---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-21-025312"
form_type: "8-K"
ticker: "PUBC"
cik: "0001575858"
company_name: "Purebase Corp"
filed_at: "2021-10-13T23:59:59+00:00"
generated_at: "2026-06-28T21:07:53.457217+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-21-025312
- form_type: 8-K
- ticker: PUBC
- cik: 0001575858
- company_name: Purebase Corp
- filed_at: 2021-10-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1575858/000149315221025312/0001493152-21-025312-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1575858/000149315221025312/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-21-025312
- JSON: https://secwatch.observer/filing/0001493152-21-025312.json
- Plain text: https://secwatch.observer/filing/0001493152-21-025312.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.