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Purebase Corporation Enters into Securities Purchase Agreement
PUBC
Debt Issuance
- Purebase Corporation entered into a securities purchase agreement with Vanquish Funding Group Inc. on September 24, 2025, for a promissory note with a principal amount of $123,050.00, which includes an Original Issue Discount of $16,050.00.
- From this transaction, Purebase Corporation received $100,000 after accounting for legal fees of $2,500 and a due diligence fee of $4,500.
- The note bears a one-time interest charge of 12% on the principal, totaling $14,766.00, and has a maturity date of July 30, 2026.
- Repayment is structured in five monthly payments, with $68,908.00 due on March 30, 2026, followed by four payments of $17,227.00 each on April 30, 2026, May 30, 2026, June 30, 2026, and July 30, 2026, for a total payback of $137,816.00.
- In the event of default, the note is convertible into shares of common stock at a 35% discount to the share price.
Oct 14, 2025, 4:25 PM
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