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false 2024-05-02 0001096275 Worksport Ltd. 0001096275 2024-05-02 2024-05-02 0001096275 exch:XNAS wksp:CommonMember 2024-05-02 2024-05-02 0001096275 exch:XNAS wksp:WarrantsMember 2024-05-02 2024-05-02

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): May 2, 2024

WORKSPORT LTD.
(Exact name of registrant as specified in its charter)

Nevada 001-40681 35-2696895
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)

2500 N America Dr
West Seneca, New York, United States 14224
(Address of principal executive offices) (ZIP Code)

Registrant's telephone number, including area code: (888) 554-8789

N/A
(Former name or former address, if changed since 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:

☐ 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 Symbols   Name of each exchange on which registered
Common   WKSP   The Nasdaq Stock Market LLC
Warrants   WKSPW   The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 7.01 Regulation FD Disclosure

On May 02, 2024, Worksport Ltd. (the "Company") issued a press release: "Worksport Announces Monumental Partnership to Tap $3 Billion Market". 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.

Exhibit No.
Description
99.1
Worksport Announces Monumental Partnership to Tap $3 Billion Market
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)


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: May 02, 2024 By: /s/ Steven Rossi
  Name: Steven Rossi
  Title: Chief Executive Officer
(Principal Executive Officer)


EX-99.1 2 exhibit99-1.htm EXHIBIT 99.1 Worksport Ltd.: Exhibit 99.1 - Filed by newsfilecorp.com

Exhibit 99.1

Worksport Announces Monumental Partnership to Tap $3 Billion Market


Chosen as Chief of Chaos' next big project, Worksport is partnering with the team behind the viral marketing of famous brands like Manscaped, Dollar Shave Club, Paramount+, Uber, and Instacart to plot explosive growth for Worksport's innovative product lines.

West Seneca, New York, [May 2, 2024] - Worksport Ltd. (NASDAQ: WKSP), a U.S.-based manufacturer dedicated to developing innovative hybrid and clean energy solutions in light truck, overlanding, and global consumer goods markets, today announced a strategic partnership with Chief of Chaos, the masterminds behind the explosive growth of global leaders like Instacart, Manscaped, Paramount+, and Uber. This company believes this collaboration is set to propel Worksport into the spotlight, harnessing groundbreaking strategies that have revolutionized visibility and sales for the biggest names in tech and consumer services.

About the Partnership: Worksport's partnership with Chief of Chaos comes at the right moment The Company expects its revenues to grow substantially in 2024, and that production at its state-of-the-art facility is well-equipped to meet the rapidly increasing demand. Chief of Chaos brings to the table a legendary ability to craft viral brands, having catapulted companies like Uber and Instacart into everyday consumer staples. Their strategic insight is now directed at cultivating the story behind Worksport's current and upcoming products, aiming to replicate this success by enhancing the Company's market presence and driving significant sales through innovative, targeted marketing campaigns.

Worksport's nano-grid, consisting of the SOLIS Solar Cover & COR Portable Energy System, are highly anticipated by the market, and have ongoing OEM interest from global automakers like Hyundai. The system is anticipated to tap into a market potential of over $3 billion annually. By integrating advanced marketing strategies that helped redefine market opportunities for companies like Paramount+ and Manscaped, Worksport hopes to capture a substantial share of the portable power-generation market.

Steven Rossi, CEO of Worksport, expressed his enthusiasm about the partnership. "Joining forces with an elite team known for their pivotal role in scaling household names, such as Uber and Manscaped, aligns perfectly with our vision to lead the market in a new generation of innovative accessories. Chief of Chaos's proven track record provides us with optimism that our current product line and innovative nano-grid system -first units coming out this summer- should reach and exceed our ambitious targets".

Mathew Frary, CEO of Chief of Chaos, reflected on the new venture with Worksport. "At Chief of Chaos, we select companies that have a profound potential to impact and transform industries. Worksport, with their pioneering COR & SOLIS products, are set to redefine a multi-billion-dollar industry. They stand clear as a revolutionary force.


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About Worksport

We're thrilled to focus our expertise on Worksport's product lines, foreseeing another viral success story akin to our campaigns with Instacart and Paramount+." 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 has 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. 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.

Product social media Investor social media
Instagram X (previously Twitter)
Facebook LinkedIn
YouTube
Link to Newsletter

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 social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media.

The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.

For additional information, please contact:

Steven Obadiah, Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W: investors.worksport.com W: www.worksport.com E: investors@worksport.com The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events.


Forward-Looking Statements

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. These 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.