Plurilock Announces $445,000 Security Software Renewal with U.S. Department of Defense Agency

Rhea-AI Summary

Plurilock (OTCQB: PLCKF) announced a $445,000 re-occurring software renewal with a U.S. Department of Defense agency on March 24, 2026.

This renewal is Option Year 1 of a multi-year engagement awarded in 2025, with total potential value up to $2.5 million including four additional option years, delivered via the NASA SEWP vehicle.

Positive

• $445,000 re-occurring software renewal secured
• Contract represents Option Year 1 of a multi-year engagement
• Total potential contract value up to $2.5 million including options
• Procurement via NASA SEWP simplifies federal agency purchases
• Company expects historical gross margin consistency on fulfillment

Negative

• Only Option Year 1 awarded; remaining years remain optional
• Single-agency contract value of $445,000 may be limited scale

Vancouver, British Columbia--(Newsfile Corp. - March 24, 2026) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity systems integrator, announces a $445,000 re-occurring software purchase by a U.S. Department of Defense agency for security solutions. The agreement represents Option Year 1 of a multi-year engagement awarded in 2025, with a total potential value of up to $2.5 million including four additional option years.

The renewal provides continued protection capabilities for the agency, supporting critical defense communications infrastructure. The software solutions are delivered through Plurilock's established government sales channels, enabling ongoing protection for sensitive communications.

The contract was secured through Plurilock's established presence on the NASA SEWP (Solutions for Enterprise-Wide Procurement) contract vehicle, which streamlines procurement for federal agencies. The Company expects fulfillment costs and gross margins to be consistent with its historical government software sales.

About Plurilock

Plurilock is a services-led, product-enabled, AI-native cybersecurity company that solves complex cyber problems in high-stakes environments where failure isn't an option. Trusted by Five-Eyes governments, NATO-aligned agencies, and Global 2000 enterprises, we defend critical infrastructure and safeguard the systems that power modern life. Our Critical Services division delivers operational resilience through unmatched expertise, proprietary IP, and AI-driven playbooks.

For more information, visit https://www.plurilock.com or contact:

Ian L. Paterson
Chief Executive Officer
ian@plurilock.com
416.800.1566

Ali Hakimzadeh
Executive Chairman
ali@sequoiapartners.ca
604.306.5720

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the TSX Venture Exchange policies) 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. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. 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.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289668

FAQ

What did Plurilock (PLCKF) announce on March 24, 2026 regarding the DoD contract?

Plurilock announced a $445,000 re-occurring software renewal with a U.S. Department of Defense agency. According to the company, this is Option Year 1 of a multi-year engagement awarded in 2025 with total potential value up to $2.5 million including options.

How does the $445,000 renewal affect Plurilock's contract pipeline (PLCKF)?

The renewal extends an existing government engagement and secures one year of software revenue. According to the company, it continues protection for defense communications and is part of a multi-year award with additional option years.

What is the total potential value of the multi-year engagement referenced by Plurilock (PLCKF)?

The multi-year engagement has a total potential value of up to $2.5 million including four additional option years. According to the company, the $445,000 renewal represents Option Year 1 of that award.

Through what procurement vehicle did Plurilock (PLCKF) secure the DoD renewal?

Plurilock secured the contract via the NASA SEWP contract vehicle, which streamlines federal procurement. According to the company, delivery through SEWP enables faster procurement for federal agencies and leverages existing government channels.

Will Plurilock (PLCKF) expect different margins on this DoD renewal?

The company expects fulfillment costs and gross margins to be consistent with historical government software sales. According to the company, no material change to margins is anticipated for this renewal.