Richmond Hill, Ontario, Canada, May 24, 2023 (GLOBE NEWSWIRE) — Worksport Ltd. WKSP WKSPW))) (the “Company” or “Worksport”) is pleased to announce that a national US customer and reseller of automotive aftermarket accessories has approved the hard-folding light truck cover samples the Company had supplied previously for the reseller’s review and testing .
The customer previously had made known its intention to review Worksport samples and, upon approval, to purchase sizable quantities of the Company’s tonneau covers for distribution across the United States. Worksport and resellers can now work together to finalize the anticipated transaction, with cover assembly and shipment to follow. The covers will be assembled at the Company’s wholly-owned 220,000 sq. ft. manufacturing facility in West Seneca, NY, with many newly hired employees from the area taking part in the process, after rigorous training.
“The expected large light truck cover order from a national US reseller demonstrates Worksport once again delivering on its goal to begin a long-anticipated period of revenue generation,” said Worksport CEO Steven Rossi. “We were honored that this widely recognized national brand reviewed and rapidly approved our hard-folding cover samples. We anticipate completing the order process and expect to start the covers’ US production shortly. It’s a great Company milestone and we look forward to informing investors and shareholders on the order’s progress.”
Worksport’s hard-folding tonneau covers are expected to be market-ready upon production.
“Everyone at our West Seneca, NY manufacturing facility has been eagerly anticipating this approval since there has been so much testing and training on our custom European manufacturing line,” Rossi said. “Management and the employees have a great deal of pent-up energy and are ready to put together our hard-folding tonneau covers and deliver them to this customer and many others. They take great pride in the high-quality products that will best serve the multi-billion-dollar light truck industry. We look forward to operating our manufacturing facility and demonstrating its advanced production capabilities.”
For further information, please visit Worksport’s official website for investors at investors.worksport.com.
About Workport Ltd.
Worksport Ltd. WKSP, through its subsidiaries, designs, develops, manufactures, and owns the IP 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 Ltd. 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 www.worksport.com
Connect with Workport:
Please follow the company’s social media accounts on Twitter, Facebook, Linkedin, YouTube, and Instagram, as well as signing up for the company’s newsletters at www.worksport.com. Worksport Ltd. 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
Twitter
Instagram
YouTube
For additional information, please contact:
Steven Obadiah
Investor Relations
Worksport Ltd.
Q: 1 (888) 554 8789
E: [email protected]
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,” 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 conditions 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 conditions to differ materially from those indicated in the forward-looking statements include, among others, the following: supply chain delays, acceptance of our products by consumers, delays in or non-acceptance by third parties to sell our products, 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 Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K and our subsequent 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, assuming 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.