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Plurilock Receives US$4.7 Million Sale Order from U.S. Public Library
Wednesday, January 17, 2024Company Profile | Follow Company
Victoria, BC, January 17, 2024--(T-Net)--Plurilock Security Inc. (TSXV: PLUR) and related subsidiaries, an AI-driven cybersecurity solutions provider for workforces, announced that the Company has received a US$4.7 million five-year sale order from a U.S. public library.
The sale represents the latest transaction in a series of orders between Plurilock and customers within the U.S. public sector in recent months.
As part of the Company's sales strategy, Plurilock says it intends to expand its revenue share and increase the number of opportunities to upsell high-margin offerings.
According to the terms of the order, the Company will deliver cybersecurity solutions to the Customer.
Ian Paterson, CEO, Plurilock Security Solutions Inc.
"We are pleased to secure a US$4.7 million sale order with the Customer," said Ian L. Paterson, CEO of Plurilock. "This sale reflects our strategy of broadening our revenue share that we sell to non-federal clients and a reflection of the work we have done to integrate our acquisitions and streamline efficiencies to secure large purchase orders."
The Company also announced that the Company will issue Shares in satisfaction of interest payments on some outstanding Debentures (the "Interest Payments").
The Company will issue an aggregate of $75,537 worth of Shares at the closing market price on December 29, 2023 to holders of the Debentures in satisfaction of an aggregate of $75,537 in interest payable as of December 31, 2023.
Issuance of the Shares is subject to several conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange. All securities issued in connection with the Interest Payments will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
About Plurilock
Plurilock secures workforces in the age of AI through its Plurilock AI platform, delivering advanced identity, data safety, and guard rails to safely implement AI solutions to commercial and government customers worldwide.
With patented artificial intelligence and patented real-time identity confirmation technology, Plurilock AI enables zero-trust architecture and identity threat detection and response capabilities for regulated organizations with remote workforces.
Through its Solutions Division, Plurilock aggregates world-class IT services and brings a comprehensive line of products that enable teams across North America and the globe to compute safely in a remote work world.
Plurilock's Base Shelf Prospectus, Prospectus Supplement, financial statements and management's discussion and analysis, among other documents, are all available on the Company's profile page on SEDAR at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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. [ MORE ] |
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Plurilock Security Solutions Inc.
Victoria (InfoTech)
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