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Worksport Receives over US$2.3 Million to date from Exercised Warrants

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WKSP

TORONTO – March 4th, 2021 — Worksport Ltd (OTC: WKSP) (or the “Company”) is announcing that following the success of their previously oversubscribed Regulation-A public offering, the Company has received over US$2,300,000 from investors who have exercised their warrants.  Having close to 20% of outstanding warrants exercised in such short order following the closeout of the offering again signals the strong interest and support from Worksport’s dedicated investors and shareholders alike.

This additional influx of capital will go to work towards its strategic North American and Chinese manufacturing investments as well as in the development of its TerraVis™ solar tonneau cover system and TerraVis COR™ mobile energy storage system (ESS).

“We would like to take this second opportunity to again express our sincere gratitude by thanking those who invested, continue to share our vision of a bright future, and managed to exercise their warrants in a quick turnaround,” said Worksport CEO Steven Rossi.  “We are in the midst of a major growth period for the Company as we continue to receive this additional working capital that will all but ensure the realization of both the TerraVis™ tonneau cover system and its allied TerraVis COR™ mobile energy storage system to market.  As was stated earlier this week, the Company is deep in discussions with high profile market players as strategic means for rapid & sustainable growth.  Worksport has a myriad of amazing developments in the works and will be updating shareholders on several projects as they become material.”

Investors are reminded that they may redeem their warrants anytime within a period of 12 months from the time of their investment at a price of 20 cents ($0.20) per share.  Worksport strongly encourages investors to exercise their warrants before they expire, especially as they are currently in the money as of the time of this writing.  Warrant redemption can be executed directly with Worksport by emailing the completed warrant redemption form (previously emailed to them) to Faran Ali at fali@worksport.com. They may also call 1 (888) 506-2013 or (917) 793-1634 for assistance through the process.

To stay up-to-date on all the latest Worksport news… investors, shareholders, and supporters are encouraged to follow the company’s social media accounts on Twitter, Facebook, LinkedIn, and Instagram, as well as sign up for the company’s newsletters at www.worksport.com and www.goterravis.com.  Worksport will continue to update investors, shareholders, and supporters to maintain the highest level of disclosure and information dissemination as Worksport continues to grow and develop at a very rapid pace.

About Worksport Ltd.

Worksport Ltd. (currently OTCQB: WKSP) develops and manufactures high quality, modular, attractively priced tonneau covers and solar-powered systems for light-duty trucks such as the Sierra, Silverado, Canyon, RAM, Ford F-Series, et al. and consumer adventures & emergency/ disaster-recovery purposes, where portable energy is a necessity.  The modular, redefining Worksport TerraVis™ tonneau cover system is being mindfully designed for the jobsite contractor and off-road, light-duty trucker – for work and play – to sustainably supply extra energy for those additional miles.  Its allied TerraVis COR™ mobile energy storage system (ESS), expected to launch by end of 2021, will be another redefining product targeted for vacationers, second-home owners, and campers.  Plans are also being constructed to address the dire adoption & scaling needs of the EV markets with grid micro-charging stations to provide convenience and efficiency in recharging to smaller form-factor EVs.  For more information, please visit www.worksport.com and www.goterravis.com.

Connect with Worksport:

LinkedIn

Facebook

Twitter

Instagram

For further information please contact:

Mr. Steven Rossi
CEO & Director

Worksport, Ltd

T: 1-888-554-8789
E: srossi@worksport.com

 

Forward-Looking Statements

This document may contain forward-looking statements, relating to Worksport, Ltd. operations or to the environment in which it operates, which are based on Company estimates, forecasts, and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Worksport, Ltd.’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Worksport, Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

BenzingaPRs

Worksport Reports 2020 Full Year Financial Results and Provides Business Update

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EV Updates

  • Ended 2020 with $1.1 Million in Cash and Cash Equivalents
  • Introduced Upcoming TerraVis™ Product Line
  • Announced Tier-One OEM Supply Agreement with Major EV Manufacturer

TORONTO – April 14 , 2021 — Worksport Ltd (OTC: WKSP) (or the “Company”) a developer and manufacturer of high quality, modular, and attractively priced tonneau covers and solar-powered systems for light-duty trucks, today reported financial results for the fourth quarter and full year ended December 31, 2020.

