04:11:07 EDT Fri 21 Jun 2024
Enter Symbol
or Name

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Plurilock Security Inc
Symbol PLUR
Shares Issued 102,948,453
Close 2024-04-03 C$ 0.03
Market Cap C$ 3,088,454
Recent Sedar Documents

Plurilock arranges $4.5-million private placement

2024-04-04 01:07 ET - News Release

Mr. Ian Paterson reports


Plurilock Security Inc. has arranged a private placement of up to $4.5-million of units at a price of 20 cents per unit. Each unit will be composed of a share and a full 24-month warrant, with each warrant exercisable at a price of 25 cents if exercised within the first 12 months and at a price of 40 cents if exercised during months 13 to 24 of the 24-month term. The private placement units are stated in postconsolidation figures and are based on a discounted market price following the one-for-10 consolidation.

Additionally, the company will settle debt of up to $500,000 in units (except to insiders, who will receive shares only) at a price of 20 cents per unit.

The company also announces the repricing conversion price of $1.52-million of convertible debentures to 25 cents per share based on the postconsolidated market price following the one-for-10 consolidation. The convertible debenture repricing is subject to the approval of the TSX Venture Exchange. It is anticipated that the repricing will also include an inducement to exercise the conversion of the debentures, which inducement will be subject to the approval of the TSX Venture Exchange. The terms associated with the inducement will be determined at the effective date of repricing.

Unrelated to the private placement, as part of the cost reduction plan previously announced, chief technology officer Jord Tanner has departed the company as of March 31, 2024.

About Plurilock Security Inc.

Plurilock sells cybersecurity solutions to the U.S. and Canadian federal governments along with Global 2000 companies. Through these relationships, Plurilock sells its unique brand of critical services -- aiding clients with its expertise to defend against, detect and prevent costly data breaches and cyber attacks.

We seek Safe Harbor.

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