Quantum entropy and hardware security vendor Quantum eMotion Corp. (NYSE American: QNC / TSXV: QNC) has executed a definitive agreement to acquire AI-driven cybersecurity provider Plurilock Security Inc. (TSXV: PLUR) in a court-approved arrangement valued at approximately C$33.8 million ($23.8 million USD). The acquisition provides QeM with an established enterprise customer base, public-sector procurement vehicles across Canada, the U.S., and NATO, and an immediate commercial sales and deployment channel for its quantum random number generation (QRNG) hardware and entropy modules.
Under the terms of the transaction, Plurilock shareholders will receive C$0.084 in cash and 0.0763 QeM common shares per Plurilock share, implying a total consideration of C$0.28 per share—a 100% premium over Plurilock’s 20-day volume-weighted average price (VWAP) as of September 25, 2026. The transaction is structured as 30% cash and 70% equity, with cash funded from QeM’s balance sheet. Upon closing, existing QeM and former Plurilock shareholders will hold approximately 95.97% and 4.03% of the combined company, respectively. Additionally, QeM has extended a C$2.0 million secured bridge financing facility (8.5% interest) to fund Plurilock’s pre-closing operations and collaborative integration work.
| [ Quantum eMotion / Plurilock Acquisition & Platform Overview ] | ||
|---|---|---|
| Financial & Deal Terms | Technology & Standards Validation | Commercial & Strategic Footprint |
| • Equity Value: C$33.8 Million (~$24.8M USD) • Price per Share: C$0.28 (100% Premium) • Mix: 30% Cash (C$0.084) / 70% Equity (0.0763 shares) • Bridge Credit: C$2.0M at 8.5% per annum | • eCore-Q QRNG: NIST SP 800-90B entropy validation package submitted via Lightship Security • SecureKey Module: FIPS 140-3 Implementation Under Test (IUT) • Plurilock IP: Behavioral AI & continuous risk analysis | • Combined Entity Lead: Francis Bellido (CEO) • Plurilock Lead: Ian L. Paterson (Executive VP) • Procurement Channels: Canada, US Govt, NATO • Target closing window: Late 2026 |
The transaction bridges QeM’s quantum hardware and entropy validation pipeline with Plurilock’s 25-year operational footprint in behavioral biometric access control, identity management, and cybersecurity services. The combined software and hardware stack will pair QeM’s quantum-generated entropy (eCore-Q) and FIPS 140-3 Cryptographic Modules with Plurilock’s continuous, AI-driven risk analysis engines to enable adaptive access control, dynamic key rotation, and automated session termination across defense, healthcare, and critical infrastructure networks.
Review the transaction disclosure via Newsfile Corp here.
September 29, 2026