Business
Worksport Raises Additional US$3 Million via Non-Brokered Private Placement
TORONTO, March 30, 2021 (GLOBE NEWSWIRE) -- Worksport Ltd (OTC:WKSP) (or the “Company”) a developer and manufacturer of high quality, modular, and
About this update from Worksport, Ltd.
[{"type":"text","content":"TORONTO, March 30, 2021 (GLOBE NEWSWIRE) -- Worksport Ltd (OTC:WKSP) (or the “Company”) a developer and manufacturer of high quality, modular, and attractively priced tonneau covers and solar-powered systems for light-duty trucks, today announced that it has raised US$3 million through a Private Investment in Public Equity (PIPE). The transaction follows the $4 million raised from the recent closing of an oversubscribed Reg-A public offering. The additional capital will boost R&D capabilities in Canada, build inventory, and significantly boost Marketing & Branding efforts to showcase upper echelon products including Worksport’s TerraVis™ solar tonneau cover system, its allied TerraVis COR™ mobile energy storage system (ESS). Worksport management is working diligently on developing a proprietary B2B sales model while establishing local assembly or manufacturing of its forthcoming TerraVis Solar Truck Cover model. Steven Rossi, Chief Executive Officer of Worksport said, “This supplementary capital demonstrates the continuing investor interest in the Worksport offering, and it will strengthen our ability focus on business and technological developments as well as opportunistically adding to a well-rounded, lean workforce. We deeply appreciate confidence being shown by all the investor interest of late. As 2021 progresses, we expect to showcase a number of our new developments and we look forward executing our business plan and delivering shareholder value.“ To stay up-to-date on all the latest Worksport news… investors, supporters, and shareholders are encouraged to follow the company’s social media accounts on Twitter, Facebook, LinkedIn, and Instagram, as well as sign up for the company’s newsletters at www.worksport.com and www.goterravis.com. Worksport will continue to update shareholders, supporters, and investors to maintain the highest level of disclosure and information dissemination as Worksport continues to grow and develop at a very rapid pace. About Worksport Ltd. Worksport Ltd. (currently OTCQB: WKSP) develops and manufactures high quality, modular, and attractively priced tonneau covers and solar-powered systems for light-duty trucks such as the Sierra, Silverado, Canyon, RAM, Ford F-Series, et al. and consumer-oriented adventures & purposes, where portable energy is a necessity. Available soon to pre-order, the modul...