07:01:03 EDT Thu 28 Mar 2024
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Plurilock Security Inc
Symbol PLUR
Shares Issued 72,489,995
Close 2022-09-30 C$ 0.185
Market Cap C$ 13,410,649
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Plurilock's Aurora receives $2.8-million (U.S.) order

2022-10-03 09:41 ET - News Release

Mr. Ian Paterson reports

PLURILOCK'S AURORA SYSTEMS RECEIVES US$2.8 MILLION 3-YEAR PURCHASE ORDER FROM A U.S. FOOD, FACILITIES, AND UNIFORM SERVICES PROVIDER

Plurilock Security Inc.'s wholly owned subsidiary, Aurora Systems Consulting Inc., has received a $2.8-million (U.S.) three-year purchase order from a leading United States food, facilities and uniform services provider.

According to the terms of the order, Aurora will provide the customer with Fortinet's global firewall solutions. This order includes a fixed renewal price and enables the customer to make a total of three annualized payments. In addition, this order offers upselling opportunities as the customer can purchase up to 15 per cent of additional equipment over the three-year period.

The purchase order was secured through Aurora's expanded operations as a result of its acquisition of certain assets and business of Atrion Communications Inc., which was previously announced on Sept. 26, 2022.

"We are delighted to receive this multiyear purchase order from a top-tier U.S. customer, which bodes well for our sales pipeline," said Ian L. Paterson, chief executive officer of Plurilock. "This order was received as a result of Aurora's asset purchase agreement with Atrion, which has enabled Plurilock to expand its customer base across the East Coast of the United States. Moving forward, we intend to not only secure new clients through Aurora but also continue capitalizing on new cross-selling opportunities for our high-margin proprietary software solutions."

The company has entered into an amended and restated consulting agreement with a strategic consultant whereby the company has agreed to pay the consultant a fee of $30,000 for services provided by the consultant to the company in connection with the Atrion acquisition. The company intends to settle the fee in cash and common shares of the company, whereby the company will issue to the consultant 78,947 common shares of the company at a deemed price of 19 cents per consulting share. The issuance of the consulting shares is subject to TSX Venture Exchange approval.

About Plurilock Security Inc.

Plurilock provides identity-centric cybersecurity for today's work forces. The Plurilock family of companies enables organizations to operate safely and securely while reducing cybersecurity friction. Plurilock offers world-class IT (information technology) and cybersecurity solutions through its solutions division, paired with proprietary, artificial-intelligence-driven and cloud-friendly security through its technology division. Together, the Plurilock family of companies delivers persistent identity assurance with unmatched ease of use.

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