Plurilock Provides an Update on the Status of Exercised Warrants
In This Article:
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First tranche of $0.25 warrants ratcheting to $0.40 on April 25, 2025
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Over 22 million $0.25 warrants exercised since free trading was announced raising more than $6 million
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Remaining $0.25 warrants could bring over $2 million in additional funds
Vancouver, British Columbia--(Newsfile Corp. - March 14, 2025) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity services and solutions provider, provides the market with an update on the exercising of the first tranche of warrants which were issued upon closing of the oversubscribed private placement in April 2024.
Management is pleased to announce that as of March 13, 2025, warrants were exercised to purchase 22,502,494 of the Company's common shares at an average price of $0.27, generating $6,089,936 in gross proceeds. Plurilock's Board and management have also exercised warrants for this series to purchase over 1.7 million common shares for a value exceeding $440,000, demonstrating their confidence in the Company's future.
This is an increase from prior updates, including the October 7, 2024 announcement that 13,627,613 warrants were exercised at an average price of $0.26, raising $3,595,644, and the August 28, 2024 announcement that 8,038,946 warrants were exercised at an average price of $0.27, adding $2,190,949 to the Company's Treasury.
First Tranche of $0.25 Warrants Ratcheting to $0.40 on April 25, 2025
With the first tranche of $0.25 warrants set to ratchet to $0.40 on April 25, 2025, the Company encourages shareholders to exercise their warrants before the deadline to maximize their value.
Plurilock remains focused on driving operational efficiency, expanding its commercial and federal cybersecurity footprint, and delivering long-term shareholder value. The Company expects continued momentum in 2025, supported by strong demand for its cybersecurity services and strategic growth initiatives.
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