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Plurilock Security Inc (2)
Symbol PLUR
Shares Issued 10,294,845
Close 2024-04-26 C$ 0.31
Market Cap C$ 3,191,402
Recent Sedar Documents

Plurilock Security closes financings for $5.5-million

2024-04-26 18:36 ET - News Release

Mr. Ian Paterson reports

PLURILOCK ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCINGS OF $5.5M

Plurilock Security Inc. has closed private placements previously announced April 3, 2024, and April 11, 2024, totalling $5.5-million. Specifically, the company completed the issuance of 22.5 million units at a price of 20 cents for gross proceeds of $4.5-million. Each unit comprises one share and a two-year warrant exercisable at 25 cents in the first year and 40 cents in the second year. Finders' fees in cash of $203,315 were paid and 1,016,575 finders' warrants were issued. The company also completed the issuance of 4,444,443 units at a price of 22.5 cents for gross proceeds of $1-million. Each unit comprises one share and a two-year warrant exercisable for two years at 30 cents. Finders' fees in cash of $35,000 were paid and finders' warrants of 155,555 were issued. All securities issued in both private placements will bear a restriction of four months and a day from the date of closing.

The closing of the private placements are the first steps in the company's business transformation plan and the reorganization of its capital structure. The proceeds from the placements will be put to work in the business by reducing payables and providing working capital for marketing and development of the companies products and services.

About Plurilock Security Inc.

Plurilock sells cybersecurity solutions to the United States 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 cyberattacks.

We seek Safe Harbor.

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