Plurilock Receives Funding to Further Develop Passwordless Authentication Technology

Victoria, British Columbia--(Newsfile Corp. - August 6, 2020) - Plurilock Security Solutions, Inc., a leading provider of invisible and continuous authentication technologies for enterprises, this week announced that it will receive advisory services and funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) for a research and development project.

The funding provides Plurilock with up to CAD$120,000 to support the development of advanced passwordless authentication technologies that can be used in commercial, enterprise, and highly regulated cybersecurity environments.

The funding will support Plurilock's passwordless authentication initiative, which is designed to eventually enable users to log in to computing environments and systems without having to perform login steps of any kind-no usernames, passwords, USB insertions, or fingerprint and face scans.

"This non-dilutive funding supports our current research and development goals at Plurilock," says Ian L. Paterson, CEO of Plurilock. "The behavioral biometrics and machine learning technologies at the heart of Plurilock products have always logically pointed toward a passwordless experience, and we're excited that support from NRC IRAP will enable our effort to ultimately bring that experience to market."

Paterson says that when mature, the technology will enable enterprise users to enjoy a work life that is largely free of login prompts, the need to enter passwords, to carry dedicated authentication devices, or to perform other authentication steps. Instead, devices that users already regularly interact with will simply recognize them by monitoring the many sensors and other kinds of interactive data that current computing devices generate at all times during use.

The work supported by NRC IRAP will leverage Plurilock's existing expertise in behavioral biometrics and invisible authentication, expanding these capabilities significantly to fill the market need for true passwordless authentication solutions.

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

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/61112