Plurilock Receives US$5.1 Million Sale Order from U.S. Department of the Treasury

Rhea-AI Summary

Plurilock Security receives a US$5.1 million five-year sale order from the U.S. Department of the Treasury.

Positive

• Plurilock secures a significant US$5.1 million sale order from a leading U.S. federal agency.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - October 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 that the Company has received a US$5.1 million five-year sale order from the U.S. Department of the Treasury (the "Customer").

The sale represents the latest transaction in a series of orders between Plurilock and U.S. government customers in recent months and the Company intends to secure more contracts with organizations within the North American public sector. According to the terms of the order, the Company will deliver professional services solutions to the Customer.

"We are delighted to sign a five-year sale order that is worth over US$5 million with a leading U.S. federal agency," said Ian L. Paterson, CEO of Plurilock. "Growing our sales pipelines remains as a key objective for Plurilock and we intend to secure more sale orders with North American government organizations, which will enable us to unlock the opportunity to upsell additional offerings in the future."

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.sedar.com.

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/182992

FAQ

What is the value of the sale order received by Plurilock?

The sale order is worth over US$5 million.

Who is the customer that placed the sale order?

The sale order is from the U.S. Department of the Treasury.

What type of services will Plurilock deliver to the customer?

Plurilock will deliver professional services solutions.

What is Plurilock's objective?

Plurilock aims to secure more sale orders with North American government organizations.

What does Plurilock's CEO say about the sale order?

The CEO of Plurilock is delighted about the sale order and sees it as an opportunity to secure more contracts in the future.