Vancouver, British Columbia–(Newsfile Corp. – July 4, 2024) – Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) (“Pull-lock” or “companyInc., a global cybersecurity services and solutions provider, announces change of auditor and provides capital markets update.
Change of auditor
The Company hereby announces that, effective July 2, 2024, Forvis Mazars LLP, a certified public accounting firm (the “Previous Auditor”), has resigned as the Company’s auditor and that MNP LLP, a certified public accounting firm of Vancouver, British Columbia, Canada (the “Successor Auditor”) has been appointed as the Company’s successor auditor.
There were no reservations in the audit report of the previous auditor for any accounting period during which the previous auditor served as the Company’s auditor.
Convertible Bond Incentive Program
Following the news release dated May 23, 2024, the Company announced that it has issued 10% unsecured convertible notes in the aggregate amount of $1,070,000 (the “Corporate bonds) will purchase 4,280,000 shares of the Company’s common stock (each of which is a “Corporate Bond SharesNoteholders who converted their Notes during the Offer Period, from May 27, 2024 through June 26, 2024, and tendered for cancellation their previously issued Common Stock Purchase Rights received one new Common Stock Purchase Right for each Note issued upon conversion of their respective Notes (each, a “Common Stock Purchase Right”).Invitation warrantEach Warrant will entitle the holder to one common share of the Company (each anshareThe Company has issued a total of 4,280,000 inducement warrants. With an aggregate of $450,000 of notes remaining outstanding, the Company has issued 74,995 shares at $0.30 per share in payment of interest due on June 30, 2024.
Clarification of investor relationship agreements
Following the news release of May 23, 2024, the Company has announced that it will update the terms of the Campaign Agreement (“Campaign Agreement2501490 Alberta Inc. dba Social Network Effect Communications (hereinafter referred to as the “Service ProvidersThe Company has paid $100,000 as a deposit to the Service Provider, and the remaining $300,000 will be paid to the Service Provider upon receipt of TSX Venture Exchange approval (“exchangeThe remaining US$132,272 will be paid within 30 calendar days of receipt of the Exchange’s approval. The term of the Campaign Agreement will commence upon the Exchange’s approval and will expire on November 30, 2024. The Service Provider will also be eligible to receive Company options, the number and terms of which will be determined by mutual agreement of the Company and the Service Provider and in accordance with the Exchange’s policies.
Representatives of the service providers participated in the Company’s latest private placement and purchased 1,250,000 units (“unitAt the request of the exchange, the service provider sold its interest in the units.
Attracted share
Following the news release regarding the appointment of Mr. Ali Hakimzadeh to our directors on April 1, 2024, the Company seeks to issue 400,326 shares to Mr. Ali Hakimzadeh at a deemed price of $0.50 per share pursuant to Mr. Ali Hakimzadeh’s executive employment agreement. The shares will be subject to a four month one day hold period.
About Plurilock
Plurilock sells cybersecurity solutions to the U.S. and Canadian federal governments, and to Global 2000 companies. Through these relationships, Plurilock markets its unique Critical Services brand, helping clients with the expertise to prevent, detect and prevent costly data breaches and cyber attacks. For more information, visit www.plurilock.com or contact:
Ian L. Patterson
chief executive officer
Ian
416.800.1566
Ali Hakimzadeh
chairman
Email:
604.306.5720
Sean Peasgood
Investor Relations
contact address
647.953.5607
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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”) that relate to future events or Plurilock’s future business, operations, financial performance and condition. Forward-looking statements generally include words such as “plans,” “intends,” “expects,” “may,” “should,” “may,” “anticipates,” “estimates,” “predicts,” “plans,” “potential,” “projects,” “assumes,” “contemplates,” “believes,” “will,” “is planned” and similar expressions. 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 to be reasonable and appropriate in the context of the circumstances. Although management believes the forward-looking statements herein are reasonable, actual results may differ materially due to risks and uncertainties related to and inherent in Plurilock’s business. Other significant risks and uncertainties applicable to the forward-looking statements in this press release include, but are not limited to, the effects of general economic conditions, unanticipated events or developments. This list is not an exhaustive list of factors that may affect our forward-looking statements. Many of these factors are outside of Plurilock’s control. All forward-looking statements contained 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 of the date of this press release, and Plurilock undertakes no obligation to publicly update or revise any contained forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Risks and uncertainties relating to the Company’s business are described in more detail under the heading “Risk Factors” in our most recent Annual Information Form, which are disclosed in our filings with securities regulatory authorities, which are available on SEDAR+ at www.sedarplus.ca.
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