Mr. Ian Paterson reports

PLURILOCK ANNOUNCES INCREASE IN PRIVATE PLACEMENT

Due to added interest, Plurilock Security Inc. is increasing the maximum amount to be raised under its previously announced non-brokered private placement of units of the company from 3,103,448 units to at least 3,275,863 units and a maximum of 4,482,758 units at a price of 14.5 cents per unit, for aggregate gross proceeds of at least $625,000 to a maximum of $1-million.

Each unit will comprise one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of 20 cents per warrant share for a period of 48 months from the closing date of the offering, provided that if the volume weighted average closing price of the shares on the TSX Venture Exchange (or such other stock exchange on which the shares are traded) is equal to or greater than 25 cents for any 10 consecutive trading days, the company may at its option to elect to accelerate the expiry of the warrants by providing notice to the holders thereof, in which case the warrants will expire 30 calendar days following delivery of such notice. The units will be subject to a four-month-and-one-day hold period following the closing date.

The first tranche of the offering is expected to close on or around June 16, 2023. The offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange.

Further to the company's news release on June 1, 2023, the company announced a non-brokered private placement of up to 5,337,772 units that will be completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions. Further to comments from the British Columbia Securities Commission, the company has amended the terms of the life offering such that the company must raise at least $700,000 and up to $773,977, and the life offering may not close until the offering is completed. The securities issued under the offering will not be subject to a hold period in accordance with applicable Canadian securities. A revised offering document related to the life offering can be accessed under the company's profile on SEDAR. Prospective investors should read this offering document before making an investment decision.

About Plurilock Security Inc.

Plurilock secures work forces, delivering least privilege access management and advanced information technology solutions to commercial and government customers worldwide. With industry-leading artificial intelligence and patented real-time identity confirmation technology, Plurilock combines next-generation cybersecurity with a comprehensive line of products and services that enable teams across North America and the globe to compute safely in a remote work world.

We seek Safe Harbor.