Worksport regains Nasdaq $1 bid price, reports 35% May gross margin, $36M+ revenue run-rate target

Worksport Ltd

Stock closed above $1.00 on June 24, regaining Nasdaq minimum bid price compliance; increased 75% in 5 trading days.
Preliminary May gross margin of ~35%, up ~660 bps from Q1's 28.4%, despite aluminum inflation.
Meyer Distributing added as national partner; Worksport projects $36M+ annual revenue run-rate, current run-rate $21M+.
CEO Rossi elected to receive shares in lieu of cash compensation; completed two direct investments including premium-priced one.
Live investor town hall scheduled for June 30 at 12:05 PM ET with CEO Rossi.

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