secwatch.observer — SEC 8-K summary
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Issuer:     Purebase Corp (PUBC)
CIK:        0001575858
Form:       8-K
Filed at:   2021-10-13T23:59:59+00:00
Accession:  0001493152-21-025312
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1575858/000149315221025312/0001493152-21-025312-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1575858/000149315221025312/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-025312

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer