- Plurilock Security (PLUR) has closed the first tranche of its non-brokered private placement
- The company issued 1,245 convertible debenture units at a price of $1,000 per unit for total gross proceeds of $1,245,000
- Each debenture unit will consist of $1,000 principal amount of 10 per cent unsecured convertible debenture and 500 common share purchase warrants
- The net proceeds will be used for Plurilock’s acquisition pipeline
- Plurilock Security Inc. (PLUR) is up 2.08 per cent trading at C$0.245 a share at 1pm ET
Plurilock Security (PLUR) has closed the first tranche of its previously-announced non-brokered private placement.
The company issued 1,245 convertible debenture units at a price of $1,000 per unit for total gross proceeds of $1,245,000.
Each debenture unit will consist of $1,000 principal amount of 10 per cent unsecured convertible debenture and 500 common share purchase warrants.
The debentures will be convertible into common shares at a conversion price of $0.285.
The debentures have a maturity date of 48 months from the date of issuance.
Each warrant will entitle the holder to acquire one common share for a period of 24 months. The warrants are subject to an acceleration clause.
The company expects to close the second tranche of the non-brokered private placement on or about August 31, 2022.
The net proceeds will be used for Plurilock’s acquisition pipeline and for general corporate purposes.
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.
Plurilock Security Inc. (PLUR) is up 2.08 per cent trading at C$0.245 a share at 1pm ET.
