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Plurilock Announces Closing of $1.2 Million Private Placement Financing
Wednesday, December 28, 2022Company Profile | Follow Company
Victoria, BC, December 28, 2022--(T-Net)--Plurilock Security Inc. (TSXV: PLUR), an identity-centric cybersecurity solutions provider for workforces, announced today that it has closed the first tranche of a $1.2M non-brokered private placement.
The private placement involves financing of 8,668,123 units of the company at a price of $0.14 per unit, for aggregate gross proceeds of $1,213,537.22. The Company intends to use the proceeds raised from the offering for general corporate purposes and expects to close one or more additional tranches.
The Company also announced that it has entered into a consulting services agreement with Kalsson Group Limited, pursuant to which Karlsson will undertake a comprehensive European exposure and awareness campaign for the Company; consultation, advice, and strategic relationships with other individuals and companies and acquisition of projects; access to the capital markets in Europe; and similar activities designed to further the business and development interests identified by the Company for a period of 6 months. Karlsson has been engaged to heighten market and brand awareness for and to broaden the Company's reach within the investment community.
The company further announced that, pursuant to the indenture between the company and Computershare Trust Company of Canada dated August 15, 2022, as supplemented by the first supplemental indenture dated September 20, 2022 governing the 10% unsecured convertible debentures in the principal amount of $1,245,000 previously issued on August 15, 2022, and the 10% unsecured convertible debentures in the principal amount of $285,000 previously issued on September 20, 2022, the company will issue shares in satisfaction of interest payments on the outstanding debentures.
The Company will issue an aggregate of $55,036 worth of shares at the closing market price on December 30, 2022 to holders of the debentures in satisfaction of an aggregate of $55,036 in interest payable as of December 31, 2022.
Issuance of the shares is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange. All securities issued in connection with the interest payments will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
About Plurilock
Plurilock 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.
Plurilock's Base Shelf Prospectus, Prospectus Supplement, financial statements and management's discussion and analysis, among other documents, are all available on the Company's profile page on SEDAR at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. FORWARD-LOOKING STATEMENTS This 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. [ MORE ] |
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Plurilock Security Solutions Inc.
Victoria (InfoTech)
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