Plurilock Sets Vote on Quantum eMotion Acquisition

Insider Brief

• Plurilock shareholders will vote Nov. 18 on a proposed acquisition by Quantum eMotion that would combine quantum-based security technologies with Plurilock’s cybersecurity operations and customer network.
• Shareholders would receive C$0.084 in cash and 0.0763 Quantum eMotion shares for each Plurilock share, implying an offer value of C$0.28 per share.
• Plurilock’s board recommends approval, with completion expected in late November subject to shareholder, court and other required approvals.

Plurilock Security shareholders will vote Nov. 18 on a proposed acquisition by Quantum eMotion, a deal intended to pair quantum-based security technology with an established cybersecurity business and its customer network.

Plurilock said in a news release that it has filed and mailed documents explaining the transaction ahead of a special shareholder meeting in Vancouver. The companies expect to complete the acquisition in late November if shareholders, the court and other authorities approve it.

The announcement marks another step toward completing the proposed purchase, rather than a completed acquisition.

Under the agreement, Quantum eMotion would acquire all outstanding Plurilock common shares. Shareholders would receive C$0.084 in cash and 0.0763 of a Quantum eMotion share for each Plurilock share they own.