The contracts highlight Plurilock's ongoing momentum in the public sector
Recent wins include multi-year U.S. Federal agreements and expanding Canadian Government business
Vancouver, British Columbia--(Newsfile Corp. - April 2, 2025) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity solutions provider, announces that it has closed $5.9 million in new contracts between March 14 and March 31, 2025, including multi-year agreements with key U.S. and Canadian Government agencies. All dollar figures are in Canadian dollars unless otherwise noted.
The contracts highlight Plurilock's ongoing momentum in the public sector, with recent wins spanning federal cybersecurity, infrastructure support, and IT services. Several agreements include optional renewal years, providing potential for additional long-term value.
Plurilock's recent contract wins include significant agreements with key federal and public sector clients, reinforcing its role as a trusted cybersecurity and IT provider. The Defense Information Systems Agency (DISA) awarded a multi-year contract for email solutions valued at $3.4 million over five years, supporting critical U.S. defense communications. The U.S. Navy secured $149,300 in maintenance services, ensuring the reliability of its IT infrastructure. Additionally, the U.S. Department of Energy awarded a $271,300 contract for network infrastructure, further highlighting Plurilock's expertise in securing critical government systems. In Canada, Health Canada awarded a $1.4 million contract for VMWare solutions, strengthening its secure computing environment.
Summary of Recent Contracts:
U.S. Government
$3.4 million over five years (one year base plus four option years) for email solutions
$149,300 for maintenance services
$271,300 for network infrastructure
Canadian Government
$1.4 million over three years (one year base plus two option years) for VMware solutions
$579,000 over three years (one year base plus two option years) for VMware solutions
$150,000 for an extended contract for Critical Services
"Securing nearly $6 million in recent business, including multi-year U.S. federal agreements, reinforces Plurilock's strong position as a trusted cybersecurity and IT provider for government and public sector clients," said Ian L. Paterson, CEO of Plurilock. "With growing demand for advanced security and infrastructure solutions, we remain focused on leveraging our expertise and strong customer relationships to expand our presence across both U.S. and Canadian government agencies."
In connection with $5,799,600 million in sales, Plurilock anticipates that both the expenses associated with fulfillment of these orders 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. In connection with $150,000 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 Q1 2025. Further details with respect to the terms of the contract are subject to confidentiality and non-disclosure.
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.
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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.
