Purebase cancels 116M share option in US Mine pact, adopts $20/ton royalty

Purebase Corp

Cancelled US Mine's option to purchase up to 116,000,000 shares of common stock.
Replaced with production royalty of $20.00 per ton of kaolin clay for supplementary cementitious materials.
CEO A. Scott Dockter and director John Bremer are manager-members of US Mine; abstained from board approval.
Amendment dated November 1, 2023 to Materials Extraction Agreement originally dated May 27, 2021.

item 1.01 item 9.01

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 Materials Extraction Agreement with US Mine, LLC valued at $20.00 per ton (effective 2023-11-01).

Action: amendment
Counterparty: US Mine, LLC
Value: $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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Purebase Corp filing history →

Source: SEC EDGAR

accession 0001493152-23-039786

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