Plurilock Announces Payment of Debenture Interest

Rhea-AI Summary

Plurilock (OTCQB: PLCKF) issued 576,923 common shares at $0.13 per share to satisfy $75,000 of interest on its 10% unsecured convertible debentures originally issued October 30, 2025. The debentures have a principal amount of $3,000,000 under an indenture with Odyssey Trust Company.

Positive

• $75,000 interest satisfied without cash outflow
• Issued shares priced at $0.13 per share

Negative

• Share issuance of 576,923 may dilute existing shareholders
• Debentures total $3,000,000 outstanding at 10% interest

Vancouver, British Columbia--(Newsfile Corp. - March 31, 2026) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity service provider, announces that, pursuant to the indenture between the Company and Odyssey Trust Company dated October 30, 2025 governing the 10% unsecured convertible debentures in the principal amount of $3,000,000 previously issued on October 30, 2025 (the "Debentures"), the Company issued 576,923 common shares of the Company (the "Shares") at a price of $0.13 per Share in satisfaction of an aggregate of $75,000 in interest payments on the outstanding Debentures.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290573

FAQ

What did Plurilock (PLCKF) announce on March 31, 2026 about debenture interest?

Plurilock issued 576,923 common shares to satisfy $75,000 of interest on its debentures. According to the company, the shares were issued at $0.13 per share under the indenture governing its 10% unsecured convertible debentures.

How many shares did Plurilock (PLCKF) issue to pay debenture interest and at what price?

Plurilock issued 576,923 common shares at $0.13 per share to satisfy interest obligations. According to the company, this share issuance covered $75,000 of interest on the outstanding debentures.

Why did Plurilock (PLCKF) issue shares instead of paying cash for debenture interest?

The company settled $75,000 of interest by issuing shares, avoiding a cash payment. According to the company, the issuance was made pursuant to the October 30, 2025 indenture governing the convertible debentures.

What are the key terms of the debentures involved in Plurilock's (PLCKF) interest payment?

The debentures are 10% unsecured convertible instruments with a $3,000,000 principal amount issued October 30, 2025. According to the company, the indenture is with Odyssey Trust Company.

How might the March 31, 2026 share issuance affect Plurilock (PLCKF) shareholders?

The issuance of 576,923 shares to pay interest may dilute existing shareholders proportionally. According to the company, the shares were issued at $0.13 to satisfy $75,000 of interest on outstanding debentures.