Pluribus Technologies Corp. announces new amendment to the forbearance agreement

Pluribus Technologies Corp.  announces new amendment to the forbearance agreement

TORONTO, June 19, 2024 /PRNewswire/ – Pluribus Technologies Corp. (TSXV: PLRB) (“Pluribus“or the”Business“) announces a new amendment (the “Amendment“) to the previously announced forbearance agreement (the “Forbearance agreement“) date January 18, 2024between the Company and the National Bank of Canada (THE “Lender“), relating to a guaranteed credit contract dated April 27, 2022, as amended, between the Company, certain of its subsidiaries and the Lender. Under the terms of the amendment, the lender agreed to extend the term of the forbearance agreement to July 15, 2024 to enable the Company to continue its previously announced strategic review process, which involves a review and evaluation of strategic alternatives that may be available to the Company to further enhance the growth, development and prosperity of the Company in the short term and in the long term, with the aim of maximizing shareholder value. Under the amendment, the Company provided a commitment to conclude a certain sales transaction no later than July 15, 2024.

The Company will provide an update when additional information is required or otherwise appropriate.

About Pluribus Technologies Corp.

Pluribus is a technology company that is a value-driven acquirer and operator of small, profitable business-to-business technology companies across a range of verticals and industries. Pluribus provides its acquisitions with access to experienced sales and marketing resources, strategic partnership opportunities, a diverse portfolio of customers across different geographic markets, and technologies to create new revenue streams and offer these businesses the opportunity to grow in their respective markets. When market conditions are conducive to raising capital at reasonable costs, Pluribus focuses on rapidly acquiring and integrating new acquisitions to accelerate growth. When the environment does not permit, Pluribus focuses on implementing strategies to maximize organic growth and increase cash flow from operations in its existing portfolio companies. For more information, please visit:

Forward-looking information

Certain information contained in this press release constitutes forward-looking statements under applicable securities laws. All statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Forward-looking information contained in this press release includes, without limitation, statements regarding whether the Lender will continue to forbear from exercising its rights and remedies upon the expiration of the forbearance agreement and what the conditions or timing of any such transaction or such continued forbearance may be, with the Company providing an update when additional information is required or otherwise appropriate, the Company’s business plans, including the consummation of acquisitions future prospects, the expectations of the Company’s management regarding the growth, profitability and performance of its portfolio companies, the Company’s ability to acquire business-to-business technology companies in the future, the Company’s ability to develop the companies of its portfolio and the Company to achieve a positive transaction following its strategic review process. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or negative expressions of these similar terms and expressions.

Forward-looking statements are based on certain assumptions, including the Company’s ability to effectively manage a complex portfolio of companies; And the Company’s ability to raise sufficient financing to pursue its acquisition strategy. Other assumptions include industry trends, availability of growth opportunities and general business, economic, competitive, political, regulatory and social uncertainties will not prevent the Company from conducting its business. Although the Company considers these assumptions to be reasonable based on currently available information, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and may prove to be incorrect. Forward-looking information relates only to these assumptions as of the date of this press release.

Readers are cautioned that the above is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations on which they are based will be realized. This information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. The purpose of forward-looking information is to provide the reader with a description of management’s expectations, and such forward-looking information may not be appropriate for other purposes. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.


Richard Adair
General manager
Pluribus Technologies Corp.
1 (800) 851-9383

SOURCE Pluribus Technologies Corp.