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Plurilock's Aurora Systems Receives US$224,000 Purchase Order from the U.S. Library of Congress
Wednesday, April 20, 2022Company Profile | Follow Company
Victoria, BC, April 20, 2022--(T-Net)--Plurilock Security Inc. (TSXV: PLUR, OTCQB: PLCKF) and related subsidiaries, an identity-centric cybersecurity solutions provider for workforces, announced today that its wholly-owned subsidiary, Aurora Systems Consulting, Inc., has received a US$224,000 purchase order from the U.S. Library of Congress as part of the National Aeronautics and Space Administration's (NASA) Solution for Enterprise-Wide Procurement (SEWP) program, a U.S. Government-Wide Acquisition Contract Vehicle (GWAC).
The U.S. Library of Congress is the largest library in the world and serves as the research arm of the U.S. Congress. Libraries have become an increasing target for ransomware attacks and several libraries have been impacted by cyber attacks in the last few years, including incidents in Pennsylvania, Ohio, and Massachusetts.2,3,4
This order is a part of the SEWP V program and aligns with Plurilock's stated goal of expanding within the government vertical. All contracts and orders announced by Plurilock and its subsidiaries since January 1, 2022, including the latest orders, represent a combined total of roughly US$5.28 million in sales.
Per the terms of the purchase order, Aurora will provide the U.S. Library of Congress with software license renewal and maintenance support services.
Aurora Share Purchase Agreement Earnout
In accordance with the Share Purchase Agreement dated March 26, 2021 among the Company, Plurilock Security Corp. and Aurora Systems Consulting, Inc., the performance-based earnout has been achieved and the Company has issued 1,154,676 common shares of the Company at $0.325 per share to the vendor in satisfaction of the earnout payment of US$300,000.
About SEWP
The SEWP V program, launched by NASA in 2015, is the leading information technology (IT) contract vehicle, with government agencies spending $7.9 billion in fiscal 2020.5 Bloomberg Government estimated that agencies utilized SEWP V for $8.8 billion in contracted spending in fiscal 2021.6 The contract vehicle provides Plurilock with the opportunity to access downstream customers in the government sector.
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.
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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. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Plurilock's business. [ MORE ] |
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Plurilock Security Solutions Inc.
Victoria (InfoTech)
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