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, has announced that Garr Stephenson, Jr. will be joining the Company as its Chief Revenue Officer (CRO).
Stephenson has 20 years of senior leadership directing multiple profit and loss divisions within technology companies that supply products and services to U.S. government organizations. Prior to his role with PlurilockTM, Stephenson served as the Executive Vice President and General Manager for Intelligence & Mobility Services at UltiSat Inc. Stephenson has also served in various management roles with Tachyon Networks and Science Applications International Corporation (SAIC). He holds multiple degrees from the University of Richmond’s Robins School of Business.
Since listing on the TSX Venture Exchange in September 2020, Plurilock has invested in and showcased its proprietary authentication technologies to customers around the world. With an intended strategy of acquiring distribution, the Company has successfully completed acquisitions of Aurora Systems Consulting, Inc., and most recently, Integra Networks Corporation. Both organizations are providing access to over 140 customers including the U.S. Department of the Navy, U.S. Department of Defense and the U.S. Air Force. Plurilock has set the groundwork for beginning to cross sell its core authentication platforms, Plurilock ADAPTTM and Plurilock DEFENDTM. Mr. Stephenson will lead these cross selling efforts, while ensuring the increased demand for Plurilock products are converted into sales.
“We are excited to add Garr Stephenson to Plurilock’s leadership team,” said Ian L. Paterson, CEO of Plurilock. “The appointment of Mr. Stephenson will be integral to advancing our growth strategy. With his extensive experience in growing revenue and scaling technology companies, he will be an invaluable asset to our team as we look to accelerate sales of our high margin ADAPT and DEFEND product suite.”
Grant of Stock Options
Plurilock has granted stock options for Mr. Stephenson to purchase an aggregate of 800,000 common shares at an exercise price of $0.33 per share, which will vest over four years from the grant date. The stock options are granted for a ten-year term from April 1, 2022.
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 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 wwww.sedar.com.
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