Plurilock Announces Successful Committed Offering of $3 Million Strategic Investment to Accelerate Growth

Core Viewpoint - Plurilock Security Inc. announces a successful $3 million strategic investment through a non-brokered private placement to accelerate growth initiatives, pending approval from the TSX Venture Exchange [1][4]. Group 1: Investment Details - The investment will be made through the issuance of 10% unsecured convertible debenture units, consisting of 3,000 convertible debentures at $1,000 each, convertible at $0.23 for three years, and 4,000 common share purchase warrants exercisable at $0.25 for three years [2]. - The total number of common shares issuable upon conversion of the debentures is 13,043,478, with an additional 12,000,000 common shares available through the exercise of the warrants [2]. Group 2: Financial Terms - The debentures will bear an interest rate of 10% per annum, payable in common shares at the company's election based on the 10-day VWAP at the time of payment, subject to TSXV policies [3]. - Proceeds from the offering will be utilized to accelerate growth initiatives, expand the Critical Services business, and strengthen working capital [3]. Group 3: Strategic Importance - The strategic investment is viewed as growth capital from a long-term partner who understands the market and mission, enabling the company to focus on key growth priorities such as expanding Critical Services offerings and scaling internationally [4]. - The company emphasizes its commitment to driving towards profitability with this investment [4]. Group 4: Company Overview - Plurilock is an AI-native cybersecurity company that addresses complex cyber challenges in high-stakes environments, trusted by Five-Eyes governments, NATO-aligned agencies, and Global 2000 enterprises [5]. - The Critical Services division of the company provides operational resilience through expertise, proprietary IP, and AI-driven playbooks [5].