Plurilock Signs Contract Renewal for Flagship AI-Driven Cybersecurity Platform with U.S. Management Consulting Company

Rhea-AI Summary

Plurilock Security Inc. has renewed its subscription for its high-margin software offering, 'Plurilock AI', with a U.S. management consulting company. The contract includes the licensing of cloud security functionality, such as Single Sign-On and Access Control Management.

Positive

• Plurilock Security Inc. has renewed its subscription for its high-margin software offering, 'Plurilock AI', with a U.S. management consulting company.

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• None.

The Customer has renewed its subscription for the Company's high-margin software offering. 'Plurilock AI'

Vancouver, British Columbia--(Newsfile Corp. - June 8, 2023) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) and related subsidiaries ("Plurilock" or the "Company"), an identity-centric cybersecurity solutions provider for workforces, is pleased to announce that the Company has signed a contract renewal for its flagship software platform, 'Plurilock AI' with a U.S. management consulting company (the "Customer").

According to the terms of the contract, the Customer will license the cloud security functionality of the Plurilock AI platform, which includes Single Sign-On and Access Control Management.

"We are delighted to have renewed a contract with a U.S. management consulting company for our flagship AI-driven cybersecurity solution," said Ian L. Paterson, CEO of Plurilock. "Our technology software platform offers advanced cybersecurity capabilities with an emphasis on zero-trust principles, which enables our customers to bolster their cyber defenses."

About Plurilock

Plurilock secures workforces, delivering least privilege access management and advanced IT solutions to commercial and government customers worldwide. With industry-leading artificial intelligence and patented real-time identity confirmation technology, Plurilock combines next-generation cybersecurity with a comprehensive line of products and services 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/169166

FAQ

Who has renewed their subscription with Plurilock Security Inc.?

A U.S. management consulting company has renewed their subscription with Plurilock Security Inc.

What is included in the contract renewal?

The contract includes the licensing of cloud security functionality, such as Single Sign-On and Access Control Management.