Plurilock Announces US$6.16 Million Total Contract Value with U.S. Treasury

Rhea-AI Summary

Plurilock Security has secured a significant contract with the U.S. Treasury valued at US$6.16 million over five years. This contract includes an initial US$1.07 million base for the first year, with four optional extension years through Q4 2028. The agreement, facilitated by Aurora Systems Consulting, involves the provision of Microsoft Unified services and AI Azure support. Plurilock CEO Ian L. Paterson highlighted the importance of this deal in enhancing cybersecurity for public and private organizations and strengthening relations with large, stable government clients.

Positive

• Secured a US$6.16 million contract with the U.S. Treasury.
• Initial US$1.07 million base contract value for the first year.
• Four subsequent optional extension years through Q4 2028.
• Contract includes provision of Microsoft Unified services and AI Azure support.
• Strengthens relationship with stable government clients.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - June 19, 2024) - Plurilock Security Inc. (TSXV: PLUR, OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity services and solutions provider, announces the signing of a US$6.16 million, five year contract with the United States Department of the Treasury.

The contract, which includes a US$1.07 million base first year and four subsequent option years through Q4 2028, is for the provision of Microsoft Unified services and support to the Department, including AI Azure services and support. The contract was awarded through Aurora Systems Consulting subsidiary.

"There is an increasing threat against computer systems throughout the world and Plurilock strives to improve the security status of public and private organizations," said Plurilock CEO Ian L. Paterson. "Our operations through Aurora are key to obtaining and expanding our relationships within these organizations, especially with large government customers who have historically been stable buyers of IT throughout all economic environments."

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

Sean Peasgood
Investor Relations
sean@sophiccapital.com
647.953.5607

 

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/213539

FAQ

What is the value of the contract Plurilock signed with the U.S. Treasury?

Plurilock signed a contract valued at US$6.16 million with the U.S. Treasury.

How long is the contract between Plurilock and the U.S. Treasury?

The contract spans five years, including an initial year and four optional extension years.

What services will Plurilock provide to the U.S. Treasury under the new contract?

Plurilock will provide Microsoft Unified services and AI Azure support.

How much is the base value of Plurilock's first-year contract with the U.S. Treasury?

The base value of the first-year contract is US$1.07 million.

Which subsidiary of Plurilock facilitated the contract with the U.S. Treasury?

The contract was facilitated by Plurilock's subsidiary, Aurora Systems Consulting.