Worksport Ltd.
(Nasdaq: WKSP;
WKSPW) (“Worksport” or the “Company”) is pleased to
announce that it has formed a strategic partnership with
NeuronicWorks Inc., a Toronto-based high-tech custom electronic
product development and manufacturing company, to manufacture and
assemble the COR battery system in preparation for the system’s
anticipated Alpha release. Along with supplying Worksport’s circuit
boards for the COR hub, NeuronicWorks will perfect the construction
of the full unit.
COR’s Alpha release, which will allow real-world
testing and first-hand user experiences, is intended to be a
pivotal step towards the manufacturing of the COR system in Canada,
and eventually launching it using both international and domestic
parts. Working together, Worksport and NeuronicWorks intend to
implement a rigorous quality control process to ensure the highest
quality standards.
“The partnership with NeuronicWorks is very
important for our vision of a ‘Made in North America’ product,”
said Rafael Oliveira, Worksport’s Chief Technology Officer. “We
will be able to consistently observe NeuronicWorks’ manufacturing
our COR battery system. In addition, the physical proximity of
Worksport and NeuronicWorks in the Toronto area allows for a deep
synergy. It’s exciting to have such a strong partner in the
development of mobile microgrids and portable power sources.”
“Selecting a high-tech manufacturing partner
like NeuronicWorks is a big step for Worksport on the road to the
eventual market introduction of the revolutionary and world-beating
SOLIS solar light truck cover and its companion COR battery
system,” said Worksport CEO Steven Rossi. “We are thrilled to be
partnering with such a distinguished electronic engineering leader
and benefit from its substantial track record in bringing to market
highly advanced proprietary products. Assembling the COR system in
Canada in partnership with this leading electrical engineering
company is a testament to our commitment to quality and
sustainability. By bringing assembly to Canada, we have
further strengthened our position in the renewable energy
sector.”
“We are proud to be involved with breakthrough,
revolutionary products, such as Worksport’s COR battery system and
its companion SOLIS solar truck cover,” said NeuronicWorks CEO Titu
Botos. “Innovation and creativity are what drives our team of
talented designers and engineers, and we are very excited to be
actively engaged in the development of Worksport’s COR portable
battery system. This collaboration aligns with our commitment to
continue innovation in the field of cleantech and green
energy.”
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.
About NeuronicWorks Inc.
NeuronicWorks Inc., a leading product design
engineering and manufacturing house, was established in 2009 in the
heart of Canada’s vibrant tech community. NeuronicWorks provides
end-to-end, custom electronic product development and manufacturing
services all the way from initial concept, and detailed design to
prototyping, certification and turnkey manufacturing. Certified by
the Professional Engineers of Ontario (PEO) and also IPC and
ISO 9001 certified, its talented, customer-oriented designers and
engineers are committed to excellence and standards of practice
that are the hallmark of professional engineering. We also have a
strong network of partners comprising major suppliers and
technology providers from around the world.
Connect with Worksport
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and Instagram (collectively, the “Accounts”), the links
of which are links to external third party websites, as well as
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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.
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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. at
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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