Purebase converts $2.5M debt into 23.7M shares and opens new $1M convertible note facility

Purebase Corp

All six outstanding convertible notes held by affiliate USMC were converted into 23,741,654 common shares on April 7, 2022.
New Securities Purchase Agreement with USMC allows up to $1M in additional 5% convertible notes at $0.39/share, two-year maturity.
Maturity dates for three existing notes (totaling $178,000) extended to April 30, 2022, and defaults waived.
Snow White Mine purchase deadline extended to April 1, 2023, under amendment with Bremer Family Trust.
CEO Scott Dockter and director John Bremer are officers/directors of USMC and the Trust, indicating related-party transactions.

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