Plurilock Wins US$814,000 Three Year Contract with Existing Customer to Deliver Cloud Security to Major Laboratory Data and Advisory Firm

Rhea-AI Summary

Plurilock Security has secured a three-year contract worth US$814,000 to provide cloud and data security solutions to a major global laboratory data and advisory firm. The contract, awarded through its Aurora subsidiary, will enable the customer to enhance its security posture management across cloud applications and data. CEO Ian L. Paterson highlighted the company's focus on addressing growing compliance concerns and cybersecurity threats, and noted recent additions to the sales team to promote higher-margin products and services. This contract reinforces Plurilock's commitment to delivering essential security solutions to its existing customer base.

Positive

• Secured a three-year, US$814,000 contract.
• Contract with a major global laboratory data and advisory firm, strengthening its customer base.
• Focus on higher-margin products and services, potentially increasing revenue.

Negative

• No significant negative aspects were reported.

Vancouver, British Columbia--(Newsfile Corp. - June 26, 2024) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity services and solutions provider, announces that it has been awarded a contract to deliver cloud and data security solutions to a major global laboratory data and advisory firm through its Aurora subsidiary.

Under the terms of a three year, US$814,000 contract, the Company will provide integrated cloud security posture management (CSPM), cloud native application protection (CNAPP), and data security posture management (DSPM) capabilities to an existing customer. These solutions will enable the customer, who serves thousands of laboratories around the world in pharmaceutical, biotech, chemistry, and other scientific fields, to better protect and manage their proprietary cloud applications and data.

"We are pleased we can continue to deliver needed security solutions to our base of existing customers and partners," said Ian L. Paterson, CEO of Plurilock. "We have recently added additional sales people to focus on higher margin products and services that address growing compliance concerns and cybersecurity threats facing businesses today."

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/214418

FAQ

What is the value of Plurilock's new contract?

Plurilock's new contract is valued at US$814,000.

How long is the duration of Plurilock's contract with the laboratory data firm?

The contract duration is three years.

Which company awarded Plurilock the contract?

A major global laboratory data and advisory firm awarded the contract.

What services will Plurilock provide under the new contract?

Plurilock will provide cloud security posture management, cloud-native application protection, and data security posture management.

What is the focus of Plurilock's recent sales team additions?

The recent sales team additions focus on higher-margin products and services addressing compliance and cybersecurity threats.