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Plurilock Signs Contract for Renewal and New Cybersecurity Project for Plurilock AI Cloud with Leading Overseas Airline
The Customer will renew its subscription to Plurilock AI Cloud for 5,800 users. New cybersecurit...
About this update from Plurilock Security Inc
[{"type":"text","content":"Plurilock Signs Contract for Renewal and New Cybersecurity Project for Plurilock AI Cloud with Leading Overseas AirlineThe Customer will renew its subscription to Plurilock AI Cloud for 5,800 users.New cybersecurity project will further integrate Plurilock's flagship product into the Customer's operating environment and existing workflows.Vancouver, British Columbia--(Newsfile Corp. - July 12, 2023) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) and related subsidiaries (\"Plurilock\" or the \"Company\"), an identity-centric cybersecurity solutions provider for workforces, announced today that the Company has signed a contract renewal for its flagship product, Plurilock AI, with one of India's largest airlines (the \"Customer\").According to the terms of the contract, the Customer will renew its subscription to Plurilock AI Cloud, which features Single-Sign On and Access Controls for cloud applications, for 5,800 users. In addition, the contract also includes the launch of a new cybersecurity project, which will further integrate Plurilock AI Cloud into their operating environment and existing workflows. The project comprises custom development work that enables the Company's flagship product to provide additional automatic provisioning, de-provisioning and account synchronization across cloud services.\"We are pleased to have established a strong business relationship with an overseas airline of this caliber,\" said Ian L. Paterson, CEO of Plurilock. \"Our goal is to be well-positioned as a leading provider of AI-driven cybersecurity solutions to organizations across different key industry verticals. We look forward to working with the Customer in ensuring their security requirements are met and protecting their business systems against cyber threats.\"Additional Subscription to the Private PlacementThe Company also wishes to announce that, further to its news release dated June 28, 2023, the Company has accepted one additional subscription (the \"Additional Subscription\") for 100,000 units of the Company (\"Units\") at a price of $0.145 per Unit, for gross proceeds of $14,500 (the \"Private Placement\"). The aggregate gross proceeds raised under all tranches of the Private Placement totaled approximately $1,661,305. Each Unit consists of one common share in the capital of the Company (a \"Share\") and one common share ...