Pursuant to the terms of the Investment Publishing Agreement, Investment Publishing will communicate information about the Company to the financial community in an effort to increase public awareness of the Company. The Investment Publishing Agreement is for an initial term of 12 months, commencing on May 1, 2024, and provides for a fee of $26,666 per month for the first six months and $10,000 for the six months thereafter. The Company and Investment Publishing may terminate the agreement at any time by mutual consent.
The Company also entered into a capital markets advisory agreement (the "Sophic Capital Agreement") with Sophic Capital for the provision of investor relations services to the Company. Pursuant to the terms of the Sophic Capital Agreement, Sophic Capital will assist the Company in the preparation of an investor communications plan, investor materials, news releases, roadshows and conference calls. The Sophic Capital Agreement is for a term of 12 months, commencing on May 15, 2024. In consideration for Sophic Capital's services, the Company will pay Sophic Capital $8,000 per month. The Sophic Capital Agreement will automatically renew for successive periods of six months. Either party may terminate the Sophic Capital Agreement with 30 days prior written notice.
Investment Publishing, Sophic Capital and its principals are at arm's length to the Company. Neither Investment Publishing, Sophic Capital nor its principals hold any securities of the Company. The Investment Publishing Agreement and the Sophic Capital Agreement are subject to acceptance by the TSX Venture Exchange.
About Plurilock
Plurilock sells cybersecurity solutions to the United States and Canadian Federal Governments along with Global 2000 companies. Through these relationships, Plurilock sells its unique brand of Critical Services-aiding clients with our expertise to defend against, detect, and prevent costly data breaches and cyberattacks.
For more information, visit https://www.plurilock.com or contact:
Ian L. Paterson
Chief Executive Officer
ian@plurilock.com
416.800.1566
Ali Hakimzadeh
Executive Chairman
ali@sequoiapartners.ca
604.306.5720
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") related to future events or Plurilock's future business, operations, and financial performance and condition. Forward-Looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. Forward-Looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Plurilock's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Plurilock. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Plurilock undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risk Factors" in its most recent Annual Information Form. They are otherwise disclosed in its filings with securities regulatory authorities available on SEDAR+ at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207869
