- Plurilock Security ( OTCQB:PLCKF ) commenced a non-brokered private placement of convertible debenture units at $1,000/debenture unit for total gross proceeds of up to C$2.5M.
- Each debenture unit will consist of C$1,000 principal amount of 10% unsecured convertible debenture with a maturity date of 48 months from issuance date and 500 share purchase warrants.
- Each warrant holder is entitled to acquire one share at an exercise price of $0.40/warrant share for 24 months from issuance date.
- Offer closing is expected on or about Aug.5, 2022.
- Net proceeds will be used for Plurilock's acquisition pipeline and for general corporate purposes; company plans to complete several accretive acquisitions that generate cash flow, improve gross margins and provide the opportunity for unlocking revenue and cost synergies while bolstering its zero-trust technology portfolio.
For further details see:
Plurilock Security to raise $2.5M in debenture units offering