Worksport raises ~$6.4M in warrant inducement; holder exercises 2.19M shares at $2.90, gets new warrants at $3.00

Worksport Ltd

Holder exercises existing warrants for 2,194,526 shares at reduced price of $2.90/share, yielding ~$6.4M gross proceeds.
Company issues inducement warrants to purchase up to 3,840,421 shares at $3.00/share, exercisable after 6 months, term 5.5 years.
Engaged Maxim Group LLC as exclusive placement agent; closing expected December 12, 2025.
Company agrees to file resale registration statement for new warrant shares within 60 days.
Company agrees to no further equity issuances or Variable Rate Transactions for 60 days and 6 months respectively.

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