Basanite raises $600,000 in private placement of units at $0.33/unit; up to $5M total

BASANITE, INC.

Initial closings on Jan 28 and Feb 3, 2022 raised $600,000 through sale of 1,818,182 units.
Each unit consists of one common share, one 5-year Warrant A ($0.33 exercise) and one 5-year Warrant B ($0.33, callable if stock ≥$1 for 5 days).
Net proceeds to fund deposits on five pultrusion machines and for general working capital.
Offering is best-efforts with up to $5,000,000 total; additional closings expected over ~60 days.
Investors include affiliates of strategic commercial partner U.S. Supplies, Inc. and director Manuel Rodriguez.

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