Business
Plurilock's Integra Networks Secures Increase in Line of Credit to CAD$2.0M
Vancouver, British Columbia--(Newsfile Corp. - March 22, 2023) - Plurilock Security Inc. (TSXV: P...
About this update from Plurilock Security Inc
[{"type":"text","content":"Plurilock's Integra Networks Secures Increase in Line of Credit to CAD$2.0MVancouver, British Columbia--(Newsfile Corp. - March 22, 2023) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) and related subsidiaries (\"Plurilock\" or the \"Company\"), an identity-centric cybersecurity solutions provider for workforces, through its wholly-owned subsidiary, Integra Networks Corporation (\"Integra\"), has been approved for an increase to its existing CAD$1.5 million revolving line of credit dated July 29th, 2022 from Pathward, National Association, a division of MetaBank, N.A (\"Pathmark\") for up to CAD$2.0 million (collectively, the \"Loan\"), effective March 8th , 2023.\"We are pleased to continue working alongside Pathward, National Association, by securing additional working capital to grow our organization,\" said Ian L. Paterson, CEO of Plurilock. \"We are seeing increased demand for cybersecurity products at Plurilock and the additional flexibility will assist us in accelerating our sales.\"The proceeds of the Loan will be used by Integra for working capital purposes. The Loan is secured against all current and future assets of the Company and Integra.About PlurilockPlurilock provides identity-centric cybersecurity for today's workforces. The Plurilock family of companies enables organizations to operate safely and securely while reducing cybersecurity friction. Plurilock offers world-class IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division. Together, the Plurilock family of companies delivers persistent identity assurance with unmatched ease of use.For more information, visit https://www.plurilock.com or contact:Ian L. PatersonChief Executive [email protected] SinghInvestor [email protected] StatementsThis press release may contain certain forward-looking statements and forward-looking information (collectively, \"forward-looking statements\") related to future events or Plurilock's future business, operations, and financial performance and condition. Forward-looking statements normally contain words like \"will\", \"intend\", \"anticipate\", \"could\", \"should\", \"may\", \"might\", \"expect\", \"estimate\", \"forecast\", \"plan\", \"potential\", \"p...