Plurilock Security Inc. (TSX-V:PLUR), the cybersecurity solutions provider, announced a private placement of up to $4.5 million at $0.20 per unit, each comprising a share and a 24-month warrant.
The company will also settle debt up to $500,000 in units. Furthermore, it reprices $1.52 million of convertible debentures to $0.25 per share.
Plurilock also said its Chief Technology Officer Jord Tanner will depart as part of a cost reduction plan.