Worksport Ltd. Factory Completion Closer As First Product Materials Start Arriving At Factory Marking Significant Progress towards Revenue Growth
- The completion of Worksport's manufacturing facility will enable the company to scale up production and generate substantial revenues. Worksport is positioned to deliver outstanding products and drive sustainable financial growth.
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West Seneca, New York, May 23, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ:WKSP;WKSPW) (the “Company” or “Worksport”) announces that the completion of the Company’s 222,000 sq. ft. Western N.Y manufacturing facility in New York is one step closer to starting production as the first materials are received at the factory. With the completion of Worksport’s state-of-the-art factory on the horizon, the Company can shift focus to sales and sustainable revenue growth.
Under the leadership of CEO Steven Rossi, Worksport has made significant strides in solidifying its position in the automotive accessories and new energy industries. The tireless efforts of the Worksport team, coupled with the unwavering commitment of dedicated investors, have brought the Company closer than ever to this major milestone.
Once fully operational, the facility is anticipated to empower Worksport to realize its true potential, enable Worksport’s manufacturing team to scale up production, enhance operational efficiency, and meet the increasing market demand for its groundbreaking products.
Steven Rossi, Worksport CEO, stated “With the imminent completion of our state-of-the-art factory, we are now better positioned than ever to deliver outstanding products and generate substantial revenues. We have received many of the first materials required to start production."
Rossi further emphasized the transformative impact of the forthcoming factory completion: "The completion of our factory is not just a symbolic achievement but a tangible step towards Worksport's financial success. We are closer than ever to actualizing our revenue goals, and I am confident that our diligent efforts and commitment to excellence will create significant value for our investors."
Worksport Ltd. remains committed to transparency and open communication with its stakeholders. As the factory is closer to start production, the Company eagerly anticipates the commencement of operations, which will unleash its full manufacturing potential and drive sustainable financial growth.
For further information, please visit Worksport's official website for investors at investors.worksport.com.
About Worksport Ltd.
Worksport Ltd. (Nasdaq:WKSP;WKSPW), through its subsidiaries, designs, develops, manufactures, and owns the IP on a variety of tonneau covers, solar integrations, and NP (Non-Parasitic), Hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. Worksport Ltd. 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 NP (Non-Parasitic), Hydrogen-based technology. For more information, please visit www.worksport.com
Connect with Worksport:
Please follow the Company’s social media accounts on Twitter, Facebook, Linkedin, YouTube, and Instagram, as well as sign up for the Company’s newsletters at www.worksport.com. Worksport Ltd. strives to provide frequent updates of its operations to its community of investors, clients, and customers to maintain the highest level of visibility.
For additional information, please contact:
Steven Obadiah
Investor Relations
Worksport Ltd.
T: 1 (888) 554 8789E: investors@worksport.com W: www.worksport.com
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," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Forward-looking 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 condition 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: supply chain delays, acceptance of our products by consumers, delays in or nonacceptance by third parties to sell our products, 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 Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K and our subsequent 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 www.sec.gov. 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.
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