IONE, CA, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Purebase Corporation (OTCPK: PUBC), (“Purebase”) Purebase Corporation entered a Second Amendment to the Materials Extraction Agreement (“Agreement”) on November 1, 2023 with US Mine, LLC (“US Mine”), which Agreement provides for US Mine to provide kaolin clay for Purebase’s planned production of metakaolin to be used as supplementary cementitious material (SCM).
The Amendment provides, among other things, for the cancellation of US Mine’s option to purchase up to 116,000,000 shares of the Company’s common stock and in lieu thereof the Company will pay US Mine a monthly production royalty of $20.00 per ton of kaolin clay extracted from property owned by US Mine.
Purebase Corporation CEO, Scott Dockter, stated “this amended agreement is all about sustainability for Purebase. We will have decades of resources available to help reduce the carbon emissions that occur during the manufacturing of cement. One of the biggest concerns we’ve heard from the cement industry is that the materials to make a lower carbon cement can be in short supply. I believe this agreement will help alleviate those concerns.”
About Purebase Corporation
Purebase Corporation (OTCPK:PUBC) is a diversified resource company that acquires, develops, and markets minerals for use in agriculture, construction, and other specialty industries.
Safe Harbor
This press release contains statements, which may constitute “forward-looking statements”. Those statements include statements regarding the intent, belief, or current plans or expectations of Purebase Corporation and members of its management team as well as the assumptions on which such statements are based. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. Risks and other important factors concerning Purebase’s business are described in the Company’s Annual Report on Form 10-K for the year ended November 30, 2022, and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to update its forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contacts
Emily Tirapelle - Purebase Corporation | emily.tirapelle@purebase.com.