Steven Rossi, Chief Executive Officer of Worksport said, “Worksport today is a significantly stronger and more diversified company than it was a year ago.  Like most companies, the Covid-19 pandemic significantly impacted operations but our capital structure, which includes no long-term debt, allowed us to use that time to lay the groundwork for what we believe will be significant revenue growth in the future.  We now have a full line of innovative tonneau covers that have been meticulously scrutinized as we retooled for greater manufacturing capacity in preparation for the 2021 production year.  Most importantly, in late August, we introduced TerraVis™, revolutionary development in the emerging EV market that we believe is a transformative step in our evolution, and to that end we announced an agreement with Hercules Electric Mobility Inc. to become a Tier-One OEM supplier for their highly anticipated Alpha Electric Pickup, with over US $27 million in early customer reservations.  Finally, and as a testament to the enthusiasm investors have for Worksport, late in 2020 we initiated a Reg-A offering which by December 31, 2020 had raised more than $1 million, and by the time we closed the offering in February 2021, had raised more than $4 million.  This capital will allow us to invest in manufacturing capabilities, building inventory, and boosting our marketing and branding efforts.  With an anticipated surge in consumer spending many say will follow the end of the pandemic, and the emerging market for electric vehicles and accessories, Worksport is well-positioned to benefit from these developing trends.”

Subsequent Events

  • In February 2021, Worksport closed its oversubscribed Reg-A offering, raising more than $4 million
  • To date, Worksport received an additional $2.9 million from the exercise of warrants associated with its Reg-A offering
  • Worksport raised $3 million from non-brokered Private Placement

Full Year 2020 Financial Results

For the year ended December 31, 2020, total revenues were $346,144, compared to $1,926,405 for the year ended December 31, 2019.

Net loss for the year ended December 31, 2020 was $1,187,620 compared to a net loss of $359,034 for the prior year period

Total cost of sales for the year ended December 31, 2020 decreased by 82% from $1,687,857 to $298,996 for the prior year period.

General and administrative expenses were $201,929 in 2020 compared to $238,841 for the prior year period.

To stay up-to-date on all the latest Worksport news… investors, supporters, and shareholders are encouraged to follow the company’s social media accounts on Twitter, Facebook, LinkedIn, and Instagram, as well as sign up for the company’s newsletters at www.worksport.com and  www.goterravis.com.

 

About Worksport Ltd.

Worksport Ltd. (currently OTCQB: WKSP) develops and manufactures high quality, modular, and attractively priced tonneau covers and solar-powered systems for light-duty trucks such as the Sierra, Silverado, Canyon, RAM, Ford F-Series, et al. and consumer-oriented adventures & purposes, where portable energy is a necessity. Available soon to pre-order, the modular, redefining Worksport TerraVis™ tonneau cover system is being mindfully designed for the jobsite contractor and off-road, light-duty trucker, for work and play, to sustainably supply extra energy for those additional miles.  Expected to launch by end of year 2021, its allied TerraVis COR™ mobile energy storage system (ESS), will be another redefining product targeted for vacationers, second-home owners, and campers.  Plans are also being constructed to expand with grid micro-charging stations to provide convenience and efficiency in recharging to smaller form-factor EVs.  For more information, please visit www.worksport.com and www.goterravis.com.

Connect with Worksport:

LinkedIn

Facebook

Twitter

Instagram

For further information please contact:

Mr. Steven Rossi
CEO & Director

Worksport, Ltd

T: 1-888-554-8789
E: srossi@worksport.com

 

Forward-Looking Statements

This document may contain forward-looking statements, relating to Worksport, Ltd. operations or to the environment in which it operates, which are based on Company estimates, forecasts, and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Worksport, Ltd.’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Worksport, Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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BenzingaPRs

Worksport Ltd to Present at Benzinga Cleantech Small Cap Conference

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TORONTO – April 13th, 2021 — Worksport Ltd (OTC: WKSP) (or the “Company”) a developer and manufacturer of high quality, modular, and attractively priced tonneau covers and solar-powered systems for light-duty trucks, today announced that Steven Rossi, Chief Executive Officer, will present an overview of Worksport at the Benzinga Cleantech Small Cap Conference on April 22, 2021 at 10:10 am.   Following the presentation and Q&A session, Rossi will be speaking at a panel discussion titled Emerging Innovations and the Companies Behind Them at 1:00pm.  This panel will highlight companies pushing for a paradigm shift in the way our economy functions to create sustainable value.

Investors interested in attending the virtual conference and listening to the presentation and panel discussion via webcast, should register visiting  https://www.benzinga.com/events/small-cap/clean-tech/ .  For more information regarding the conference or to schedule a one-on-one meeting with management, please email investors@worksport.com  or your Benzinga representative directly.

To stay up-to-date on all the latest Worksport news… investors, supporters, and shareholders are encouraged to follow the company’s social media accounts on Twitter, Facebook, LinkedIn, and Instagram, as well as sign up for the company’s newsletters at www.worksport.com  and www.goterravis.com.

