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Lucosky Brookman Represents Maxim Group LLC in Worksport Ltd.’s $4.7 Million Registered Direct Offering and Concurrent Private Placement

Lucosky Brookman LLP is pleased to are present Maxim Group LLC in a registered direct and private placement transaction with Worksport Ltd. (Nasdaq: WKSP; WKSPW). Worksport, a leading player in the automotive industry, has entered into a securities purchase agreement with a single institutional investor to procure 3,500,000 shares of common stock (or pre-funded warrants) in a registered direct offering. Simultaneously, Worksport has agreed to issue warrants for the purchase of up to 7,000,000 additional shares of common stock in a concurrent private placement.

The combined effective offering price for each share of common stock (or pre-funded warrant) and accompanying warrant is $1.34. The warrants will become exercisable six months from issuance, with an expiration period of five and a half years from the issuance date, and an exercise price of $1.34 per share.

The gross proceeds to Worksport from this dual offering are estimated to reach approximately $4.7 million before accounting for the placement agent's fees and other related offering expenses. The net proceeds generated from this offering will be allocated to support Worksport's working capital needs and general corporate purposes.

Maxim Group LLC acted as the sole placement agent in this transaction. Lucosky Brookman served as Underwriters Counsel to Maxim Group LLC on the transaction.