Purebase amends extraction deal with US Mine; cancels 116M share option, adopts $20/ton royalty

Purebase Corp

Cancels US Mine's option to purchase up to 116,000,000 shares of Purebase common stock.
Replaces option with a production royalty of $20.00 per ton of metakaolin extracted.
CEO A. Scott Dockter and director John Bremer have ownership interest in US Mine; board approved with abstentions.
Amendment effective November 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Purebase Corp amended Second Amendment with US Mine, LLC valued at production royalty of $20.00 per ton (effective 2023-11-01).

Action: amendment
Counterparty: US Mine, LLC
Value: production royalty of $20.00 per ton
Effective: 2023-11-01

Exact text from the filing

On November 1, 2023, Purebase Corporation (the “Company”) entered into a Second Amendment (the “Amendment”) to the Materials Extraction Agreement with US Mine, LLC (“US Mine”), dated May 27, 2021, as amended on October 6, 2021, and further amended on June 17, 2022

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Source: SEC EDGAR

accession 0001493152-23-039721

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