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Plurilock Security (TSXV: PLUR) continues to demonstrate its positive relationship with arms of the United States Government. The company this morning indicated it has entered into another sales agreement with a department of the government, which contains renewal options for up to four years.
The transaction, established with the United States Department of Transportation, will see the company collect US$100,000 under the initial terms of the agreement. The sale is said to include both key hardware as well as software to the department, with optional renewals under the contract under a four year period bringing the combined value of the transaction to US$215,000 over a five year period.
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“As a company, we’re proud to be a provider to a number of government agencies in the U.S., both at the state and federal level. It’s always a privilege to work with clients of this caliber, and as a company we continue to strive to justify the faith in Plurilock that procurements like these represent,” commented Plurilock CEO Ian L. Paterson.
The US Department of Transportation is just one of a number of federal letter agencies that Plurilock has managed to secure as a client. Other current customers include the US Department of Homeland Security, US Department of Defense, the US Military, the Royal Canadian Mounted Police, and more.
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The transaction follows Plurilock yesterday securing the addition of Best Buy Canada President Ron Wilson to its Industry Advisory Council. Wilson, with over two decades of experience in senior leadership roles within the fields of merchandising and operations, joins a team of highly regarded tech names on the council.
Plurilock Security last traded at $2.52 on the TSX Venture.
FULL DISCLOSURE: Plurilock Security is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Plurilock Security. The author has been compensated to cover Plurilock Security on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
