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Basanite, Inc. Issues Correction to Press Release regarding OTCBQ Up-Listing

POMPANO BEACH, Fla., Aug. 14, 2019 (GLOBE NEWSWIRE) -- Basanite, Inc. (OTC MARKETS: BASA) today announced a correction to its press release issued on August 8, 2019 regarding its up-listing to the OTCQB® Venture Market.  The company inadvertently believed it had completed all requirements to accomplish the up-listing.  While the company has filed the OTCQB application with OTC Markets and believes it is in the final stages of approval, it has not yet been up-listed to the OTCQB® Venture Market.  The company believes the formal up-listing will occur next week and will issue an additional press release at such time.

Basanite, Inc., through its wholly-owned subsidiary Basanite Industries, LLC, manufactures BasaFlex an enhanced basalt rebar, engineered to add intrinsic value in a concrete structure by eliminating corrosion problems often associated with intervening products or elements, or naturally caused by the steel reinforcement itself.  The company is working to position itself as the recognized leader in the engineered composite rebar market for the concrete industry.

For Investor Relations: Richard Krolewski, CEO, (954) 532-4653, ext. 101