Purebase Corp

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.

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.

Purebase Corporation (PUBC) has filed its Form 10-Q for the quarterly period that concluded on February 28, 2026. The filing confirms the company's status as both a non-accelerated filer and a smaller reporting company. As of April 14, 2026, Purebase Corporation reported a total of 277,968,151 shares of common stock outstanding.