Company: WKSP
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001641172-25-001309
Chunk: 7

Company: Worksport Ltd
Filing Date: 2025-03-28
Form: S-1
Chunk 7
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 was issued 1,000 shares of Series A Preferred Stock of TerraVis at par value of $0.0001,
representing 100% of the authorized Series A Preferred Stock, in consideration for services rendered. The shares of Series A Preferred
Stock vote together with the common stock of TerraVis, unless prohibited by law, and have 51% voting power, regardless of how many shares
of Series A Preferred Stock are outstanding.

Worksport USA Operations Corporation was incorporated
in the State of Colorado on March 23, 2022. On March 23, 2022, the Company was issued 1,000 shares of Common Stock at par value of $0.0001
per share, representing 100% of the outstanding equity of Worksport USA Operations Corporation.

Worksport New York Operations Corporation was incorporated
in the State of New York on March 31, 2022. On April 1, 2022, the Company was issued 10,000 shares of common stock at par value of $0.0001
per share, representing 100% of the outstanding equity of Worksport New York Operations Corporation.

Worksport Acquisition Corporation was incorporated
in the State of Delaware on December 28, 2021. On January 1, 2022, the Company was issued 1,000 shares of Common Stock at par value of
$0.0001 per share, representing 100% of the outstanding equity of Worksport Acquisition Corporation. On August 8, 2023, this corporation
was dissolved due to lack of operations and activity.

Worksport USA Holding Corporation was incorporated
in the State of Colorado on March 11, 2022. On March 11, 2022, the Company was issued 1,000 shares of common stock at par value of $0.0001
per share, representing 100% of the outstanding equity of Worksport USA Holding Corporation. On May 25, 2023, this corporation was dissolved
due to lack of operations and activity.

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Recent Offerings

February 2025 Inducement Letter for the Exercise of Existing Warrants in Exchange for the Issuance of Inducement Warrants

On February 27, 2025, we entered into a common stock warrant exercise inducement offer letter (the “Inducement Letter”) with a certain holder (the “Holder”) of existing warrants to purchase shares of the Company’s common stock at an exercise price of $