Worksport subsidiary Terravis Energy Accepts Offer from Indigenous Critical Infrastructure Fund to be Exclusive Clean Energy Partner for Sustainable Energy Infrastructure

Worksport subsidiary Terravis Energy Accepts Offer from Indigenous Critical Infrastructure Fund to be Exclusive Clean Energy Partner for Sustainable Energy Infrastructure

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Mississauga – May 4, 2022 — Worksport Ltd (Nasdaq: WKSP) (the “Company”) subsidiary Terravis Energy, foreseeing the future of the sustainable energy markets, has accepted an offer from the Indigenous Critical Infrastructure Fund (ICIF) to be its exclusive clean energy partner for sustainable energy infrastructure across all Indigenous lands.

After visiting Worksport’s manufacturing facilities and learning more about the Company, Chief Keith Matthew, ICIF Chairman of the Board, had a first-hand opportunity to provide insights to leadership on historic obstacles, present expectations, and future aspirations of Indigenous peoples.  Chief Matthew explained how Canada has embraced the global mandate: United Nations Declaration on the Rights of Indigenous Peoples Act (UNDRIP) and, in turn, has adopted recommendations from the Truth and Reconciliation Commission, a framework for economic restoration for Indigenous peoples.  To address the resultant considerable challenges for Indigenous peoples, Chief Matthew and several consequential Indigenous leaders launched the ICIF, whose mission, vision, and value is to encourage and enable economic reconciliation through Indigenous-led investments.  With a minimum initial bank of $100 Million, the ICIF seeks to undertake investments in key areas in Canada, where benefit will be realized for and in all Indigenous lands and territories.

“Our Board has been looking for ways to augment and enhance our relationships with Canadian infrastructure companies on projects where we anticipate growth and benefit for Indigenous peoples.  We were very impressed with the clean energy innovations being realized by Worksport and Terravis Energy and are extremely excited for this partnership.  It is a perfect way for our Fund to begin bringing immense benefit to Indigenous communities, initially around Cochrane, ON.  We look forward to working with their teams and expand with them as we grow,” states Chief Keith Matthew, ICIF Chairman of the Board.

Chief Matthew also holds an influential role on the Western Indigenous Pipeline Group (WIPG) and First Nations Energy, wherein he has learned of the needs and desires of his fellow Indigenous peoples, including full-scale implementation of reliable and clean energy infrastructure for local healthcare hubs, vertical farming, cryptocurrency mining farms, and other infrastructure projects.

“We welcome these opportunities to showcase our expertise and capabilities in providing the critical clean energy infrastructure with necessary scalability to power such meaningful hubs of collaboration for economic empowerment of Indigenous peoples,” states Lorenzo H. Rossi, CEO of Terravis Energy.

Terravis MicrogridTM systems from Worksport subsidiary Terravis Energy will initially provide 50-60MW of power for the first project in Cochrane and will be scalable to support necessary increased power requirements.  Company management estimates the Terravis MicrogridTM systems to be long-term, long-standing investments by local partners, project developers, and the ICIF, with each party working together to set standards in sustainable energy.

“We are keen to undertake these massive programs with Chief Matthew and Indigenous peoples.  Our teams at Worksport and Terravis Energy have decades of expertise in renewable energy systems, hydrogen fuel cell technology, and high power energy storage systems.  The gravity and potential of these particular types of projects will, without a doubt, position Canada and its Indigenous peoples as first beneficiaries of communities-wide, scalable, sustainable energy infrastructure and smart grid development, made possible by our powerhouse subsidiary Terravis Energy,” states Steven Rossi, CEO of Worksport.

About Worksport Ltd.

Worksport Ltd. (Nasdaq: WKSP), 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 and investors.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 or investors.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) 554-8789
E: investors@worksport.com
W: 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: a delay in the production of the T3 tonneau cover, supply chain delays, acceptance of our T3 tonneau cover and other 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 The Company encourages you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements contained in this press release. 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.

Invest in Innovation

Nasdaq: WKSP

Starting as a producer of truck bed tonneau covers for pickups in the United States and Canada, Worksport has since evolved to position itself as an innovator in the automotive aftermarket.

Top Product: SOLIS Solar Cover & COR Battery

Key Innovations: Extra mileage EV Pickups OffGrid Mobile Power from the Sun.

Usability: For both EV Pickups & Petrol Pickups COR Battery with or without pickup

Other Products: Regular Hard and Soft-Folding Covers

WORKSPORT’S SOLIS & COR

Worksport SOLIS and COR provide an adaptable power source for off-grid power. Not just another battery, these powerhouses work in unison to offer continuous clean, rechargeable power from the sun. COR has a fully replaceable system that allows you to swap a depleted battery for a fresh one without losing juice. SOLIS charges batteries to be ready for the exchange.

The truck bed power system

Worksport’s truck bed power system kit will come with COR (which includes one hub inverter and one battery), SOLIS Folding Solar Tonneau Cover, rail mounting system, MPPT (solar charge controller), and all cables necessary.

Be the first to know the latest Worksport news

WORKSPORT IN THE MEDIA

When an offering gets this much attention it is a sign to stand up and take notice. Some of the biggest names in Cleantech are talking Worksport.

WORKSPORT’S SOLIS & COR

Worksport SOLIS and COR provide an adaptable power source for off-grid power. Not just another battery, these powerhouses work in unison to offer continuous clean, rechargeable power from the sun. COR has a fully replaceable system that allows you to swap a depleted battery for a fresh one without losing juice. SOLIS charges batteries to be ready for the exchange.

The truck bed power system

Worksport’s truck bed power system kit will come with COR (which includes one hub inverter and one battery), SOLIS Folding Solar Tonneau Cover, rail mounting system, MPPT (solar charge controller), and all cables necessary.

Be the first to know the latest Worksport news

WORKSPORT IN THE MEDIA

When an offering gets this much attention it is a sign to stand up and take notice. Some of the biggest names in Cleantech are talking Worksport.

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