Plurilock Secures $1.3M in New Critical Services Contracts Across U.S. Commercial Clients

Rhea-AI Summary

Plurilock Security (PLCKF) has secured new contracts worth $1.3M CAD from April to May 2025, strengthening its position in cybersecurity solutions. The deals include a $270,484 annual penetration testing agreement with a U.S. advertising company and two contract extensions with a NASDAQ-listed semiconductor manufacturer: $264,321 for SIEM services and $784,904 for SOC analyst support. These Critical Services engagements, delivered in partnership with CrowdStrike and Abnormal Security, showcase Plurilock's comprehensive security capabilities. The company's Critical Services business demonstrated strong growth with a 178% year-over-year increase in 2025, contributing to multi-year revenue visibility and recurring revenue streams.

Positive

• Secured new contracts worth $1.3M CAD, expanding multi-year revenue visibility
• Critical Services business grew 178% year-over-year in 2025
• Successfully extended contracts with existing NASDAQ-listed client, demonstrating strong client retention
• Gross margins expected to align with historically reported Professional Services business

Negative

• None.

• Board-level focus on offensive security drives enterprise wins
• Expands multi-year revenue and sharpens future cash flow visibility
• Reflects increasing demand for integrated services led by Plurilock Critical Services

Vancouver, British Columbia--(Newsfile Corp. - June 5, 2025) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity solutions provider, announces that it has closed $1,319,709 in new contracts between April and May 2025. The deals include multi-year Critical Services engagements with key U.S. commercial clients, further strengthening Plurilock's presence across regulated and high-risk enterprise environments. All dollar figures are in Canadian dollars unless otherwise noted.

Highlights of the new contracts include:

• A new Critical Services engagement: a $270,484 annual penetration testing agreement with a U.S.-based in-home advertising company

• Two contract extensions with a NASDAQ-listed semiconductor manufacturer: a $264,321 renewal for SIEM (Security Information and Event Management) engineering services, and a $784,904 extension for SOC (Security Operations Center) analyst support

These contracts are led by Plurilock's Critical Services team and delivered in coordination with technology partners CrowdStrike and Abnormal Security. Plurilock remains the lead architect in these deployments, integrating partner technologies as needed while maintaining end-to-end accountability for customer outcomes.

"These wins highlight our growing role as the preferred offensive security and advisory partner for organizations operating in complex, high-risk environments," said Ian L. Paterson, CEO of Plurilock. "Critical Services engagements are increasingly board-level initiatives. Our ability to lead comprehensive security programs, from physical penetration testing to SIEM and SOC support, demonstrates both the breadth of our expertise and the trust we've earned with enterprise clients."

All new contracts directly contribute to the expansion of Plurilock's Critical Services business, which grew 178% year-over-year in 2025. These wins reinforce Plurilock's multi-year backlog and give investors greater visibility into future recurring revenue.

By operating across both digital and physical threat landscapes, Plurilock gives clients the tools and intelligence needed to assess, contain, and mitigate real-world risk. These recent deals illustrate how embedded services consistently lead to repeat business and deeper strategic engagement.

In connection with $1.3M in sales, Plurilock anticipates that both the expenses associated with fulfillment of these sales and the gross margin will be consistent with the Company's historic Professional Services business as previously reported in the Company's most recent MD&A. Plurilock began delivery and fulfillment during Q2 2025. Further details with respect to the terms of the contract are subject to confidentiality and non-disclosure.

For more information about Plurilock Critical Services, visit: https://plurilock.com/cs/

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/254539

FAQ

What is the total value of Plurilock's (PLCKF) new contracts announced in June 2025?

Plurilock secured new contracts totaling $1,319,709 CAD between April and May 2025.

How much did Plurilock's Critical Services business grow in 2025?

Plurilock's Critical Services business grew 178% year-over-year in 2025.

What services are included in Plurilock's new contracts with the semiconductor manufacturer?

The contracts include $264,321 for SIEM engineering services and $784,904 for SOC analyst support.

Who are Plurilock's technology partners for these Critical Services contracts?

Plurilock delivers these services in coordination with technology partners CrowdStrike and Abnormal Security.

What is the value of Plurilock's new penetration testing agreement?

The new penetration testing agreement with a U.S.-based in-home advertising company is worth $270,484 annually.