Worksport Announces US$1.6MM Order for Its Hard-Folding Covers in Anticipation of Production Start, Solidifying Growth in Tonneau Cover Market
July 25 2023 - 8:00AM
Worksport Ltd. (Nasdaq: WKSP; WKSPW) ("Worksport" or the "Company")
is thrilled to announce a substantial US$1,600,000 purchase order
for its advanced hard-folding tonneau covers. This significant
order follows closely on the heels of the Company's recently
reported US$720,000 purchase orders for its innovative soft-folding
tonneau covers. Production of the hard-folding covers is scheduled
to kick off in a mere two weeks, adding to the Company’s already
soaring momentum.
"Our commitment to quality and innovation has
once again been validated by this new and substantial order,"
commented Worksport CEO Steven Rossi. "Following the successful
rollout of our soft-folding covers, we're poised to further elevate
our position in the market with our hard-folding line. The
anticipation surrounding this product launch has been
palpable."
Building upon the success of previous weeks, the
Company's 222,000 sq. ft. Western NY manufacturing facility has
been operating at an exceptional pace, ensuring timely shipments of
the soft-folding tonneau covers. This facility will now be crucial
in ensuring the successful rollout of the hard-folding covers.
Mr. Rossi added, "The dual success of both these
product lines and the increasing orders speaks volumes about our
strategic direction and the market's growing trust in Worksport.
With the hard-folding covers' production on the horizon, our
dedicated team is more focused than ever on optimizing efficiency
and magnifying our revenue growth."
For further information, please visit Worksport’s official
website for investors at investors.worksport.com.
About Worksport Ltd.Worksport
Ltd. (Nasdaq: WKSP; WKSPW), through its subsidiaries, designs,
develops, manufactures, and owns the IP on a variety of tonneau
covers, solar integrations, and NP (Non-Parasitic), Hydrogen-based
true green energy solutions for the sustainable, clean energy, and
automotive industries. Worksport Ltd. seeks to capitalize
on the growing shift of consumer mindsets towards clean energy
integrations with its proprietary solar solutions, mobile energy
storage systems (ESS), and NP (Non-Parasitic), Hydrogen-based
technology. For more information, please
visit investors.worksport.com
Connect
with Worksport:
Please follow the company’s social media accounts on Twitter, Facebook, Linkedin, YouTube, and Instagram,
as well as sign up for the company’s newsletters at
investors.worksport.com. Worksport Ltd. strives to
provide frequent updates of its operations to its community of
investors, clients, and customers to maintain the highest level of
visibility.
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For additional information, please
contact:Steven ObadiahInvestor RelationsWorksport
Ltd.T: 1 (888) 554 8789
E: investors@worksport.com
W: www.worksport.com
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The information contained herein may contain
"forward‐looking statements." Forward‐looking statements reflect
the current view about future events. When used in this press
release, the words "anticipate," "believe," "estimate," "expect,"
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anticipated events and trends, the economy and other future
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changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: supply chain delays,
acceptance of our products by consumers, delays in or nonacceptance
by third parties to sell our products, competition from other
producers of similar products. More detailed information about
the Company and the risk factors that may affect the realization of
forward-looking statements is set forth in the Company’s filings
with the Securities and Exchange Commission (SEC),
including our Annual Report on Form 10-K and our Quarterly Reports
on Form 10-Q. Investors and security holders are urged to read
these documents free of charge on the SEC’s web site
at www.sec.gov. As a result of these matters, changes in
facts, assumptions not being realized or other circumstances, the
Company's actual results may differ materially from the expected
results discussed in the forward-looking statements contained in
this press release. The forward-looking statements made in this
press release are made only as of the date of this press release,
and the Company undertakes no obligation to update them to reflect
subsequent events or circumstances.
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