Plurilock Secures Multiple High-Profile Government Sales in The U.S. and Canada

Rhea-AI Summary

Plurilock Security has secured three significant government contracts in the U.S. and Canada, totaling CAD$1.3 million. The contracts include a five-year US$227,000 order from U.S. Cyber Command, a US$517,000 order from the U.S. Navy, and a three-year CAD$248,000 order from the Privy Council Office of Canada.

The orders, secured through subsidiaries Aurora Systems Consulting and Integra Networks , are for infrastructure and network security solutions. The company expects delivery and fulfillment to begin during Q1 2025, with expenses and gross margins consistent with historical Solutions Division performance. The contracts were obtained through key federal procurement channels, including the SEWP V contract vehicle, which NASA has extended until at least October 2025.

Positive

• Secured multiple government contracts worth CAD$1.3 million total
• Obtained long-term contracts: 5-year deal with U.S. Cyber Command, 3-year deal with Privy Council Office
• Expanded presence in high-security government sector
• SEWP V procurement vehicle extended until October 2025, ensuring continued access to federal contracts

Negative

• None.

• Reinforces Plurilock's position as a trusted provider to the public sector
• Customers include U.S. Cyber Command, the U.S. Navy, and the Privy Council Office of Canada
• Total contract value of the three sales combined is CAD$1.3 million

Vancouver, British Columbia--(Newsfile Corp. - February 18, 2025) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity services and solutions provider, announces multiple government contracts across the U.S. and Canada. Plurilock has been awarded three sales through key federal procurement channels, including the U.S. federal government's SEWP V contract vehicle and Canadian federal procurement initiatives.

The sales include a five-year (base plus four option years) US$227 thousand order from U.S. Cyber Command signed January 31, 2025, and a single order for US$517 thousand from the U.S. Navy signed February 11, 2024, both secured through the Company's subsidiary, Aurora Systems Consulting, as well as a three-year CAD$248 thousand order from the Privy Council Office of Canada signed February 7, 2025, secured through the Company's subsidiary, Integra Networks Corporation. These sales include infrastructure and network security solutions.

Plurilock anticipates that the expenses associated with fulfillment of these sales and the gross margin will be consistent with the Company's historic Solutions Division hardware and system sales business as previously reported in the Company's most recent MD&A. Plurilock expects delivery and fulfillment to begin during Q1 2025. Further details with respect to the terms of the contract are subject to confidentiality and non-disclosure.

"Plurilock continues to demonstrate resilience and momentum for our public sector customers," said Ian L. Paterson, CEO of Plurilock. "These wins reinforce our role as a key cybersecurity and IT supplier to some of the most security-conscious government entities in North America."

Continued Success in Federal Government Procurement

These contracts were secured through key government procurement vehicles, including SEWP V, which was recently extended by NASA until at least October 2025, with optional extensions through 2026. SEWP V enables streamlined procurement of IT and cybersecurity solutions for federal agencies, ensuring compliance and reducing procurement delays. Plurilock remains committed to supporting government agencies in their cybersecurity and IT modernization efforts, ensuring uninterrupted access to advanced security solutions.

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/240851

FAQ

What is the total value of Plurilock's (PLCKF) recent government contracts?

The total contract value of the three combined sales is CAD$1.3 million.

Which government agencies awarded contracts to Plurilock (PLCKF) in February 2025?

U.S. Cyber Command, U.S. Navy, and the Privy Council Office of Canada awarded contracts to Plurilock.

What is the duration of Plurilock's (PLCKF) contract with U.S. Cyber Command?

The U.S. Cyber Command contract is a five-year order (base plus four option years) worth US$227,000.

When will Plurilock (PLCKF) begin fulfillment of these government contracts?

Plurilock expects delivery and fulfillment to begin during Q1 2025.

How long has NASA extended the SEWP V procurement vehicle used by Plurilock (PLCKF)?

NASA has extended the SEWP V procurement vehicle until at least October 2025, with optional extensions through 2026.