Worksport Ltd (OTCMKTS: WKSP) is making a powerful move up the charts as EV stocks heat across the board. The stock has a history of big moves making 2 runs over the past year over $0.05. The Company recently reported it is offering 40,000,000 Units with each unit representing one share of common stock and one Common Share purchase warrant at an exercise price of $0.20 USD. WKSP CEO Steven Rossi said that the proceeds will be used for further development and expedited launch of the TerraVis™ system, as well as existing product inventory, and other exciting projects to be announced soon.
Among the upcoming projects are agreements with two EV manufacturers, solidifying the bright future ahead for the growth of Worksport. Hercules Electric Mobility Inc., Detroit, MI, is partnering with Worksport to introduce the ground-breaking TerraVis™ tonneau system, integrating solar panels and battery banks for a mobile power solution, as a Tier One OEM supply partner for their upcoming Alpha electric pickup. Similarly, Atlis Motor Vehicles, Mesa, AZ, is also configuring TerraVis™ as an OE accessory for their highly anticipated Atlis XT electric pickup truck.
Worksport Ltd (OTCMKTS: WKSP) operating out of Toronto, Ontario is an innovative manufacturer of high quality, functional, and aggressively priced tonneau/truck bed covers for light trucks like the F150, Sierra, Silverado, Canyon, RAM, and Ford F-Series. In the Canadian market, Worksport does the majority of its business with warehouse distributors, and select dealer customers. In the US market, Worksport’s customer base is mostly dealers and wholesalers.
Worksport USA is a supplying member of one of the largest after-market buying groups in the USA. American Aftermarket Group (AAG), owned by Line-X coatings, consists of over 700 car and truck accessory stores. Being a supplying member of AAG gives Worksport access to most of the large truck accessory dealers, wholesalers, and online stores in the USA. Our products are sold to AAG members by the sales staff at AAG and all customer service and maintenance is done through phone calls, emails, and infrequent visits.
Worksport Canada sells to only select dealers in Ontario as well as, the largest warehouse distributor in eastern Canada. Robert Thibert in Châteauguay, QC has over 600,000 square feet of warehouse space in three provinces in Canada. Robert Thibert is responsible for stocking and selling our product to their customer base in Canada. Worksport dealer sales in Ontario are to only select dealers who assist with product feedback. Worksport customers include; Enterprise Robert Thibert (Québec, Canada), Trailer Parts Etc. (Florida, USA), AutoAnything (California), and Turn 5 Distributing.
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Worksport Ltd. is a fully owned subsidiary and the current lead investment of FNHI. Worksport is a manufacturer of high quality, cost effective tonneau covers and accessories for trucks. It designs and produces hard-working and affordable pick-up truck gear for both work and sport. The company’s product line is versatile and future-focussed, meeting a substantial need within the market. Worksport offers traditional products that are both affordable and dependable, while also offering innovative and sophisticated variations that the pick-up truck market currently lacks. Worksport currently serves customers in Canada and the United States. On February 12 FNHI announced it expects to soon begin distribution of Worksport tonneau covers for the light truck market through the Amazon.com, Inc. Marketplace.
on the recent offering CEO Steven Rossi stated: “Worksport has achieved some significant milestones recently, including revealing our ground-breaking TerraVis™ system, a fusion of cutting edge solar power, storage, and delivery. In a year with constant development of our products and intellectual property, the Regulation-A offering is yet another major breakthrough for Worksport, seeking to access capital in our primary market, the U.S., where our securities are listed. We are proud of our accomplishments in the last decade, exponentially growing the company’s foundation with constant improvements in our product offering of high-quality tonneau covers in the B2B market, with no real outside funding or exploration of B2C sales channels,” said Rossi. “Now, for the first time in Worsksport’s history, we are preparing our latest innovation, TerraVis™, for B2B and B2C channels, and are seeking investment partners to provide additional capital for a timely delivery of TerraVis™, in synchronization with the launch of EV pick-up trucks, providing for significant anticipated improvements in operating results at the company. Our new Regulation A qualification is our latest breakthrough that will make it possible for more members of the public to invest directly, similar to a crowdfunding model. We thank in advance all those who may be interested in investing for their support.”
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Currently running northbound WKSP is an exciting story developing in small caps that is getting a boost from the red hot EV space. The Company just launched a new website as well as a brand new tonneau cover system with solar power integration. The site, GoTerraVis.com, is now home to much awaited publicly available information on the TerraVis™ system – a platform for versatile and cost-effective solar power integrations for pick-up trucks. This groundbreaking innovation is the very first to combine practical, durable tonneau covers with a cutting-edge solar generation and energy storage system. Management is pleased to announce that it is presently in discussions with various parties interested in commercial partnerships with the TerraVis™ technology system, including a high-profile future electric truck manufacturer. WKSP has very little debt and a tight float; the Company is by Steven Rossi who does not take on toxic debt or dilute the share structure which has remained stable at 43mm shares outstanding. Mr. Rossi is focused on building the Company. selling truck covers and taking WKSP to a higher exchange. We will be updating on WKSP on a daily basis so make sure you are subscribed to microcapdaily.com so you know what is going on with WKSP.
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Disclosure: we hold no position in WKSP either long or short and we have not been compensated for this article.