About Worksport Ltd.

Worksport Ltd. (currently OTCQB: WKSP) develops and manufactures high quality, modular, and attractively priced tonneau covers and solar-powered systems for light-duty trucks such as the Sierra, Silverado, Canyon, RAM, Ford F-Series, et al. and consumer-oriented adventures & purposes, where portable energy is a necessity. Available soon to pre-order, the modular, redefining Worksport TerraVis™ tonneau cover system is being mindfully designed for the jobsite contractor and off-road, light-duty trucker, for work and play, to sustainably supply extra energy for those additional miles.  Expected to launch by end of year 2021, its allied TerraVis COR™ mobile energy storage system (ESS), will be another redefining product targeted for vacationers, second-home owners, and campers.  Plans are also being constructed to expand with grid micro-charging stations to provide convenience and efficiency in recharging to smaller form-factor EVs.  For more information, please visit www.worksport.com and www.goterravis.com.

Connect with Worksport:

LinkedIn

Facebook

Twitter

Instagram

For further information please contact:

Mr. Steven Rossi
CEO & Director

Worksport, Ltd

T: 1-888-554-8789
E: srossi@worksport.com

Forward-Looking Statements

This document may contain forward-looking statements, relating to Worksport, Ltd. operations or to the environment in which it operates, which are based on Company estimates, forecasts, and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Worksport, Ltd.’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Worksport, Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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BenzingaPRs

Worksport Raises Additional US$3 Million via Non-Brokered Private Placement

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Worksport Terravis Solar System On Electric Pickup Truck

TORONTO – March 30, 2021 — Worksport Ltd (OTC:WKSP) (or the “Company”) a developer and manufacturer of high quality, modular, and attractively priced tonneau covers and solar-powered systems for light-duty trucks, today announced that it has raised US$3 million through a Private Investment in Public Equity (PIPE). The transaction follows the $4 million raised from the recent closing of an oversubscribed Reg-A public offering. The additional capital will boost R&D capabilities in Canada, build inventory, and significantly boost Marketing & Branding efforts to showcase upper echelon products including Worksport’s TerraVis™ solar tonneau cover system, its allied TerraVis COR™ mobile energy storage system (ESS). Worksport management is working diligently on developing a proprietary B2B sales model while establishing local assembly or manufacturing of its forthcoming TerraVis Solar Truck Cover model.

Steven Rossi, Chief Executive Officer of Worksport said, “This supplementary capital demonstrates the continuing investor interest in the Worksport offering, and it will strengthen our ability focus on business and technological developments as well as opportunistically adding to a well-rounded, lean workforce. We deeply appreciate confidence being shown by all the investor interest of late. As 2021 progresses, we expect to showcase a number of our new developments and we look forward executing our business plan and delivering shareholder value.“

To stay up-to-date on all the latest Worksport news… investors, supporters, and shareholders are encouraged to follow the company’s social media accounts on Twitter, Facebook, LinkedIn, and Instagram, as well as sign up for the company’s newsletters at www.worksport.com and www.goterravis.com. Worksport will continue to update shareholders, supporters, and investors to maintain the highest level of disclosure and information dissemination as Worksport continues to grow and develop at a very rapid pace.

About Worksport Ltd.

Worksport Ltd. (currently OTCQB: WKSP) develops and manufactures high quality, modular, and attractively priced tonneau covers and solar-powered systems for light-duty trucks such as the Sierra, Silverado, Canyon, RAM, Ford F-Series, et al. and consumer-oriented adventures & purposes, where portable energy is a necessity. Available soon to pre-order, the modular, redefining Worksport TerraVis™ tonneau cover system is being mindfully designed for the jobsite contractor and off-road, light-duty trucker, for work and play, to sustainably supply extra energy for those additional miles. Expected to launch by end of year 2021, its allied TerraVis COR™ mobile energy storage system (ESS), will be another redefining product targeted for vacationers, second-home owners, and campers. Plans are also being constructed to expand with grid micro-charging stations to provide convenience and efficiency in recharging to smaller form-factor EVs. For more information, please visit www.worksport.com and www.goterravis.com.

Connect with Worksport:

LinkedIn

Facebook

Twitter

Instagram

For further information please contact:

Mr. Steven Rossi
CEO & Director

Worksport, Ltd

T: 1-888-554-8789
E: srossi@worksport.com

Forward-Looking Statements

This document may contain forward-looking statements, relating to Worksport, Ltd. operations or to the environment in which it operates, which are based on Company estimates, forecasts, and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Worksport, Ltd.’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Worksport, Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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