Plurilock Appoints 35-Year Veteran of Enterprise Technology IT and Solutions Sales to Industry Advisory Council

Rhea-AI Summary

Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) has appointed Brian Aebig to its Industry Advisory Council. Aebig is a 35-year veteran of the IT industry with extensive experience in enterprise sales and supply chain distribution. He has held leadership positions in major companies, managing annual sales ranging from CAD$120 million to CAD$2.8 billion. Aebig's expertise in IT solutions distribution and understanding of end-to-end IT supply chains is expected to benefit Plurilock's growth strategy.

Plurilock CEO Ian L. Paterson highlighted Aebig's ability to unlock synergies across the enterprise IT ecosystem. The company has also granted 20,000 stock options to certain consultants with a strike price of $1.00, subject to shareholder and TSXV approvals.

Positive

• Appointment of Brian Aebig, a 35-year IT industry veteran, to the Industry Advisory Council
• Aebig's experience includes managing annual sales of up to CAD$2.8 billion
• Potential for leveraging Aebig's expertise in IT supply chains and distribution to drive growth and profitability

Negative

• None.

• Brian Aebig is a multi-decade sales executive responsible for over $2B in sales
• Brings nearly two decades in sales organizations as VP or General Manager as well as a decade as national director or director

Vancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity services and solutions provider, announces the appointment of enterprise sales and supply chain and distribution expert Brian Aebig to the Company's Industry Advisory Council.

Mr. Aebig is a 35-year veteran of the IT industry, having served as the leader of a national Canadian organization with annual sales of CAD$120 million, as a General Manager and VP at Avnet distribution with annual sales of CAD$850 million, and as VP Sales for Tech Data Canada with sales of CAD$2.8 billion.

Mr. Aebig brings deep, unique expertise in IT solutions distribution to Plurilock, along with unmatched experience in understanding, building, and leveraging end-to-end IT supply chains, from vendor to distribution to reseller to end user, particularly in relation to emerging technologies. He is currently an independent consultant focused on enabling drivers of sales growth, management of profit profiles, and unlocking the achievement of long-term organizational goals.

"Brian Aebig has over three decades of experience in enterprise IT supply chains, distribution, sales and profit drivers," said Plurilock CEO Ian L. Paterson. "He understands in a way that few others do how to unlock synergies and success for each stakeholder in enterprise IT, from vendor to distributor to reseller to end user and to leverage these synergies to drive growth and profitability."

"Plurilock's unique combination of proprietary cybersecurity IP, deep cybersecurity expertise, and a comprehensive line of IT solutions and services creates an unusual opportunity for both customer and sales growth in today's cybersecurity-driven IT landscape," said Mr. Aebig. "Plurilock has tremendous potential, and I'm excited to join the Company to help drive their success."

A total of 20,000 options will be granted to certain consultants of the Company pursuant to the Omnibus Plan (which plan is subject to disinterested shareholder and TSXV approvals) with a strike price of $1.00. The stock options are granted for a five-year term from July 29, 2024, and vesting will commence immediately upon obtaining disinterested shareholder approval to the Omnibus Plan.

About Plurilock

Plurilock sells cybersecurity solutions to the United States and Canadian Federal Governments along with Global 2000 companies. Through these relationships, Plurilock sells its unique brand of Critical Services-aiding clients with our expertise to defend against, detect, and prevent costly data breaches and cyberattacks.

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

Sean Peasgood
Investor Relations
sean@sophiccapital.com
647.953.5607

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/218194

FAQ

Who is Brian Aebig and why was he appointed to Plurilock's Industry Advisory Council?

Brian Aebig is a 35-year veteran of the IT industry with extensive experience in enterprise sales and supply chain distribution. He was appointed to Plurilock's Industry Advisory Council due to his deep expertise in IT solutions distribution and understanding of end-to-end IT supply chains, which is expected to benefit Plurilock's growth strategy.

What is the stock symbol for Plurilock Security Inc.?

Plurilock Security Inc. trades on the TSX Venture Exchange under the symbol PLUR and on the OTCQB under the symbol PLCKF.

How many stock options were granted by Plurilock and at what price?

Plurilock granted 20,000 stock options to certain consultants with a strike price of $1.00. These options are subject to disinterested shareholder and TSXV approvals.

What is the vesting period for the stock options granted by Plurilock on July 29, 2024?

The stock options granted by Plurilock on July 29, 2024, have a five-year term, and vesting will commence immediately upon obtaining disinterested shareholder approval to the Omnibus Plan.