VANCOUVER, BRITISH COLUMBIA—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 the appointment of Blake Corbet to its Board of Directors
Mr. Corbet is a seasoned veteran with over 25 years of investment banking and corporate executive experience, having previously served in senior management roles at financial institutions including Salomon Brothers, CIBC World Markets, Haywood Securities and PI Financial. During his tenure as an investment banker, he specialized in the technology sector. Mr. Corbet is currently the Chief Corporate Development Officer at BBTV Holdings, a leading media and technology company.
Furthermore, Mr. Corbet will draw from his expertise in corporate finance, M&A and capital markets to provide guidance to Plurilock management on executing strategic initiatives. Plurilock has granted an option for Mr. Corbet to purchase an aggregate of 300,000 common shares at an exercise price of $0.15 per share, which will vest over four (4) years from the grant date. The stock options are granted for a ten (10) year term from January 31, 2023.
“We are delighted to appoint Blake Corbet to our Board of Directors,” said Robert Kiesman, Chairman of Plurilock. “Mr. Corbet has extensive experience in the Canadian capital markets and technology sector and will bring forth his industry expertise to assist Plurilock in implementing its growth strategy. In 2020, he assisted Plurilock with its go-public process and as a result, he has in-depth knowledge of our technology and our business model. We look forward to continuing our efforts in scaling up the company under his expert guidance.”
Grant of Stock Options
Pursuant to Plurilock’s Stock Option Plan, the Company has granted stock options to certain officers, employees and consultants of the Company to purchase an aggregate of 3,609,667 common shares in the capital of the Company at an exercise price of $0.15, which is a premium to the closing price of $0.13 on January 31st , with vesting periods of up to four (4) years from the date of grant. The stock options are granted for a ten (10) year term from January 31, 2023. Additionally, in connection with the Stock Option Plan, some officers and employees have volunteered to reduce their salaries.
Plurilock provides identity-centric cybersecurity for today’s workforces. The Plurilock family of companies enables organizations to operate safely and securely while reducing cybersecurity friction. Plurilock offers world-class IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division. Together, the Plurilock family of companies delivers persistent identity assurance with unmatched ease of use.
For more information, visit https://www.plurilock.com or contact:
Ian L. Paterson
Chief Executive Officer
Chief Financial Officer
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 forwardlooking 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.
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