Plurilock Announces Payment of Debenture Interest

Executive Summary

• Plurilock Security Inc. converted $63,750 of accrued interest on its September and November 10% unsecured convertible debentures into 312,188 common shares at $0.2042 per share.
• The conversion reduces outstanding debt obligations under the September ($275,000) and November ($3,000,000) debenture issuances.
• No cash outlay was required; the transaction was satisfied entirely by share issuance.

Key Details

• Debentures Involved:
• September Debentures – 10% unsecured convertible debentures issued on Sep 20 2022, principal $275,000.
• November Debentures – 10% unsecured convertible debentures issued on Oct 30 2025, principal $3,000,000.
• Interest Paid via Conversion: Aggregate interest of $63,750 was satisfied by share issuance.
• Shares Issued: 312,188 common shares of Plurilock Security Inc.
• Conversion Price: $0.2042 per share (price applied to the interest amount).
• Resulting Equity Dilution: New shares increase total outstanding share count; exact dilution percentage not disclosed.
• Effect on Debt: Corresponding reduction in accrued interest liability on both debenture series; principal amounts remain unchanged.

Notable Quotes

(No executive quotes were included in the release.)