Cybersecurity Stock News: Plurilock (TSXV: PLUR) Awarded US$1.15 Million Order with U.S. Department of the Navy
Vancouver, British Columbia - May 7, 2021 (Newsfile Corp.) (Investorideas.com Newswire) Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) and related subsidiaries ("Plurilock" or the "Company"), an identity-centric cybersecurity solution provider for workforces, is pleased to announce that it was awarded a US$1.15 million order with the U.S. Department of the Navy under NASA's Solution for Enterprise-Wide Procurement ("SEWP"), United States Government-Wide Acquisition Contract Vehicle ("GWAC"). SEWP consists of over a large pool of pre-competed prime contract holders ("contractors"), including more than one hundred U.S. small businesses. The order is part of "SEWP V", the latest version of GWAC, which NASA released in May 2015 and boasts the largest pool of contractors yet as well as detailed and automatic reporting to Chief Information Officers ("CIOs") in order to help meet Federal Information Technology Acquisition Reform Act. All SEWP V contracts have an effective ordering period between May 1, 2015 through April 30, 2025.
"As part of our long-term plan to expand across various industry verticals in North America, the order enables Plurilock to further solidify our position in capturing more opportunities within the U.S. government sector," said Ian Paterson, CEO of Plurilock. "Given the current cost-conscious environment, we will continue with our modest margin approach to win SEWP V awards, rapidly grow our customer base and create opportunities for follow-on sales of our core products that have higher margins."
The U.S. Department of the Navy is one of the three main military departments within the U.S. Department of Defense. The order is for supply of Dell Servers to the Department of Navy.
Plurilock provides identity-centric cybersecurity for today's workforces. Plurilock offers world-class cybersecurity solutions paired with AI-driven, cloud-friendly security technologies that deliver persistent identity assurance with unmatched ease of use. The Plurilock family of companies enables organizations to operate safely and securely-while reducing cybersecurity friction.
For more information, visit https://www.plurilock.com or contact:
Ian L. Paterson
Chief Executive Officer
Chief Financial Officer
This press release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") which relate 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, impact of general economic conditions, 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 and are otherwise disclosed in its filings with securities regulatory authorities which are available on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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