# EDGAR Filing Document

**Accession Number:** 0001096275
**File Stem:** 0001641172-25-014449
**Filing Date:** 2025-6
**Character Count:** 14447
**Document Hash:** 177b910516f5d652168db7e601f45a76
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-014449.hdr.sgml**: 20250610

**ACCESSION NUMBER**: 0001641172-25-014449

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250610

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250610

**DATE AS OF CHANGE**: 20250610

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Worksport Ltd
- **CENTRAL INDEX KEY:** 0001096275
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLE PARTS & ACCESSORIES [3714]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 650782227
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40681
- **FILM NUMBER:** 251036028

**BUSINESS ADDRESS:**
- **STREET 1:** 2500 N AMERICA DR.
- **CITY:** WEST SENECA
- **STATE:** NY
- **ZIP:** 14224
- **BUSINESS PHONE:** 1-888-554-8789

**MAIL ADDRESS:**
- **STREET 1:** 2500 N AMERICA DR.
- **CITY:** WEST SENECA
- **STATE:** NY
- **ZIP:** 14224

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Worksport, Ltd
- **DATE OF NAME CHANGE:** 20200702

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Franchise Holdings International, Inc.
- **DATE OF NAME CHANGE:** 20090512

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TMANGLOBAL COM INC
- **DATE OF NAME CHANGE:** 19991005

?xml version='1.0' encoding='ASCII'?

**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): **<u>June 10, 2025</u>**

**<u>WORKSPORT LTD.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **<u>Nevada</u>** | **<u>001-40681</u>** | **<u>35-2696895</u>** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification No.) |

---

**2500 N America Dr**

**<u>West Seneca, New York 14224</u>** (Address of principal executive offices) (ZIP Code)

**<u>(888) 554-8789</u>**

Registrant's telephone number, including area code

**<u>Not Applicable</u>** (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 |

---

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 June 10, 2025, Worksport Ltd. (the "Company") issued a press release: "**Worksport Secures Second National Distributor & Projects $21.5M in Repeatable B2B Revenue".** 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.

**Item 9.01 Financial Statements and Exhibits.**

(d) *<u>Exhibits</u>*.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press Release dated June 10, 2025, "**Worksport Secures Second National Distributor & Projects $21.5M in Repeatable B2B Revenue**"](ex99-1.htm) |
| 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.** | **WORKSPORT LTD.** |
| Date: June 10, 2025 | By: | */s/ Steven Rossi* |
|  | Name: | Steven Rossi |
|  | Title: | Chief Executive Officer<br> (Principal Executive Officer) |

---

## Exhibit 99.1

**Exhibit 99.1**

Worksport Secures Second National Distributor & Projects $21.5M in Repeatable B2B Revenue

*Dealer Network Expands now to over 550 U.S. Locations; Recurring Revenue Expected to Further Accelerate in 2025.*

West Seneca, New York, June 10, 2025 — Worksport Ltd. **(NASDAQ: WKSP)** ("Worksport" or the "Company"), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, today announced a significant milestone: the addition of a second national automotive distributor. This strategic agreement expands the Company's partnered dealer network to over **550 locations** across the United States—representing a nearly **6x increase** since the beginning of 2025.

This momentum marks Worksport's second national distribution agreement in under two months, following its <u>April 2025 partnership</u> with Patriot Auto Group, which brought over 200 dealers under the Worksport dealer network. The newest agreement adds access to approximately 250 additional dealer accounts, further accelerating the Company's penetration into high-value retail markets through strategically aligned partners.

**Repeatable Revenue at Scale Projected to Exceed $21.5 Million—With Room to Grow**

With more than **450 new accounts added year-to-date**, up from 94 at the start of the year, Worksport's U.S. dealer network is expanding rapidly. As of today, the Company actively sells to 187 of its 550 dealer partners, with new accounts joining weekly.

At full activation, Worksport estimates these channels can support **over $21.5 million in annual repeatable revenue**, **alone (not including B2C sales via its online platform)**, driven by ongoing B2B traction and demand for its premium, American-made tonneau covers. Importantly, this figure reflects *revenue potential at **current** scale*—a number that management expects to grow meaningfully as dealer onboarding continues through the second half of this year.

Management <u>reaffirms</u> full-year **2025 revenue guidance of $20-$25 million**, representing a **2.5-3x increase year-over-year**. This surge is supported by strong dealer adoption, expanding product availability, and increasing gross margins across all sales channels.

"Our strategic focus on supporting U.S. brick-and-mortar retailers with Made-in-America products continues to prove itself," said Steven Rossi, Chief Executive Officer of Worksport. "This milestone validates the strength of our distribution model and the surging demand for competitively priced, high-quality truck accessories. With more than 17,000 potential dealer locations across the country, we've only begun to tap into our total addressable market. Following a **157% year-over-year increase in gross margin in Q1 2025**, we are extremely optimistic about the road ahead."

**Momentum Accelerates Across All Sales Channels**

In parallel with its expanding wholesale network, Worksport is maintaining strong performance in its direct-to-consumer (DTC) segment, generating approximately **$1 million in monthly e-commerce revenue – and growing**. This dual-channel model—B2B and DTC—is expected to deliver sustained top-line growth through the remainder of 2025, reinforcing the Company's diversified revenue base and accelerating overall scalability.

These developments come ahead of the anticipated **<u>Fall 2025</u> commercial launch** of **SOLIS**, Worksport's patented solar-integrated tonneau cover, and **COR**, its portable energy storage system. Together, these products are positioned to unlock new, higher-margin revenue streams in multi-billion-dollar clean-tech and off-grid power markets—well beyond the Company's core automotive footprint.

**Strategic Outlook: Positioned for Multi-Vector Growth**

With two national distributors onboard, scalable B2B infrastructure in place, and high-impact clean energy products nearing launch, Worksport is now executing across multiple growth vectors. The Company remains focused on capturing greater market share, enhancing operational efficiencies, and advancing toward **sustainable profitability and positive cash flow** in fiscal 2025 and beyond. Worksport's sales team is actively working to establish additional meaningful, strategic B2B reseller accounts within the US and Canadian markets.

**For further information:**

Investor Relations, Worksport Ltd. **T: 1 (888) 554-8789 -128**

W: <u>investors.worksport.com</u> W: <u>www.worksport.com</u> E: <u>investors@worksport.com</u>

**Join:** <u>Worksport's Newsletter</u>

**About Worksport**

Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. 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 all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. 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 Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is <u>terravisenergy.com</u>.

**Connect with Worksport**

Please follow the Company's social media accounts on <u>X (previously Twitter)</u>, <u>Facebook</u>, <u>LinkedIn</u>, <u>YouTube</u>, and <u>Instagram</u> (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 <u>investors.worksport.com</u>.

**Social Media Disclaimer**

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. 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.

**Forward-Looking Statements**

The information contained herein may contain "forward-looking statements." Forward-looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "scheduled," "expect," "future," "intend," "plan," "project," "envisioned," "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 situation 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 latest 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 <u>www.sec.gov</u>. 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.