{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-014578","form_type":"8-K","ticker":"PUBC","cik":"0001575858","company_name":"Purebase Corp","filed_at":"2024-04-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:19.042350+00:00","generated_at":"2026-06-03T22:54:58.508819+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Purebase enters $1M line of credit with affiliate, issues $618K note to settle arbitration","bullets":["Line of credit with affiliate U.S. Mine Corp. for up to $1M, 8% interest, convertible at $0.08/share, due March 2025; $198,135 drawn.","Issued $618K convertible note to same affiliate for arbitration settlement; $309K funded, balance due by July 2024.","Converted $1M 2023 Grid Note into 10,256,400 shares, extinguishing principal and accrued interest.","Related-party transactions approved by board with two directors abstaining."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-014578","json":"https://secwatch.observer/filing/0001493152-24-014578.json","markdown":"https://secwatch.observer/filing/0001493152-24-014578.md","text":"https://secwatch.observer/filing/0001493152-24-014578.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1575858/000149315224014578/0001493152-24-014578-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1575858/000149315224014578/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T22:54:58.508819+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1c68939788fbd0c733d3843234764aac408b948f","claim":"Purebase Corp incurred convertible notes of up to $618,000 with U.S. Mine Corp. at 8% per annum maturing February 7, 2026.","evidence_excerpt":"Reference is made to the disclosure set forth under Item 1.01 above, which disclosure is incorporated herein by reference. On February 8, 2024 (the “Issuance Date”), the Company issued USMC an 8% unsecured convertible promissory note in the principal amount of up to $618,000 (the “Convertible Note”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1575858/000149315224014578/0001493152-24-014578-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"up to $618,000"},{"label":"Counterparty","value":"U.S. Mine Corp."},{"label":"Rate","value":"8% per annum"},{"label":"Maturity","value":"February 7, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"6f8a29ce2ccd27f987b4d1e48aa4e6392998b82b","claim":"Purebase Corp entered into Line of Credit Agreement with U.S. Mine Corp. valued at $1,000,000 (effective 2024-03-07).","evidence_excerpt":"On March 7, 2024 (the “Effective Date”), Purebase Corporation, a Nevada corporation (the “Company”), entered into a line of credit agreement (the “Line of Credit Agreement”) with U.S. Mine Corp., a Nevada corporation and affiliate of the Company (“USMC”), pursuant to which USMC made a line of credit available to the Company, for a period of one year commencing on the Effective Date, in the maximum principal amount of $1,000,000 (the “2024 Line of Credit”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1575858/000149315224014578/0001493152-24-014578-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"U.S. Mine Corp."},{"label":"Value","value":"$1,000,000"},{"label":"Effective","value":"2024-03-07"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}