Plurilock Security Inc. (TSX-V:PLUR) said it has closed the third and final tranche of its previously announced non-brokered private placement financing for aggregate gross proceeds of $198,995, bringing the aggregate gross proceeds of the offering to $1,755,115.
The company said it intends to use the proceeds raised from the offering for general corporate purposes.
The final tranche of the private placement consisted of 1,421,393 units of the company at a price of 14 cents per unit. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional share at a price of 25 cents per warrant share until January 16, 2025.
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In connection with the final tranche, the company paid arm's-length finders an aggregate of $7,146.30 and issued an aggregate of 48,545 warrants, representing 7% of the proceeds raised from those purchasers introduced by such finders and 7% of the total number of units sold to investors introduced by such finders.
Concurrently with closing the final tranche, the company also issued 77,000 finder's warrants to an arm's-length finder, representing 7% of the total number of units sold to investors introduced by such finder in connection with the closing of the first tranche of the private placement.
Each finder's warrant provides that such finder may acquire common shares of the company at a price of 14 cents for a period of two years.
Plurilock provides identity-centric cybersecurity for today's workforces. The company offers world-class IT (information technology) and cybersecurity solutions through its solutions division, paired with proprietary, AI-driven artificial intelligence) and cloud-friendly security through its technology division.
Contact the author at jon.hopkins@proactiveinvestors.com