Plurilock Security Inc. (TSX-V:PLUR) announced that its wholly-owned subsidiary Integra Networks Corporation has obtained a revolving line of credit of up to C$1.5 million from Pathward, National Association, a division of MetaBank NA.
“We are pleased to again partner with Pathward, National Association, on securing this revolving line of credit for up to C$1.5 million,” said Ian L Paterson, CEO of Plurilock in a statement.
“This credit facility is a shareholder-friendly financing alternative that provides us with flexibility to also address our working capital needs at Integra and continues to enable the company to focus on its growth plans, which include strategic acquisitions and organic growth from our innovative suite of zero trust identity products," he added.
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The company said the proceeds of the loan will be used by Integra for working capital purposes. The loan is secured against all current and future assets of the company and Integra.
Plurilock provides identity-centric cybersecurity which enables organizations to operate safely and securely while reducing cybersecurity friction.
The company offers world-class IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division.
Contact the author at jon.hopkins@proactiveinvestors.com