secwatch.observer — SEC 8-K summary
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Issuer:     Purebase Corp (PUBC)
CIK:        0001575858
Form:       8-K
Filed at:   2022-04-14T23:59:59+00:00
Accession:  0001493152-22-009952
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1575858/000149315222009952/0001493152-22-009952-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1575858/000149315222009952/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-009952

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