PUBC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-04-15

• We are a natural resources company that provides solutions to the agriculture markets in the United States, through our two subsidiaries, Purebase AG, and Purebase AM. Until June 2025, we utilized the services of US Mine Corporation (“USMC”), a Nevada corporation and a significant shareholder of the…

• We develop specialized sun protectants. We have developed and will seek to develop additional products derived from mineralized materials of kaolin clay.

• We had been developing and testing a kaolin-based product that we believed would help create a lower CO2-emitting concrete through the use of high-quality supplementary cementitious materials (“SCMs”). However, in 2025 we decided to no longer develop and pursue the SCM market as we believe that we c…

• On February 27, 2026 we secured a $1,000,000 convertible line of credit from CoreTer LLC Nevada limited liability company (“CoreTer”), which engages in mining exploration activities and the commercialization of natural resources and which is owned and operated by A. Scott Dockter, our chief executiv…

• Comparison of the Three Months Ended February 28, 2026 to the Three Months Ended February 28, 2025

Text removed vs the prior filing · source: 10-Q · 2025-10-15

• We are an industrial mineral and natural resource company that provides solutions to the agriculture and construction materials markets in the United States, through our two subsidiaries, Purebase AG, and Purebase AM, respectively. The Company has not yet commenced mining operations and relies on US…

• We obtain certain raw clay materials from USMC through a materials extraction agreement with US Mine LLC. US Mine LLC owns the mining property which USMC leases. USMC pays US Mine LLC a royalty, for which the Company reimburses USMC.

• We develop specialized fertilizers, sun protectants, soil amendments and bio-stimulants for organic and non-organic sustainable agriculture. We have developed and will seek to develop additional products derived from mineralized materials of leonardite, kaolin clay, laterite, and other natural miner…

• We had been developing and testing a kaolin-based product that we believed would help create a lower CO2-emitting concrete through the use of high-quality supplementary cementitious materials (“SCMs”). We were developing SCMs for the construction material markets, particularly the cement markets tha…

• We decided that we will no longer develop and pursue the SCM market. We have has decided to instead further develop and expand our presence in the agricultural sector, as we believe that we can achieve higher margins in that sector and that construction of an SCM plant would take approximately two y…

Text added vs the prior filing · source: 10-Q · 2026-04-15

• Our business faces many risks, a number of which are described under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended November 30, 2025 filed with the SEC on March 18, 2026. Other than as set forth below, there have been no material changes from the risk factors previo…

• There may exist conflicts as a result of our chief executive officer’s ownership and management of CoreTer.

• A. Scott Docker, our Chief Executive Officer and director, is also the owner and managing member of CoreTer, which is in a similar industry as our company. As such, at times there may be conflicts of interest between CoreTer and our company, including time devoted by Mr. Dockter to the needs of Core…

Text removed vs the prior filing · source: 10-Q · 2025-10-15

• As a smaller reporting company, we are not required to provide the information required by this Item.