Plurilock's Aurora Systems Receives US $1.41 Million in Purchase Orders for April 2022

Tuesday, May 17, 2022

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Series of orders demonstrates Plurilock's continued sales growth across key industry verticals

Victoria, BC, May 17, 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 purchase orders from several organizations in April 2022 totaling US$1,417,000.

All but one of the orders received are 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).

All contracts and orders announced by PlurilockTM and its subsidiaries since January 1, 2022, including the latest orders, represent a combined total of roughly US$6.7 million in disclosed sales.

Ian Paterson, CEO, Plurilock Security Solutions Inc.

"This series of orders highlights Plurilock's role as a leader in the cybersecurity and IT space and demonstrates the Company's work in achieving our stated goal of securing contracts across key industry verticals, including military defense and financial services," said Ian L. Paterson, CEO of Plurilock. "As we continue to scale our operations, we intend to strengthen our business relationships with existing clients of Aurora while increasing cross-selling opportunities for our high-margin proprietary software products to their end customers."

The following list outlines the terms of the Aurora purchase orders:

a California state taxation agency, totaling US$167,000, for software subscriptions and maintenance support.
NASA through the SEWP V program, totaling US$130,000, for software renewal and maintenance support.
U.S. Air Force through the SEWP V program, totaling US$109,000, for software renewal and maintenance support.
U.S. Air Force through the SEWP V program, totaling US$124,000, for hardware.
U.S. Department of the Navy through the SEWP V program, totaling US$112,000, for software renewal and maintenance support.
U.S. Department of Commerce through the SEWP V program, totaling US$217,000, for software renewal and maintenance support.
U.S. Department of the Navy through the SEWP V program, totaling US$104,000, for hardware and software support.
U.S. Department of Defense through the SEWP V program, totaling US$203,000, for hardware and maintenance support.
U.S. Department of Energy through the SEWP V program, totaling US$251,000, for LinkedIn enterprise services.

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 2020.1 Estimates anticipate that agencies will utilize SEWP V for $8.8 billion in contracted spending in fiscal 2021.2 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.

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 ]

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

Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, the success of the Company in obtaining new or extended contracts or orders; the Company's ability to maintain existing customers or develop new customers; the Company's ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof; and unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Plurilock. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements.

The forward-looking statements contained in this press release are made as at the date hereof, and Plurilock undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risk Factors" in its most recent Annual Information Form. They are otherwise disclosed in its filings with securities regulatory authorities available on SEDAR at www.sedar.com.

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Company Snapshot

Plurilock Security Solutions Inc.

Victoria (InfoTech)
10-19 Employees In BC (10-19 Employees Total)
Founded: 2008

Plurilock Security Solutions Inc. is a technology company based in Victoria, BC. It specializes in innovative authentication solutions for computer and network security. Its software products implement innovative biometrics technologies to combat...

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