Mr. Ian Paterson reports

PLURILOCK ANNOUNCES PRIVATE PLACEMENT UPDATE

The books have now been closed for Plurilock Security Inc.'s private placement announced on April 3, 2024, of up to $4.5-million at a price of 20 cents per unit (on a postconsolidated basis). Due to the overwhelming demand, the company is undertaking an additional private placement of up to $1-million of units at a price of 22.5 cents per unit. Each unit shall comprise a share and one full warrant at 30 cents per warrant for a period of 24 months. The pricing of the placement is based upon the discounted market price of the company's shares after taking into account the proposed share consolidation of 10:1. Both private placements and the share consolidation are subject to Toronto Stock Exchange approval.

The company intends to use the proceeds of the private placement to reduce payables and provide working capital to finance its business transformation plan announced April 1, 2024.

About Plurilock Security Inc.

Plurilock sells Cyber Security solutions to the United States and Canadian federal governments along with global 2,000 companies. Through these relationships, Plurilock sells its unique brand of critical services -- aiding clients with the company's expertise to defend against, detect and prevent costly data breaches and cyberattacks.

We seek Safe Harbor.