Plurilock Awarded US$198,000 Contract by the US Department of Homeland Security

Latest in a series of DHS contract will continue to advance the development of key smart device anomaly detection technologies

Victoria, British Columbia--(Newsfile Corp. - July 30, 2020) - Plurilock Security Solutions Inc., a leading provider of invisible and continuous authentication technologies for enterprises, this week announced that it has been awarded a new contract by the US Department of Homeland Security (DHS) to continue its development of advanced machine-to-machine (M2M) authentication and anomaly detection tools.

The contract, which totals some US$198,000, is the third in a series of related contracts funded through the DHS Science and Technology (S&T) Directorate's Silicon Valley Innovation Program (SVIP) and renews the ongoing collaboration between Plurilock and DHS.

The technology under development is designed to provide more secure and intelligent machine-to-machine authentication, enabling devices on networks to detect instances in which adjacent devices have been replaced, tampered with, or may in other ways represent an increased security risk.

"We're pleased to win another contract from the U.S. Department of Homeland Security," says Ian Paterson, CEO of Plurilock. "The contract demonstrates the interest that leading government agencies have in our behavioral biometrics technology and in the anomaly detection and artificial intelligence capabilities that power it. These provide our organization with a natural advantage in developing machine-to-machine authentication solutions."

The technology in question may in part enable future Internet of Things (IoT) authentication in certain US federal networks, and may also find other applications as machine-to-machine authentication becomes critical to the security of modern work environments.

About Plurilock

Plurilock is a cybersecurity company that provides advanced and continuous authentication for standards and regulatory compliance. Plurilock's software leverages state-of-the-art behavioral-biometric, environmental, and contextual technologies to provide invisible, adaptive, and risk-based MFA solutions with the lowest possible cost and complexity. Plurilock enables organizations to compute safely-and with peace of mind.

For more information, visit https://www.plurilock.com.

For further information, please contact:

Ian Paterson
Chief Executive Officer
ian@plurilock.com
212.780.3255

Roland Sartorius
Chief Financial Officer
roland.sartorius@plurilock.com

Prit Singh
Investor Relations
ir@plurilock.com

905.510.7636

About SVIP

SVIP is one of S&T's programs and tools to fund innovation and work with private sector partners to advance homeland security solutions. SVIP reaches out to innovation communities across the globe to harness commercial research and development for government applications, co-invest in, and accelerate the transition of technology to the commercial market. Companies participating in SVIP are eligible for up to $800,000 of non-dilutive funding to develop and adapt commercial technologies for homeland security use cases.

For more information on current and future SVIP solicitations, visit https://www.dhs.gov/science-and-technology/svip or contact dhs-silicon-valley@hq.dhs.gov.

Forward-Looking Statements

This press release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") which relate to future events or Plurilock's future business, operations, and financial performance and condition. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Plurilock's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. Many of these factors are beyond the control of Plurilock. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof and Plurilock undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60772

info