Purebase Enters MOU with CoreTer for 20% Mining Proceeds
Purebase Corporation has entered into a binding Memorandum of Understanding (MOU) with CoreTer LLC, which is owned and managed by Purebase's CEO, A. Scott Dockter. Under the MOU, Purebase will receive 20% of the net proceeds from CoreTer's mining agreement with Dexter Mining LLC. In exchange, Purebase waived any claim to corporate opportunities related to this agreement or similar deals. The arrangement is intended to support Purebase's transition into a diversified Resource Development Company, but the right to proceeds is subject to termination under specific conditions, including a change of control at Purebase or Mr. Dockter's removal. The MOU is also contingent on a definitive asset transfer agreement.
Key Highlights
- Purebase Corporation entered a binding Memorandum of Understanding (MOU) with CoreTer LLC on May 26, 2026.
- Purebase will receive 20% of the net proceeds from CoreTer's Exclusive Mining Option and Development Agreement with Dexter Mining LLC.
- CoreTer LLC is owned and managed by Purebase's Chief Executive Officer, A. Scott Dockter.
- Purebase waived any claim to corporate opportunities related to the mining agreement or similar deals.
- Purebase's right to proceeds may terminate upon a change of control, Mr. Dockter's removal, or failure to release escrowed shares.
- The MOU is subject to the parties entering into a definitive asset transfer agreement.
Price Impact
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