secwatch.observer — SEC 8-K summary
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Issuer:     Purebase Corp (PUBC)
CIK:        0001575858
Form:       8-K
Filed at:   2025-08-07T23:59:59+00:00
Accession:  0001641172-25-022465
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Purebase secures $500k secured loan with J.J. Astor; issues bonus shares, CEO provides confession of judgment
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- $500k loan from J.J. Astor & Co., secured by all assets and second deed of trust on 347-acre California property.
- Note: $650k principal ($150k OID), 40 weekly installments ($8,125 first 8, then $18,281.25), maturity May 5, 2026.
- Company issues 750k bonus shares; additional 750k if stock price < $0.50 after 90 days.
- CEO Scott Dockter executed Confession of Judgment in favor of lender.
- Note ranks senior to all debt; restrictions on incurring additional debt or granting liens without lender consent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1575858/000164117225022465/0001641172-25-022465-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1575858/000164117225022465/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-022465

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