Plurilock Announces 3-Year Contract Renewal with Canadian Air Transport Security Authority

Rhea-AI Summary

Plurilock Security Inc. (PLUR) announces a 3-year renewal of its standing offer contract with the Canadian Air Transport Security Authority, making Integra Networks a provider of computing and technology peripherals for the entire Canadian Crown Corporation responsible for air transport security.

Vancouver, British Columbia--(Newsfile Corp. - December 5, 2023) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) and related subsidiaries ("Plurilock" or the "Company"), an AI-driven cybersecurity solutions provider for workforces, is pleased to announce a 3-year renewal of its standing offer contract with the Canadian Air Transport Security Authority.

Under the terms of the contract, Integra Networks, part of Plurilock's solutions division, will become a standing offer provider of computing and technology peripherals, for a new 3-year period, to the entire Canadian Crown Corporation responsible for the security screening of people and baggage, as well as the administration of identity cards, at the 89 designated airports in Canada. The contract is a general agreement that is open-ended as to amounts and activity.

"Air transport security is one of the most critical security functions in any modern society," said Ian L. Paterson, CEO of Plurilock. "We're excited to renew our relationship with the Canadian Air Transport Security Authority and to have the opportunity to continue to provide them with the technology that they require in order to carry out their vital security mission."

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.

For more information, visit https://www.plurilock.com or contact:

Ian L. Paterson
Chief Executive Officer
ian@plurilock.com
416.800.1566

Prit Singh
Investor Relations
prit.singh@plurilock.com
905.510.7636

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, the success of the Company in obtaining new or extended contracts or orders; the Company's ability to maintain existing customers or develop new customers; the Company's ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof; and unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/189795

FAQ

What is the latest announcement from Plurilock Security Inc. (PLUR)?

Plurilock Security Inc. (PLUR) has announced a 3-year renewal of its standing offer contract with the Canadian Air Transport Security Authority.

What is the significance of the contract renewal for Plurilock Security Inc. (PLUR)?

The contract renewal signifies the continuation of Plurilock's relationship with the Canadian Air Transport Security Authority and the opportunity to provide vital technology for air transport security.

Who will become a standing offer provider under the renewed contract for Plurilock Security Inc. (PLUR)?

Integra Networks, part of Plurilock's solutions division, will become a standing offer provider of computing and technology peripherals for the Canadian Air Transport Security Authority.

What is the duration of the renewed contract for Plurilock Security Inc. (PLUR)?

The renewed contract is for a 3-year period.

What is the scope of the renewed contract for Plurilock Security Inc. (PLUR)?

The contract covers the provision of computing and technology peripherals to the entire Canadian Crown Corporation responsible for air transport security at 89 designated airports in Canada.