Press release

Plurilock Creates Advisory Board to Guide Company Growth and Development

VANCOUVER, BRITISH COLUMBIA—Plurilock Security Inc. (TSXV:PLUR) (“Plurilock” or “the Company”), an innovative cybersecurity company that provides frictionless and continuous authentication using machine learning and behavioral biometrics, today announced that it has appointed three prominent industry leaders to its newly formed Advisory Board.

The Advisory Board consists of experts in the technology sector with a particular focus on scaling organizations through strategic M&A, operational strategy, and private and public financings. Collectively, the initial members of the advisory board bring a unique skill set to Plurilock, including executives that have developed ground breaking cybersecurity technology, raised and funded in excess of $100M for multiple technology and financial services firms, and facilitated cross-border M&A for shareholders of private and public companies.

Members of the Advisory Board will provide guidance to Plurilock on matters involving planning and executing strategic initiatives that will deliver significant value to shareholders. Specifically, the Advisory Board will assist Plurilock in positioning itself for rapid North American and international expansion in the Cybersecurity and Identity and Access Management markets for enterprises in regulated verticals—including, but not limited to, financial services, healthcare, critical infrastructure, and government. The members will share valuable input on all matters related to M&A activity, business development, research and development, and other key value drivers.

The new appointees to the Advisory Board include:

Dr. Issa Traoré, Ph.D., a Plurilock co-founder, coordinator of the Information Security and Object Technology (ISOT) Research Group, and current professor in the Department of Electrical and Computer Engineering at the University of Victoria. Dr. Traoré was a key figure in the research and development phase of Plurilock’s core technology and intellectual property assets. He will continue to serve as a key Plurilock input with world-class expertise in network security, behavioral biometrics technology, and software quality engineering.

Merv Chia, a veteran entrepreneur, leader, and technology-focused investor with a strong background in corporate finance and structure. Mr. Chia has built large enterprises in various industries—among them, light industrial manufacturing and construction, electronic control systems, and real estate development. Mr. Chia is currently the President and Chief Executive Officer of private investment firm NEX Industries Corp. He is also the Founder of NEX Technology Capital, CET Energy Technologies, Pan Terra Industries and the former Chairman and CEO of Newton Energy UK. He is an active start up investor with three public exits. Mr. Chia’s broad experience in governance, M&A transactions, and capital restructuring includes the management of top financial services firms and technology-focused private equity funds, the acquisitions of over twenty businesses, and the restructuring of over $100 million in investment syndicate assets. He also served as a development advisor in war torn countries.

Mark Orsmond, an experienced business leader with a proven track record of managing and growing businesses to become well-established global enterprises. For approximately three years, Mark worked as the Chief Financial Officer of the Corix Group of Companies where he managed a team of over 45 accounting and finance professionals that administered an annual budget in excess of $2.4 billion and a $1.6 billion debt portfolio. Prior to working at Corix, Mark was a principal of the All-Sea Group of Companies which he led, over a 10-year period, to become one of the world’s leading underwater high-capacity service companies. All-Sea secured exclusive supply, warranty, and services contracts for many of the world’s leading marine participants including Rolls Royce, Wartsila, Nakashima, Hyundai, Samsung, Seaspan, Grieg, Husky Oil, Shell Oil, and US marine. Mark was a founder of Movarie Capital, which completed a reverse takeover of Canada Yoga in 2016 and eventually became Well Health Technologies (TSX: WELL). In 2019, Mark oversaw the sale of Nerd EMR and Butterfly, both digital asset platforms, to Well Health, these forming the basis of a strategy to consolidate the OSCAR EMR platform.

“Dr. Traoré, Mr. Chia, and Mr. Orsmond bring significant experience and expertise to Plurilock,” says Robert Kiesman, chairman of Plurilock’s board of directors. “As a group, they offer extensive knowledge and strong leadership that would benefit any organization. That they are aligned with Plurilock, its board of directors, and its senior management as we move to grow in the North American market is a great indicator for Plurilock’s trajectory going forward.”

“We are delighted to be able to work under the guidance of experienced industry leaders that will provide us with technical expertise and key industry insights,” says Plurilock CEO Ian L. Paterson, “Moving forward, we will step-up our efforts to grow our customer base and to continue to deliver cutting-edge authentication and cybersecurity solutions.”

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.

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

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

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”) 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, unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. 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.