PLCKF - Breaking News: Plurilock Expands Sales Team

Plurilock Security Inc. (OTCQB: PLCKF) (TSX-V: PLUR) (“Plurilock” or the “Company”), an innovative cybersecurity company that provides frictionless and continuous authentication, is pleased to announce the expansion of its direct sales team as well as the grant of stock options to its employees and a Director of the Company.

Expansion of Direct Sales Team

Given the rising demand for cybersecurity solutions across various industry verticals, the expansion of the direct sales team will increase Plurilock’s outreach in delivering authentication solutions to a wider audience. The new members of the direct sales team will be tasked with executing numerous sales initiatives to promote the Company’s cybersecurity offerings to companies in North America in order to grow Plurilock’s client base.

The first hire brings immense experience in organizational development and client relations as well as a strong analytical background, having previously worked as a software engineer and a solutions architect in leading cyber intelligence firms. The other new addition to the sales team is a US Armed Services veteran who has held leadership roles in cybersecurity and information technology within large financial services firms and information security companies such as BNY Mellon and JP Morgan Chase. Collectively, the new additions will draw on their expertise to educate prospective clients about the key advantages of Plurilock’s state-of-the-art solutions in order to secure new client contracts.

“The expansion of our direct sales team represents an integral step for us to grow our North American client base,” said Ian L. Paterson, CEO of Plurilock Security Inc. “By expanding our direct sales team, we hope to engage more companies across various sectors that require a strong cybersecurity infrastructure.”

The new additions are part of Plurilock’s direct sales strategy, which will complement its extensive channel-led sales strategy, resulting in a diversified approach to increase the Company’s client outreach.

Grant of Stock Options

Plurilock has granted stock options to new employees of the Company to purchase an aggregate of 50,000 common shares at an exercise price of $0.60 per share, which will vest over four years from the grant date. The stock options are granted for a ten-year term from February 26, 2021.

The Company has also granted stock options to a Director of Plurilock to purchase an aggregate of 100,000 common shares at an exercise price of $0.56 per share, which will vest over three years from the grant date. The stock options are granted for a five-year term from March 5, 2021.

About Plurilock

Plurilock is an innovative, identity-centric cybersecurity company that reduces or eliminates the need for passwords, extra authentication steps, and cumbersome authentication devices. Plurilock’s software leverages state-of-the-art behavioral-biometric, environmental, and contextual technologies to provide invisible, adaptive, and risk-based authentication solutions with the lowest possible cost and complexity. Plurilock enables organizations to compute safely-and with peace of mind.

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