UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 24, 2020 (September 18, 2020)
Basanite, Inc.
(Exact name of registrant as specified in its charter)
|
Nevada |
000-53574 |
20-4959207 |
|
(State or other jurisdiction
|
(Commission File Number) |
(I.R.S Employer
|
2041 NW 15thAvenue, Pompano Beach, Florida 33069
(Address of principal executive offices) (Zip Code)
855-232-3282
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12(b))
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: None
|
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer
On September 18, 2020, Gregory G. Nadeau submitted notice of his resignation as a member of the Board of Directors (the “Board”) of the Basanite, Inc, a Nevada corporation (the “Company”), effective September 21, 2020. Mr. Nadeau was a member of the Board’s Nominating and Corporate Governance Committee. Mr. Nadeau’s resignation was not as a result of any disagreement with the Company or any of its subsidiaries on any matters related to their operation, policies or practices. A copy of Mr. Nadeau’s resignation letter dated September 17, 2020 is attached hereto as Exhibit 17.1.
Item 9.01 – Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit |
|
|
|
No. |
|
Description |
|
|
|
|
|
17.1 |
|
Resignation letter of Gregory G. Nadeau dated September 17, 2020. |
|
|
|
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: September 24, 2020
|
|
BASANITE, INC. |
|
|
|
|
|
|
|
By: |
/s/ Simon R. Kay |
|
|
|
Simon R. Kay |
|
|
|
Interim Acting Chief Executive Officer |
|
|
|
|
EXHIBIT 17.1
Gregory G. Nadeau
1 Carrier Place
Lewiston, Maine 04240
September 17, 2020
Michael Barbera, Chairman, Basanite Inc. Board of Directors
Basanite Industries
2041 NW 15th Ave.
Pompano Beach, FL 33069
Dear Chairman Barbera:
Please accept my resignation as a member of the Basanite Inc. Board of Directors effective Monday, September 21, 2020.
It has been my pleasure to serve on the Board and I depart with full confidence in the current Board and your leadership. I also have full confidence in Interim Acting Chief Executive Officer Simon Kay and his management team. Significant progress has been made in positioning the company to engage in producing high quality product.
I leave the Board because my business simply demands more of my attention, but I am pleased that some of my work involves advancing the use of new age and more sustainable materials in our nation’s infrastructure. I am confident Basanite will succeed and grow to become an important contributor in meeting growing market demand.
Yours truly,
/s/ Gregory G. Nadeau
Gregory G. Nadeau
cc: Simon Kay, Interim Chief Executive Officer