Vancouver, British Columbia--(Newsfile Corp. - May 2, 2022) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) and related subsidiaries ("Plurilock" or the "Company"), an identity-centric cybersecurity solutions provider for workforces, is pleased to announce the addition of Jennifer Swindell to its board of directors. 

With over 25 years of strategic business development and risk assessment experience, Ms. Swindell last served as the Senior Vice President and General Manager of Perspecta's Trusted Solutions Group, where she led corporate strategic initiatives and provided life-cycle security services support for U.S. government agencies within the Department of Defense and Department of Homeland Security. Previously, she worked for Booz Allen Hamilton for 19 years, rising from Associate to Senior Vice President in increasingly larger roles serving Defense, Homeland Security and Law enforcement agencies. Ms. Swindell also served in the U.S. Navy as a Special Operations Officer.

Ms. Swindell currently serves as an advisory board member for Toffler Associates, Inc. She holds a Bachelor's degree in Economics from Wesleyan University, an MBA from Duke University's Fuqua School of Business, and attended Executive Education classes in Strategy and Innovation at Massachusetts Institute of Technology's Sloan School of Business.

"We are excited to announce that Jennifer Swindell, who is a seasoned business development executive that has worked with or served in the U.S. government and military, has joined Plurilock's board of directors," said Robert Kiesman, Chairman of PlurilockTM. "Her extensive experience in scaling high impact teams at the intersection of government and commercial national security interests is a key addition to the Plurilock board. Jennifer brings a successful track record of more than 25 years of transformational leadership experience, and we will benefit from her guidance as we further grow the Plurilock family of companies to become a leader in the zero trust identity space." 

Grant of Stock Options

Plurilock has granted an option for Ms. Swindell to purchase an aggregate of 300,000 common shares at an exercise price of $0.26 per share, which will vest over three years from the grant date. The stock options are granted for a ten-year term from April 29, 2022.

Non-binding Letter of Intent 

On April 4, 2022, the Company's subsidiary, Aurora Systems Consulting Inc., entered into a non-binding letter of intent to acquire all net assets from a regional USA-based IT & cybersecurity company (the "Asset Acquisition"). Closing of the Asset Acquisition is subject to the negotiation and entering into of a definitive agreement, the receipt of all applicable approvals (including the TSX Venture Exchange) and the satisfaction or waiver of all closing conditions. There can be no assurance that the Asset Acquisition will be completed.

About Plurilock

Plurilock provides identity-centric cybersecurity for today's workforces. The Plurilock family of companies enables organizations to operate safely and securely while reducing cybersecurity friction. Plurilock offers world-class IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division. Together, the Plurilock family of companies delivers persistent identity assurance with unmatched ease of use.

For more information, visit https://www.plurilock.com or contact:

Ian L. Paterson
Chief Executive Officer
ian@plurilock.com
416.800.1566

Roland Sartorius
Chief Financial Officer
roland.sartorius@plurilock.com

Prit Singh
Investor Relations
prit.singh@plurilock.com
905.510.7636

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, the success of the Company in obtaining new or extended contracts or orders; the Company's ability to maintain existing customers or develop new customers; the Company's ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof; and unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. 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.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122347