Plurilock Announces Closing of Final Tranche of Non-Brokered Private Placement
Rhea-AI Summary
Plurilock (OTCQB:PLCKF, TSXV:PLUR) closed the final tranche of its non-brokered private placement of Special Warrants at $0.10 each.
The final tranche raised $766,000 from 7,660,000 Special Warrants, bringing total Offering proceeds to $3,206,500 from 32,065,000 Special Warrants, subject to TSX Venture Exchange approval.
Net proceeds will fund Critical Services in defense and commercial markets, development of an AI-native cyber resilience platform, and working capital. Each Special Warrant converts into one common share following a prospectus supplement filing or after four months and one day from closing.
Positive
- Total private placement proceeds of $3,206,500 from 32,065,000 Special Warrants
- Final tranche raised $766,000 at $0.10 per Special Warrant
- Net proceeds allocated to Critical Services and AI-native cyber resilience platform
- Insiders purchased 900,000 Special Warrants for gross proceeds of $90,000
Negative
- Issuance of 32,065,000 new Shares upon Special Warrant conversion implies dilution
- Cash finder's fees of $51,680 plus 1,393,200 Finder's Warrants increase overhang
- Offering and Special Warrant conversion remain subject to TSX Venture Exchange approval
News Market Reaction – PLCKF
In the May 13 session, PLCKF gained 3.90%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity systems integrator, is pleased to announce that, further to its news release of May 1, 2026, it has closed the final tranche (the "Final Tranche") of its previously announced non-brokered private placement of special warrants (the "Special Warrants") at a price of
Each Special Warrant will automatically convert, for no additional consideration, into one common share of the Company (each a "Share") on the date that is the earlier of: (i) the date that is three business days following the date on which the Company files a prospectus supplement to a short form base shelf prospectus with the securities commissions qualifying distribution of the Shares issuable upon the conversion of the Special Warrants (the "Prospectus Supplement"), and (ii) the date that is four months and one day after the closing of the Offering.
The Company will use its commercially reasonable efforts to file the Prospectus Supplement within 60 days of the closing of the Offering (not including the date of closing), provided, however, that there is no assurance that a Prospectus Supplement will be filed with the securities commissions, prior to the expiry of the statutory four month hold period.
In connection with the Final Tranche, the Company paid aggregate cash finder's fees of
The net proceeds of the Offering will be used to advance the Company's Critical Services capabilities in defense and commercial markets, to continue development of the Company's AI-native cyber resilience platform, and for general working capital.
The Offering remains subject to the approval by the TSX Venture Exchange (the "TSXV").
Prior to the filing of the Prospectus Supplement and the automatic conversion of the Special Warrants, the securities issued under the Offering are subject to a four month hold period from the date of closing of the Offering in addition to any other restrictions under applicable law.
Insiders of the Company purchased 900,000 Special Warrants in the Final Tranche for aggregate gross proceeds of
The Company also wishes to clarify that it issued an aggregate of 1,076,400 Finder's Warrants in the first tranche closing of the Offering that closed on April 30, 2026.
Pursuant to the provisions of the Company's Amended Omnibus Incentive Plan, the Company has granted 600,000 restricted share units ("RSUs") to an officer of the Company. The RSUs have a three-year term, with 1/3 to vest one year from the grant date and 1/3 every 12 months thereafter.
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 the filing of the Prospectus Supplement, use of proceeds and other such future events and 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.
The securities to be issued pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release will not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297249