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press release

Aug. 24, 2021, 8:00 a.m. EDT

Worksport Appoints Ambassador Ned L. Siegel and William J. Caragol to Board of Directors

Mississauga, Aug 24, 2021 (GLOBE NEWSWIRE via COMTEX) -- Mississauga, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Worksport Ltd (Nasdaq-CM: WKSP; WKSPW) (the "Company") appointed U.S. Ambassador Ned L. Siegel and William J. Caragol to its Board of Directors as of June 30, 2021.

Worksport's commitment to decarbonizing transportation and innovating clean energy production is something management believes is vitally important for today's world. The Company is acutely focused on bringing robust products to market that Worksport believes has the potential to shift consumers' mindsets of adopting clean-energy technologies. Worksport is also committed to establishing relationships with government agencies to expand support for these strategic initiatives. The appointments of government and technology veterans Amb. Ned L. Siegel and William J. Caragol, directly reflect this commitment.

Amb. Siegel is a lawyer, real estate businessman, and former U.S. ambassador to the Commonwealth of the Bahamas. With over 30 years of business successes, Amb. Siegel's significant CV includes appointment by former Florida Governor Jeb Bush to Enterprise Florida's Board of Directors and the Space Research and Commerce Park Planning & Development Committee at the John F. Kennedy Space Center. President George W. Bush honored Amb. Siegel in 2003 with a Presidential Appointment to the Board of Directors of the Overseas Private Investment Corporation (OPIC) followed by an appointment in 2006 to serve as a Representative of the United States to the United Nations.

Worksport believes that Amb. Siegel's appointment will provide the introductions necessary to promote its products with government agencies, military networks, the Department of Homeland Security and FEMA.

"It is an honor and a privilege to be appointed by Worksport management, a team that not only understands what the EV & Sustainable Energy markets need, but also brings a winning vision with infinite wisdom to provide these markets with world-class products. I look forward to working with them and supporting them with strategic government relationships," states Amb. Siegel.

William J. Caragol is Managing Director at Quidem LLC, a corporate advisory firm that assists early- and late-stage companies in corporate strategy and positioning, as they relate to new product development and commercialization, among many other corporate services. Mr. Caragol has been involved in various market sectors as a tech investor and executive, including positions as Director, Chairman, CEO, and CFO of many public and private technology companies, ranging from Biotechnology, Blockchain, Medical Products, Homeland Security, and Information Technology. One of his recent roles being Director - Audit Committee Chair for GreenBox POS.

Mr. Caragol brings significant advisory and technological expertise to Worksport's leadership team. Mr. Caragol's appointment only solidifies Worksport's bid to become an innovator and market leader in the Green Energy automotive sector.

"The Worksport team's accomplishments and aspirational goals for green energy solutions for the automotive industry and beyond are truly impressive. I am excited to join them on this journey," states Mr. Caragol.

About Worksport Ltd.

Worksport Ltd. /zigman2/quotes/200413469/composite WKSP -2.04% designs, develops, manufactures tonneau truck covers and solar-based, true green energy systems for the automotive industry. Its technology is also being applied to consumer recreation, emergency/disaster-recovery purposes, and job site mobile power. The modular TerraVis [(TM)] tonneau cover system is being designed to supply extra electrical power to vehicles and other portable devices through true green energy methods. The TerraVis COR [(TM)] mobile energy storage system (ESS), expected to launch by end of 2021 is targeted for use by a wide array of portable power applications. For more information, please visit www.worksport.com .

Connect with Worksport:

Please 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 strives to provide frequent updates of its operations to its community of investors, clients, and customers to maintain the highest level of visibility.

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For additional information, please contact:
Faran Ali
Business Development Manager
Worksport Ltd.
T: 1-(888) 506-2013
E: investors@worksport.com

Forward-LookingStatements

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. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of the Company concerning its business strategy, an up listing to a national exchange, future operating results and liquidity and capital resources outlook. Forward�?�looking statements are based on the Company's current expectations and assumptions regarding its business, 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. The Company's actual results may differ materially from those contemplated by the forward�?�looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward�?�looking statements. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward�?�looking statements to conform these statements to actual results. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Attachments

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/zigman2/quotes/200413469/composite
US : U.S.: Nasdaq
$ 2.40
-0.05 -2.04%
Volume: 176,350
Jan. 21, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$41.34 million
Rev. per Employee
$102,455
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