Purebase cancels $50M convertible note, grants US Mine option to buy 116M shares at $0.38/share

Purebase Corp

Cancelled $50M convertible promissory note issued to US Mine for metakaolin mining rights.
Issued option to US Mine to purchase 116M common shares at $0.38/exercise price (closing price on Oct 6, 2021).
Option vests: 58M shares on Apr 6, 2022; 29M shares on Oct 6, 2022; 29M shares on Apr 6, 2023; expires Apr 6, 2028.
Related-party: CEO A. Scott Dockter and director John Bremer are manager-members of US Mine; they abstained from board vote.

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