Highlighting Strategic Focus, Sector Strength, and Margin Expansion
Vancouver, British Columbia--(Newsfile Corp. - April 17, 2025) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity solutions provider, is providing a corporate update as the Company continues to execute on its business plan.
Strategic Progression Toward Software and Commercial Markets
The cybersecurity sector remains a critical area of focus for both public and private sector organizations. Against this backdrop, Plurilock continues to make progress on its core initiatives, including a measured shift toward software-driven engagements and commercial business segments. These efforts are designed to support longer-term margin improvement by diversifying revenue streams and deepening re-occurring service relationships.
"Cybersecurity is not a discretionary expense, it's a core requirement, and our customers continue to rely on us to deliver," said Ian L. Paterson, CEO of Plurilock. "Our focus on high-margin solutions, strong partner relationships, and strategic expansion into commercial markets positions us well for continued stability and long-term success."
Strong Industry Tailwinds and Active Partner Participation
Plurilock's technology and channel partners continue to play a critical role in market access and service delivery. The Company has seen steady engagement and continues to fulfill a wide range of customer requirements across its government and enterprise channels, contributing to active business development and customer acquisition efforts.
While market conditions remain dynamic, ongoing regulatory developments, an expanding cyber threat landscape, and increasing adoption of zero trust frameworks continue to reinforce the essential nature of cybersecurity. These macro-level trends provide a favorable backdrop for Plurilock's solutions, pointing to sustained demand for solutions that help address evolving risk.
Operational Stability and Performance
Plurilock's operations remain on solid footing, supported by consistent client activity, pipeline strength, and efficient delivery of high-value cybersecurity services. Recent contract wins and project completions demonstrate the resilience of the business across market conditions.
With reference to our most recently published interim unaudited consolidated financial statements for the 9-month period ended September 30, 2024, the Company's gross margins demonstrated improvement from prior periods as Plurilock scales its Critical Services business and identifies additional software-led opportunities. The Company is prioritizing projects and clients that support sustainable, higher-margin growth.
Plurilock remains committed to supporting its customers, building resilient operations, and carefully managing its growth trajectory.
The Company expects to provide further detail and commentary in its upcoming year-end results and conference call.
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.
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.
