POMPANO, FL / ACCESSWIRE / August 22, 2022 / Basanite Inc., (OTCQB:BASA) ("Basanite" or the "Company"), a manufacturer of environmentally friendly, high-performance composite materials made from basalt fiber and basalt fiber reinforced polymer ("BFRP") for use by the construction industry, today announced that effective August 17, 2022, the Board of Directors appointed Lisa H. Gainsborg, CPA as Chief Financial Officer, Treasurer and Secretary of the Company.

"We are delighted to welcome Lisa to our company to lead our accounting and finance efforts," said Simon R. Kay, Basanite's President and CEO. "Lisa is a seasoned financial executive with significant experience in accounting, financial and compliance matters, in both private and public companies. Lisa will be a key player on our team as we work towards Basanite achieving its goals of becoming a major supplier of advanced technology composite products for the construction industry as well as a national exchange listed company."

"I am truly excited to join Basanite's management team," said Ms. Gainsborg. "Basanite's technologically innovative green and sustainable products, made in America, are the future of the construction industry. With a particular focus on SEC reporting and GAAP compliance, I am thrilled to have this opportunity to be part of Basanite and guiding its growth."

Ms. Gainsborg has extensive knowledge and experience in accounting and finance, with both public and private companies. Her background includes financial statement preparation, Securities and Exchange Commission reporting, Sarbanes-Oxley compliance, the creation of accounting and reporting controls and procedures, and experience with developing enterprise resource planning systems.

Since 2019, through her certified public accounting firms, Ms. Gainsborg has provided consulting services as a chief financial officer as well as tax preparation services for companies. From December 2014 through October 2019, Ms. Gainsborg was Vice President of Finance at Zero Gravity Solutions, Inc., a publicly reporting company, where she was responsible for preparing Securities and Exchange Commission filings and managing external audits. Ms. Gainsborg also managed, reviewed, and provided the documentation for tax returns for various federal and state filings. From August 2003 through November 2016, Ms. Gainsborg served as President of A+ Accounting Services, Inc., where she was responsible for managing, accounting, budgeting, and tax services for clients. She also provided chief financial officer consulting services and accounting system support for clients and prepared corporate, partnership, and individual tax returns.

Ms. Gainsborg is a Certified Public Accountant in Florida and Maryland. She received a Bachelor of Business Administration in Accounting from Hofstra University in 1989.

About Basanite

Basanite, Inc. (OTCQB:BASA), through its wholly owned subsidiary Basanite Industries, LLC, is a manufacturer and developer of environmentally friendly, high-performance composite products made from basalt fiber, used in the construction industry for concrete reinforcement. Superior to traditional steel elements, Basanite's sustainable products are non-corrosive, lighter, stronger and longer lasting. For more information, please visit www.BasaniteIndustries.com.

Cautionary Note Regarding Forward-Looking Statements

This release contains "forward-looking statements" which are based on Company management's current expectations and assumptions as of the date of this press release regarding the Company's business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "goal," "feel," "may," "plan," "will," "expect," "anticipate," "estimate," "intend," "potential" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this press release involve substantial risks and uncertainties that could cause future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. All forward-looking statements in this press release reflect Basanite's current analysis of existing trends and information and represent Basanite's judgment only as of the date of this press release. Actual results (including, without limitation, the anticipated benefits of the Company's new Chief Financial Officer as described herein) may differ materially from current expectations based on a number of factors, many of which are beyond the Company's control. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company (including the risk of the Company continuing as a going concern), please see the Company's Annual Report on Form 10-K for the year ended December 31, 2020, including but not limited to the discussion under "Risk Factors" therein, which was filed with the Securities and Exchange Commission on March 31, 2021, as well as the Company's other filings with the Securities and Exchange Commission, all of which may be viewed at http://www.sec.gov.

Contact

Simon R. Kay, President and CEO
Basanite, Inc.
Phone: +1 (954) 532-4653
Email: info@basaniteindustries.com

SOURCE: Basanite, Inc.