Worksport Ltd.
(Nasdaq: WKSP;
WKSPW) (“Worksport” or the “Company”) is pleased to
announce that it has received interest from a leading Canada-based
automotive aftermarket reseller for the Company’s hard-folding
tonneau covers. The Company has already sent product samples to
this reseller as well. The potential customer has an impressive
annual sales volume surpassing $10 billion CAD. As it would be a
private-label customer, the Company cannot disclose its name at
this time.
This interest comes on the heels of executing a
$16 million USD annual sales agreement for its hard-folding and
soft-folding covers with a leading U.S. aftermarket reseller
earlier this year. Worksport is once again diligently working to
grow and increase its revenues.
Management believes that entering into yet
another potential collaboration signals the robust demand and
confidence in Worksport's cutting-edge truck bed covers. This
development further fortifies the Company's position in the
aftermarket space and underscores its growth trajectory.
This year and next year will see Worksport
branching out into the cleantech sector with its highly anticipated
SOLIS Solar Cover, coupled with its COR Battery System. This
game-changing combination serves dual purposes: providing
additional driving range for electric pickup trucks of partnering
OEM brands and furnishing off-grid power in remote locations to
most pickup trucks.
Several major automotive manufacturers have
expressed a keen interest in Worksport’s innovative solutions, with
a notable partnership already announced with Hyundai.
While Worksport's U.S. factory is taking steps
to meet the high demand, it is simultaneously preparing for the
launch of the SOLIS Solar Cover with COR Battery System. The
Company expects to update investors soon on its progress.
Steven Rossi, CEO of Worksport, is brimming with
enthusiasm for what the future holds. "After recently announcing
the $16 million sales agreement, the fact that another top-tier
aftermarket reseller has shown interest in our products just
further illustrates the trust and interest in our brand. While
there's much ground to cover, these developments act as tremendous
motivators. We're more committed than ever to amplify our factory
capabilities and present unyielding value to our investors," Rossi
remarked.
For further information, please visit Worksport’s official
website for investors at investors.worksport.com.
About Worksport
Worksport Ltd. (Nasdaq: WKSP; WKSPW),
through its subsidiaries, designs, develops, manufactures, and owns
the intellectual property 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 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. Terravis
Energy’s website is terravisenergy.com. For more information,
please visit investors.worksport.com.
Connect with Worksport
Please follow the Company’s social media
accounts on X (previously Twitter), Facebook, LinkedIn, YouTube,
and Instagram (collectively, the “Accounts”), the links of which
are links to external third party websites, as well as sign up for
the Company’s newsletters at investors.worksport.com. The Company
does not endorse, ensure the accuracy of, or accept any
responsibility for any content on these third party websites other
than content published by the Company.
Worksport strives to provide frequent updates of
its operations to its community of investors, clients, and
customers to maintain the highest level of visibility.
LinkedIn
Facebook
X (previously Twitter)
Instagram
YouTube
Investors and others should note that the
Company announces material financial information to our investors
using our investor relations website, press releases, Securities
and Exchange Commission (“SEC”) filings, and public conference
calls and webcasts. The Company also uses the Accounts to announce
Company news and other information. The information shared on the
Accounts could be deemed to be material information. As a result,
the Company encourages investors, the media, and others to review
the information the Company publishes on the Accounts.
In order to comply with Regulation FD, the
Company does not selectively disclose material non-public
information on any Account. If there is any significant financial
information, it is the policy of the Company to release it broadly
to the public through a press release or SEC filing prior to
publishing it on one of the Accounts.
For additional information, please contact:
Steven Obadiah
Investor Relations
Worksport Ltd.
T: 1 (888) 554 8789
E: investors@worksport.com
W: www.worksport.com
Forward-Looking Statements
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,”
“future,” “intend,” “plan,” “project,” or the negative of these
terms and similar expressions, as they relate to us or our
management, identify forward‐looking statements. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based only on our current
beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
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: (i) supply chain delays; (ii)
acceptance of our products by consumers; (iii) delays in or
nonacceptance by third parties to sell our products; and (iv)
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 SEC, including,
without limitation, 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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