Benzinga | Aug 4, 2021 07:14AM EDT

Worksport Announces NASDAQ Uplisting, To Begin Trading Today, August 4 Under Ticker 'WKSP'

Worksport Ltd. (NASDAQ:WKSP, WKSPW))) (or the "Company"), a developer and manufacturer of high quality, modular, and attractively priced tonneau covers, and solar powered systems for light-duty trucks, is announcing it has received approval to list its common stock and warrants on the Nasdaq Stock Market's Capital Markets Exchange, with trading commencing today, August 04th, 2021. The Nasdaq ticker symbols for the Company's common stock and warrants will be WKSP and WKSPW, respectively. As part of the process for meeting Nasdaq's initial listing requirements, the Company completed a 1-for-20 reverse stock split of its outstanding common stock on August 04th, 2021. Commenting on the NASDAQ uplisting, Steven Rossi, Worksport's Chief Executive Officer, said, "We are delighted to see our shares begin trading on Nasdaq. Nasdaq is home to many of the world's leading technologies where cutting-edge research on sustainable energy is taking place. Not every company can meet the financial and liquidity requirements for listing on Nasdaq, and we are proud to have met the qualifications needed to trade on this prestigious exchange. We believe this step will raise our visibility with the investment community. Many institutional investors cannot invest in companies that are not listed on a major exchange, so we believe this move may lead to a broadening of our shareholder base, particularly among institutional investors looking for emerging technologies in sustainable energy research. "At the conclusion of our recent public offering, Worksport has a balance sheet with more than $20,000,000 million in cash and cash equivalents, and no long-term debt. We have accomplished a great deal in the past year despite the pandemic, and we look forward to the additional opportunities afforded by our strengthened balance sheet and higher profile with the investor community." To stay up to date on all the latest Worksport news, investors, supporters, and shareholders are encouraged to 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. Worksport will continue to update shareholders, supporters, and investors to maintain the highest level of disclosure and information dissemination as Worksport continues to grow and develop at a very rapid pace