VANCOUVER, British Columbia—(March 14, 2025)—Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) (“Plurilock” or the “Company”), a global cybersecurity services and solutions provider, provides the market with an update on the exercising of the first tranche of warrants which were issued upon closing of the oversubscribed private placement in April 2024.
Management is pleased to announce that as of March 13, 2025, warrants were exercised to purchase 22,502,494 of the Company’s common shares at an average price of $0.27, generating $6,089,936 in gross proceeds. Plurilock’s Board and management have also exercised warrants for this series to purchase over 1.7 million common shares for a value exceeding $440,000, demonstrating their confidence in the Company’s future.
This is an increase from prior updates, including the October 7, 2024 announcement that 13,627,613 warrants were exercised at an average price of $0.26, raising $3,595,644, and the August 28, 2024 announcement that 8,038,946 warrants were exercised at an average price of $0.27, adding $2,190,949 to the Company’s Treasury.
First Tranche of $0.25 Warrants Ratcheting to $0.40 on April 25, 2025
With the first tranche of $0.25 warrants set to ratchet to $0.40 on April 25, 2025, the Company encourages shareholders to exercise their warrants before the deadline to maximize their value.
Plurilock remains focused on driving operational efficiency, expanding its commercial and federal cybersecurity footprint, and delivering long-term shareholder value. The Company expects continued momentum in 2025, supported by strong demand for its cybersecurity services and strategic growth initiatives.
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.
