Purebase Corporation announces today that it has signed an agreement with Capstone Partners

Rhea-AI Summary

Purebase Corporation (OTCPK: PUBC) has secured a financing agreement with Capstone Partners for up to $120 million to build a new kaolin mineral production facility. The facility aims to produce metakaolin as a supplementary cementitious material for lower-carbon cement. Purebase CEO, Scott Dockter, is optimistic about the potential to produce up to one-million tons of finished product, aligning with the company's sustainability goals. Capstone Partners Managing Director, Raymond McCormick, emphasizes the project's timeliness and high demand in the cement industry for reducing carbon emissions.

Positive

• The financing agreement with Capstone Partners will enable Purebase to expand its production capacity and contribute to the development of sustainable construction materials, positioning the company as a key player in the lower-carbon cement market.

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• None.

IONE, CA, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Purebase Corporation (OTCPK: PUBC), (“Purebase”) announces today that it has signed an agreement with Capstone Partners to secure financing up to 120 million to fund the design, construction, and equipping of a new kaolin mineral production facility. This new facility will produce a metakaolin that is targeted for use as a supplementary cementitious material (SCM) for use in the production of lower-carbon cement.

Purebase CEO, Scott Dockter, stated “These funds will allow us, at the completion of this facility, to produce up to one-million tons of a finished product. This will be a great start towards our goal of becoming a sustainable and reliable manufacturer of SCM’s for many years to come.”

Capstone Partners Managing Director of Energy & Natural Resources, Raymond McCormick, added “We are thrilled to be involved in the fundraising effort with a project that comes at the right time, and that will garner widespread attention, for an extremely demanded product for the cement industry to assist in reducing carbon emissions.”

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.

FAQ

What is the purpose of the financing agreement between Purebase Corporation and Capstone Partners?

The financing agreement aims to fund the construction of a new kaolin mineral production facility to produce metakaolin, a supplementary cementitious material for lower-carbon cement.

How much funding has Purebase Corporation secured in the agreement with Capstone Partners?

Purebase Corporation has secured financing up to $120 million in the agreement with Capstone Partners.

What are the goals of Purebase Corporation in building the new production facility?

Purebase Corporation aims to become a sustainable and reliable manufacturer of supplementary cementitious materials for the cement industry, with a potential production capacity of up to one-million tons of finished product.

Why is the project considered timely and in high demand in the cement industry?

The project is deemed timely and in high demand due to the widespread attention for lower-carbon cement and the need to reduce carbon emissions in the industry.