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Plurilock Security (TSXV: PLUR) appears to be making significant inroads with major semiconductor manufacturers. The company this morning indicated it has signed yet another contract with an operator in the space.
The latest contract, valued at US$1.7 million, is said to be with an existing client that the company began providing critical services to last fall. The latest agreement, which is through the firms Aurora Systems Consulting division, is a result of that prior work being successful, and is expected to further enhance the clients cybersecurity infrastructure.
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“The expansion of our partnership with this major semiconductor manufacturer demonstrates the efficacy of both our Critical Services and Aurora Systems Consulting. This new contract is a testament to the strength of our solutions and the results we have delivered. It also highlights our ability to expand contracts with satisfied clients over time as we continue to build trust through successful engagements,” commented Plurilock CEO Ian L. Paterson.
READ: Plurilock Enters US$19.3 Million Contract With Semiconductor Firm
The US$1.7 million contract follows Plurilock last week signing its largest contract in its history, valued at US$19.3 million, with another semiconductor client. The company also secured a US$1.9 million contract with a semiconductor firm last week under its Critical Services division.
The company also indicated this morning that it has seen 13.6 million common share purchase warrants exercised, generating gross proceeds of $3.6 million for the firms treasury.
Plurilock Security last traded at $0.64 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.
