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Purebase Corporation (OTCMKTS:PUBC) Stock Falls Despite Announcing Strategic Partnership Agreement

Purebase Corporation (OTCMKTS:PUBC) fell 10% after announcing a strategic partnership agreement with a big international vertically integrated materials firm to introduce its latest environmentally friendly supplementary cementitious material (SCM). SCM is a high-performance solution that may be used to replace cement while also reducing the amount of CO2 produced during the calcination of limestone.

Market Stats

On Tuesday, PUBC stock moved down 10% to $0.4502 with more than 10.5K shares, compared to its average volume of 26.58K shares. The stock moved within a range of $0.4502 – 0.5700 after opening trading at $0.57.

Purebase Announces Strategic Partnership to Develop New SCM Market in California

The two firms recently entered a Memorandum of Understanding outlining the main terms of their collaboration, in which they pledge to collaborate to bring Purebase’s innovative carbon-reducing SCM compositions to market in California.

They will specifically test SCM material for mixing with Type II/V cementitious materials at Purebase’s test manufacturing unit in Ione, California. Before the construction and functioning of a bigger phase II facility, this phase I test will enable for the compilation of sales reports and product details required for various materials certifications (especially Caltrans certification). Following this partnership, investors should watch PUBC in the coming days.

Key Quote

“We believe our new SCM blends represent the next generation of environmentally responsible cement and building products” said Scott Dockter, Chairman and CEO of Purebase. “This partnership represents a major leap forward for our company to have one of the biggest companies in the building materials sector partner with us in bringing our products forward.”

Traders Corner

PUBC stock is trading above the 50-Day and 200-Day Moving averages of $0.4013 and $0.3411 respectively. The stock is trading in the neutral zone with RSI stands at 46.

Published by Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.

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