StreetInsider.com News Articles

Basanite signs term sheet for $2M Somaliland gold project stake

Tue, 30 Jun 2026 06:50:29 -0400

Basanite Inc. (OTCQB: BASA) has signed a term sheet with Eastman Minerals and Somali American Minerals Company (SAMCO) for a proposed $2 million investment in the Goroya Cawl Processing Plant, a gold processing facility located in Somaliland.

Under the proposed terms, Basanite would acquire a 40% ownership interest in the plant, with Eastman Minerals retaining a 60% interest and operational control. SAMCO has advanced a $400,000 bridge deposit on Basanite's behalf, with the remaining $1.6 million to be funded under definitive agreements. Basanite said it intends to close the transaction within approximately 30 days, though it noted there is no assurance

BASANITE INC. SIGNS TERM SHEET WITH EASTMAN MINERALS FOR PROPOSED $2 MILLION INVESTMENT IN SOMALILAND GOLD PROCESSING PROJECT

Tue, 30 Jun 2026 06:50:00 -0400

The Somali American Minerals Company Advances $400,000 Bridge Deposit; Company Targets Closing Within 30 Days

NEW HAVEN, Conn., June 30, 2026 /PRNewswire/ -- Basanite Inc. (OTCQB: BASA) ("Basanite" or the "Company") today announced that it has executed a term sheet with Eastman Minerals and the Somali American Minerals Company, LLC, ("SAMCO") outlining the framework for a proposed $2.0 million investment in the Goroya Cawl Processing Plant ("Plant 1"), a gold processing project located in Somaliland.

Under the terms of the term sheet, Basanite will invest an aggregate of $2,000,000 into a joint

BASANITE INC. SIGNS TERM SHEET WITH EASTMAN MINERALS FOR PROPOSED $2 MILLION INVESTMENT IN SOMALILAND GOLD PROCESSING PROJECT

Tue, 30 Jun 2026 06:50:00 -0400

The Somali American Minerals Company Advances $400,000 Bridge Deposit; Company Targets Closing Within 30 Days

Under the terms of the term sheet, Basanite will invest an aggregate of $2,000,000 into a joint

BASANITE INC. SIGNS TERM SHEET WITH EASTMAN MINERALS FOR PROPOSED $2 MILLION INVESTMENT IN SOMALILAND GOLD PROCESSING PROJECT

Tue, 30 Jun 2026 06:50:00 -0400

The Somali American Minerals Company Advances $400,000 Bridge Deposit; Company Targets Closing Within 30 Days

Under the terms of the term sheet, Basanite will invest an aggregate of $2,000,000 into a joint

BASANITE INC. SIGNS TERM SHEET WITH EASTMAN MINERALS FOR PROPOSED $2 MILLION INVESTMENT IN SOMALILAND GOLD PROCESSING PROJECT

Tue, 30 Jun 2026 06:50:00 -0400

The Somali American Minerals Company Advances $400,000 Bridge Deposit; Company Targets Closing Within 30 Days

Under the terms of the term sheet, Basanite will invest an aggregate of $2,000,000 into a joint

Form 15-12G BASANITE, INC.

Thu, 25 Jun 2026 16:40:00 -0400

si-local-file:///var/storage/secattach/20260625/26692973.html

Form 15-12G BASANITE, INC.

Thu, 25 Jun 2026 16:40:00 -0400

si-local-file:///var/storage/secattach/20260625/26692973.html

Form 8-K BASANITE, INC. For: Jun 02

Fri, 05 Jun 2026 16:48:00 -0400

si-local-file:///var/storage/secattach/20260605/26611878.html

Form 8-K BASANITE, INC. For: Jun 02

Fri, 05 Jun 2026 16:48:00 -0400

si-local-file:///var/storage/secattach/20260605/26611878.html

Form NT 10-K BASANITE, INC. For: Dec 31

Tue, 31 Mar 2026 16:05:00 -0400

si-local-file:///var/storage/secattach/20260331/26250698.html

Form NT 10-K BASANITE, INC. For: Dec 31

Tue, 31 Mar 2026 16:05:00 -0400

si-local-file:///var/storage/secattach/20260331/26250698.html

Form 10-Q BASANITE, INC. For: Sep 30

Tue, 25 Nov 2025 16:06:00 -0400

si-local-file:///var/storage/secattach/20251125/25663173.html

Form 10-Q BASANITE, INC. For: Sep 30

Tue, 25 Nov 2025 16:06:00 -0400

si-local-file:///var/storage/secattach/20251125/25663173.html

Form NT 10-Q BASANITE, INC. For: Sep 30

Mon, 17 Nov 2025 11:28:00 -0400

si-local-file:///var/storage/secattach/20251117/25623852.html

Form NT 10-Q BASANITE, INC. For: Sep 30

Mon, 17 Nov 2025 11:28:00 -0400

si-local-file:///var/storage/secattach/20251117/25623852.html

Form 8-K BASANITE, INC. For: Oct 15

Thu, 16 Oct 2025 16:23:00 -0400

si-local-file:///var/storage/secattach/20251016/25466749.html

Form 8-K BASANITE, INC. For: Oct 15

Thu, 16 Oct 2025 16:23:00 -0400

si-local-file:///var/storage/secattach/20251016/25466749.html

Basanite Industries, Inc. Provides Corporate Update