Company: WKSP
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001641172-25-001309
Chunk: 52

Company: Worksport Ltd
Filing Date: 2025-03-28
Form: S-1
Chunk 52
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 corporate purposes,
including working capital. The actual allocation of proceeds realized from the exercise of these Warrants will depend upon the amount
and timing of such exercises, our operating revenues and cash position at such time and our working capital requirements. The Selling
Stockholder will pay any expenses incurred by the Selling Stockholder for brokerage, accounting, tax or legal services
or any other expenses incurred by the Selling Stockholder in disposing of its shares of Common Stock. We will bear all other costs,
fees and expenses incurred in effecting the registration of the shares covered by this prospectus, including, without limitation, all
registration fees and fees and expenses of our counsel and our accountants.

<div align='center'>PRIVATE PLACEMENT OF WARRANTS</div>

Subject to limited exceptions, a holder of Warrants
will not have the right to exercise any portion of its Warrants if the holder, together with its affiliates, would beneficially own more
than 4.99% (or, at the election of the purchaser prior to issuance of the Warrants, 9.99%) of the number of shares of our Common Stock
outstanding immediately after giving effect to such exercise. A holder may increase or decrease the beneficial ownership limitation up
to 9.99%, provided, however, that any increase in the beneficial ownership limitation shall not be effective until 61 days following notice
of such change to the Company.

Pursuant to the Inducement Letter, issued by the Company
to the Inducement Investor, the Company agreed to file a registration statement on Form S-3 (or another appropriate form if the Company
is not then S-3 eligible) within 40 calendar days of the date of the Inducement Letter, providing for the resale of the shares of Common
Stock issuable upon exercise of the Inducement Warrants. The Company further agreed to cause such registration statement to become effective
within 60 days following the date of the Inducement Letter, or 90 days in the event of a “full review” by the SEC. The Company
has also agreed to keep such registration statement effective until the Inducement Investor owns no Inducement Warrants or shares of Common
Stock issuable upon exercise thereof.

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In the event of any fundamental transaction, as described
in the Warrants and generally including any merger with or into another entity, sale of all or substantially all of the Company’s
assets, tender offer or exchange offer, or reclassification of the