secwatch.observer — SEC 8-K summary
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Issuer:     Purebase Corp (PUBC)
CIK:        0001575858
Form:       8-K
Filed at:   2025-10-14T23:59:59+00:00
Accession:  0001493152-25-017965
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Purebase issues $123K convertible promissory note to Vanquish Funding, netting $100K
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- Principal amount $123,050 includes $16,050 original issue discount; net proceeds $100,000 after fees.
- Note bears 12% interest (22% if not timely paid); matures July 30, 2026.
- On default, convertible into common stock at 35% discount to share price, subject to 4.99% beneficial ownership cap.
- Repayment schedule: $68,908 due Mar 30, 2026, then $17,227 monthly through July 30, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1575858/000149315225017965/0001493152-25-017965-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1575858/000149315225017965/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-017965

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer