PureBase Corp Reports Unregistered Equity Sales on Jan 31

TL;DR

**PureBase just sold new shares privately on Jan 31, likely diluting existing stock.**

AI Summary

PureBase Corp filed an 8-K on February 15, 2024, reporting unregistered sales of equity securities that occurred on January 31, 2024. The filing, under Item 3.02, indicates the Nevada-incorporated company engaged in these sales pursuant to the Securities Exchange Act of 1934. No specific dollar amounts or number of shares sold were detailed in this excerpt of the filing.

Why It Matters

Unregistered equity sales can dilute existing shareholders by increasing the total number of outstanding shares without a public offering, potentially impacting stock value and investor confidence. This method of capital raising often lacks the full transparency of registered offerings.

Risk Assessment

Risk Level: medium — Unregistered equity sales can lead to dilution for current shareholders and may signal a need for capital that couldn't be raised through traditional public offerings, increasing investment risk.

Key Numbers

• N/A — Unregistered Sales Amount (Specific dollar amounts or share counts for the unregistered sales were not provided in this filing excerpt.)

Key Players & Entities

• PureBase Corp (company) — registrant
• Port of Call Online Inc. (company) — former company name
• January 31, 2024 (date) — date of earliest event reported
• February 15, 2024 (date) — filing date
• Nevada (location) — state of incorporation

FAQ

Key Financial Figures

• $1,525,676 — C, in the aggregate principal amount of $1,525,676.42, with accrued and unpaid interest in
• $87,210 — aid interest in the aggregate amount of $87,210.83, as follows: USMC converted 5% uns
• $0.39 — "2022 Notes"), at a conversion price of $0.39 per share, with fractional shares being
• $470,861 — st 30, 2022, in the principal amount of $470,861.70, with accrued and unpaid interest in
• $33,476 — ed and unpaid interest in the amount of $33,476.34, was converted into a total of 1,293
• $140,027 — er 29, 2022, in the principal amount of $140,027.17, with accrued and unpaid interest in
• $8,209 — ed and unpaid interest in the amount of $8,209.82, was converted into a total of 380,0
• $308,319 — ry 28, 2023, in the principal amount of $308,319.71, with accrued and unpaid interest in
• $14,233 — ed and unpaid interest in the amount of $14,233.38, was converted into a total of 827,0
• $0.10 — tible Notes"), at a conversion price of $0.10 per share, with fractional shares being
• $412,532 — ay 31, 2023, in the principal amount of $412,532.97, with accrued and unpaid interest in
• $22,152 — ed and unpaid interest in the amount of $22,152.45, was converted into a total of 4,346
• $193,934 — ne 30, 2023, in the principal amount of $193,934.87, with accrued and unpaid interest in
• $9,138 — ed and unpaid interest in the amount of $9,138.84, was converted into a total of 2,030

Filing Documents

• form8-k.htm (8-K) — 38KB
• 0001493152-24-006899.txt ( ) — 200KB
• pubc-20240131.xsd (EX-101.SCH) — 3KB
• pubc-20240131_lab.xml (EX-101.LAB) — 33KB
• pubc-20240131_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. PUREBASE CORPORATION Dated: February 15, 2024 By: /s/ A. Scott Dockter A. Scott Dockter Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR