secwatch.observer — SEC 8-K summary
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Issuer:     Purebase Corp (PUBC)
CIK:        0001575858
Form:       8-K
Filed at:   2024-04-15T23:59:59+00:00
Accession:  0001493152-24-014578
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Purebase enters $1M line of credit with affiliate, issues $618K note to settle arbitration
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1575858/000149315224014578/0001493152-24-014578-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1575858/000149315224014578/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-014578

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