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Wednesday, November 30, 2022

The Fascinating Rise of BasaFlex; Basanite Inc (OTCMKTS: BASA)

Basanite Inc (OTCMKTS: BASA) has been running northbound in recent weeks attracting legions of shareholders and emerging as a volume leader in small caps. Trading as low as a dime in March BASA has transformed into a mover and shaker in small caps with recent highs near $0.70.

BASA is under heavy accumulation as the Company markets its enhanced Basalt Rebar; BasaFlex™, engineered to add intrinsic value in a concrete structure, and as a sustainable, non-corrosive alternative to conventional steel reinforcement. Basanite was awarded a $50 Million+ Five-Year Exclusive Supplier Agreement with MEP® Consulting Engineers, Inc in July.

Basanite Inc (OTCMKTS: BASA) is the proud manufacturer of BasaFlex™, an enhanced Basalt Rebar, engineered to add intrinsic value in a concrete structure, and as a sustainable, non-corrosive alternative to conventional steel reinforcement. BasaFlex™ BFRP Rebar Benefits are: Stronger and significantly lighter than steel. Reduced costs for handling and placing. 100% Corrosion Resistant – literally Rust Proof! Eliminate ongoing costs for maintenance & repair. Sustainable and Eco-Friendly 100+ year product. Similar thermal expansion coefficient as concrete; an excellent choice in freeze/thaw environments. Chemical, alkali and UV resistant. Optimal for use in harsh applications. Non-conductive, non-magnetic, no RF interference

Basanite is headquartered in Pompano Beach, Florida where the Company operates a 36,900 square foot facility. As of March 18, 2020, the Company received final approvals from the City of Pompano Beach and is fully operational. Testing and process validations began immediately thereafter.  The facility has the capacity to produce 15,000 to 22,000 linear feet of basalt rebar per line, per day, depending on the product mix. Basanite has begun the process to expand its current operational capacity and expects to be fully staffed for full single shift operations by mid-August. Because of strong market demand indications, the company is planning for two-shift operations prior to the end of 2020. Further, with impending major orders led by MEP®, Basanite is working towards a significant plant capacity expansion for early in 2021.

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BASA

On July 27 basinite announced it was awarded a $50 Million+ Five-Year Exclusive Supplier Agreement with MEP® Consulting Engineers, Inc. Under the terms of the five-year agreement, MEP® (a member of the US Green Building Council) will exclusively utilize Basanite to manufacture and supply BFRP Rebar products, including Basanite’s BasaFlex™ and other proprietary products. Basanite will also exclusively manufacture Hurricane Bar®, an MEP®-designed BFRP Rebar product, designed and engineered specifically for structural applications. Additionally, Basanite and MEP® will work together to design, develop and certify advanced, solutions based BFRP products for the construction industry during the term of the agreement.

“We have worked really hard to get to this point – our first truly significant supply agreement” said Simon R. Kay, Acting Interim President and CEO of Basanite. “MEP® is a great company with an excellent brand name and a top-level team. MEP® is also an industry leader in promoting the use of sustainable composite products, especially Basalt fiber products, in the engineering and construction industry. We believe this agreement is key to unlocking Basanite’s growth potential in all the markets we serve and should allow us to begin to accelerate the construction industry’s move towards BFRP products as we become fully operational.”

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Currently running northbound in a hurry BASA is an exciting Company in small caps; the Company markets its enhanced Basalt Rebar; BasaFlex™, engineered to add intrinsic value in a concrete structure, and as a sustainable, non-corrosive alternative to conventional steel reinforcement. Basanite was awarded a $50 Million+ Five-Year Exclusive Supplier Agreement with MEP® Consulting Engineers, Inc in July. BASA operates a 36,900 square foot facility in Pompano Beach Florida which has begun the process to expand its current operational capacity and expects to be fully staffed for full single shift operations by mid-August. Because of strong market demand indications, the company is planning for two-shift operations prior to the end of 2020. Further, with impending major orders led by MEP®, Basanite is working towards a significant plant capacity expansion for early in 2021. We will be updating on BASA on a daily basis so make sure you are subscribed to microcapdaily.com so you know what is going on with BASA.

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Disclosure: we hold no position in BASA either long or short and we have not been compensated for this article.

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