Corporate ActionMay 12, 2026, 03:32 PM
Purebase Issues 72.8M Shares to CEO-Owned CoreTer for $1.47M
AI Summary
Purebase Corporation issued a total of 72,837,839 shares of its common stock to CoreTer, LLC on May 8, 2026. This included 50,311,184 shares for the conversion of a $1,013,870.97 convertible promissory note and 22,526,655 shares to reimburse approximately $453,957 in operating expenses paid by CoreTer. CoreTer, LLC is owned and managed by A. Scott Dockter, the company's Chief Executive Officer. The shares were issued as an unregistered private offering.
Key Highlights
- Purebase issued a total of 72,837,839 shares of common stock to CoreTer, LLC.
- 50,311,184 shares were issued for the conversion of a $1,013,870.97 convertible promissory note.
- An additional 22,526,655 shares were issued to reimburse $453,957 in operating expenses.
- CoreTer, LLC is owned and managed by A. Scott Dockter, Purebase's Chief Executive Officer.
- The total value of shares issued for debt conversion and expenses was approximately $1,467,827.97.
- The share issuance was exempt from registration under Section 4(a)(2) of the Securities Act.
Price Impact
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