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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):
January
11, 2024
Worksport,
LTD
(Exact
Name of Registrant as Specified in its Charter)
Nevada |
|
001-40681 |
|
35-2696895 |
(State
of
incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer
Identification No.) |
2500
N America Dr
West
Seneca, NY 14224
(Address
of principal executive offices)
888-554-8789
(Registrant’s
telephone number, including area code)
N/A
(Former
Name or former address if changed from 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 (see General Instruction A.2. below):
☐ |
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) |
|
|
☐ |
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:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
|
|
WKSP |
|
The
Nasdaq Stock Market LLC |
Warrants |
|
WKSPW |
|
The
Nasdaq Stock Market LLC |
Item
7.01 Regulation FD Disclosure
On
January 11, 2024, Worksport Ltd. (the “Company”) issued a press release announcing [Second Soft Cover Factory and Increases
Production in Buffalo, New York]. A copy of the press release is attached hereto as Exhibit 99.1.
The
information under Item 7.01 of this Current Report on Form 8-K and the exhibit attached hereto shall not be deemed “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section,
or incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, except as shall be
expressly set forth by specific reference in any such filing.
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.
|
WORKSPORT
LTD. |
|
|
Date:
January 11, 2024 |
By: |
/s/
Steven Rossi |
|
Name: |
Steven
Rossi |
|
Title: |
Chief
Executive Officer
(Principal
Executive Officer) |
Exhibit 99.1
Worksport
Ltd. Announces Second Soft Cover Factory and Increases Production in Buffalo, New York
West
Seneca, New York, January 11, 2024 – Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”)
is announcing today plans to expand soft folding tonneau cover production to a second overseas factory. With its current overseas factory
already at fully capacity. This is in anticipation of expected additional demand as Worksport begins to ramp up sales efforts within
the USA and Canada.
In
line with this growth, the Company is also ramping up production capacity for its hard folding tonneau covers at its state-of-the-art
facility in Buffalo, New York. This increase in manufacturing capacity is to meet the market demand for its products.
“We
are excited to expand our manufacturing capabilities globally,” said Steven Rossi, CEO of Worksport. “The new overseas factory
is expected to leverage our existing expertise in producing high-quality soft folding covers, ensuring we meet the strong demand swiftly
and efficiently.”
Worksport’s
commitment to innovation and quality is evident in its recent developments. The SOLIS Solar Cover and the COR Battery System are fully
under development, and management expects that they will set a new standard in the automotive aftermarket by combining eco-friendliness
with practicality. These products not only may offer additional mileage for EV pickups but also embody Worksport’s dedication to
sustainable and renewable energy solutions. Moreover, the COR Battery System can be utilized independently of a pickup truck. Management
anticipates sharing exciting updates on both SOLIS and COR Systems soon.
“We
believe in constant innovation and adapting to our customer’s needs,” added Steven Rossi. “Our expansion in China and
the production boost in our Buffalo facility are just the beginning. We are eager to redefine the truck accessory market while contributing
to a greener future.”
Production
at a second factory overseas is a testament to Worksport’s global vision and operational excellence. With this expansion, Worksport
is not only addressing the immediate market needs but also solidifying its position in the automotive aftermarket and green tech industry.
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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