PureBase Corporation (PUBC) has released an update.
Purebase Corporation has converted all amounts due under specific convertible notes into shares of common stock, amounting to 8,877,923 shares, for U.S. Mine Corp., an affiliate company. This debt conversion covers both principal and accrued interest, effectively settling the company’s obligations and cancelling the notes. Notably, key figures in Purebase Corporation are also associated with U.S. Mine Corp., including the CEO, directors, and shareholders. The share issuance is non-public and complies with SEC regulations.
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