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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):
February
23, 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
February 23, 2024, Worksport Ltd. (the “Company”) issued a press release announcing New Distribution Partnership with
Dix Performance North to Expand Presence Across Canada. 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:
February 23, 2024 |
By: |
/s/
Steven Rossi |
|
Name: |
Steven
Rossi |
|
Title: |
Chief
Executive Officer
(Principal
Executive Officer) |
Exhibit
99.1
Worksport
Ltd. Announces New Distribution Partnership with Dix Performance North to Expand Presence Across Canada
West
Seneca, New York, February 23, 2024 – Worksport Ltd. (Nasdaq: WKSP) (“Worksport” or the “Company”)
is proud to announce a new distribution partnership with Dix Performance North, Canada’s leading wholesaler of aftermarket car
and truck products. Dix Performance North - renowned for providing parts for all major car and truck brands, including industry giants
like Ford, General Motors, Toyota, Hyundai, and Stellantis - will now include Worksport’s esteemed covers in their extensive catalog.
This strategic alliance is expected to make Worksport’s range of covers widely available throughout Canada, promising to accelerate
partnership growth and contribute to significant sales and revenue increases.
This
partnership follows the successful appearance of Worksport’s Director of Business Development, Steve Raivio, at the prestigious
automotive show earlier this week hosted by Dix Performance North, which saw participation from all major brands and manufacturers in
the automotive industry.
During
the show, new orders were placed for Worksport’s hard-folding tonneau covers, with expectations of further orders as the Company’s
products continue to garner attention. Dix Performance North currently offers over 220 product lines from the industry’s most respected
brand names and focuses on performance parts, vehicle accessories, light truck performance for both gas and diesel engines, truck accessories,
car audio, and remote car starters. This includes but is not limited to names like Ford, General Motors, Toyota, Hyundai, and Stellantis.
Steve
Raivio highlighted the enthusiastic reception of Worksport products at the show, noting their impressive performance during a
rain storm, where they successfully protected cargo from the elements. “The AL3 Pro Hard Folding cover, showcased on a General
Motors truck, is a testament to Worksport’s commitment to quality and compatibility with a broad range of popular truck models,
including RAM by Stellantis, GMC and Chevrolet by General Motors, Ford, Jeep by Stellantis, Nissan, and Toyota,” Raivio added.
As
the sales tour progresses, Worksport anticipates new developments and partnerships and is committed to keeping investors updated on the
Company’s growth and expansion.
“Partnering
with Dix Performance North is a milestone for Worksport that will significantly enhance our distribution capabilities across Canada,”
said Raivio. “Our products are designed to meet the highest standards of quality and functionality, and we are thrilled to see
that reflected in the positive response at the automotive show. We believe that this partnership will open up new avenues for growth
and enable us to reach more customers with our innovative truck covers.”
For
further information, please visit Worksport’s official website for investors at investors.worksport.com.
About
Worksport
Worksport
Ltd. (Nasdaq: WKSP), 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 currently maintains an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport’s
hard-folding cover, designed and manufactured in-house, is compatible with RAM, Chevrolet, and GMC models from General Motors, as well
as Ford, Jeep, Nissan, and Toyota pickup trucks. 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. 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.
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,” “should,” or
the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. As
Worksport continues to innovate and expand the product line, it’s important to clarify the compatibility of Worksport’s hard-folding
cover. This advanced accessory is designed to fit a variety of popular truck models, including RAM by Stellantis, GMC and Chevrolet from
General Motors, Ford, as well as Jeep by Stellantis, Nissan, and Toyota pickup trucks. While we are proud of the broad compatibility
of our product, we would like to emphasize that this does not imply exclusive partnerships with RAM by Stellantis, GMC, Chevrolet from
General Motors, Ford, Jeep by Stellantis, Nissan, and/ or Toyota. Our commitment remains to provide high-quality, versatile truck accessories
that meet the needs of a diverse range of customers and their vehicles. This statement looks forward to the possibilities that lie ahead
while recognizing the current scope of our product’s reach and compatibility. This statement applies to RAM by Stellantis, GMC
and Chevrolet from General Motors, Ford, as well as Jeep by Stellantis, Nissan, and Toyota, and to any other model for which we have
not officially announced a partnership. Terravis Energy, a fully-owned subsidiary of Worksport LTD, may reference companies such as Tesla
as examples for market development, given Tesla’s development of a heat pump. However, this does not imply that Terravis Energy
has established a partnership with Tesla. Similar references to companies like Tesla in examples or explanations are purely informational
and are used solely for the purpose of illustrating market trends or technological developments. 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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