Business
Plurilock Announces Closing of Private Placement Financings of $5.5M
Vancouver, British Columbia--(Newsfile Corp. - April 26, 2024) - Plurilock Security Inc. (TSXV: P...
About this update from Plurilock Security Inc
[{"type":"text","content":"Plurilock Announces Closing of Private Placement Financings of $5.5MVancouver, British Columbia--(Newsfile Corp. - April 26, 2024) - Plurilock Security Inc. (TSXV: PLUR) (\"Plurilock\" or the \"Company\"), is pleased to announce the closing of private placements previously announced April 3, 2024 and April 11, 2024, totaling in aggregate $5.5 million dollars. Specifically, the Company completed the issuance of 22,500,000 units at a price of $0.20 for gross proceeds of $4.5 Million. Each unit being comprised of a share and a two-year warrant exercisable at $0.25 in the first year and $0.40 in the second year. Finder's fees in cash of $203,315 were paid and 1,016,575 finder's warrants were issued. The Company also completed the issuance of 4,444,443 units at a price of $0.225 for gross proceeds of $1 Million. Each unit being comprised of a share and a two-year warrant exercisable for two years at $0.30. Finder's fees in cash of $35,000 were paid and finder's 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 PlurilockPlurilock sells Cyber Security 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 our expertise to defend against, detect, and prevent costly data breaches and cyber-attacks. For more information, visit https://www.plurilock.com or contact:Ian L. PatersonChief Executive [email protected] HakimzadehExecutive [email protected] the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking StatementsThis press release may contain certain forward-looking statements and forward-looking information (collectively, \"forward-looking sta...