Exhibit 99.1
Worksport
(NASDAQ: WKSP) Regains $1 Bid Price Requirement, Announces CEO Town Hall, Highlights Multiple Recent Growth Drivers in CEO Letter
CEO
Shares Letter to Shareholders, inviting them to attend the townhall; Management to discuss Nasdaq bid price compliance, 35%
May gross margin, Meyer Distributing, $36M+ revenue run-rate target, direct investments, insider alignment, NEXUS traction, Terravis
Energy, and the Company’s 2026 execution plan.
The
live event will provide shareholders an opportunity to hear directly from CEO Steven Rossi and ask questions about Worksport’s
business momentum and long-term value creation strategy.
West
Seneca, New York, June 25, 2026 — Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”), a U.S.-based
innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods
markets, today announced that its common stock closed above $1.00 on June 24, 2026, which the Company believes keeps Worksport in full
compliance with Nasdaq’s minimum bid price requirement, and represents a 75% increase in 5 trading days.
The
Company also announced that it will host a live investor town hall on Tuesday, June 30, 2026, at 12:05 p.m. Eastern Time. The
town hall will provide shareholders, prospective investors, analysts, media, and other interested parties an opportunity to hear directly
from Founder and Chief Executive Officer Steven Rossi regarding Worksport’s recent business developments, current execution priorities,
and the Company’s strategy for the second half of 2026 and beyond.
Link
to register for townhall: Register to WKSP’s June Townhall Here
| ● | https://us06web.zoom.us/webinar/register/WN_DzpmKu68RSuvtj5pbnAbYQ |
Worksport
encourages shareholders, prospective investors, analysts, media, and other interested parties to attend.
Management
believes the upcoming town hall comes at an important moment for Worksport. Over the past several weeks, the Company has announced multiple
developments that are believed to support a stronger operating foundation, improved market positioning, and an increasingly visible path
toward operational cash flow positivity:
| ● | Operational
progress: Worksport announced preliminary May 2026 gross margin of approximately
35%, up ~660 basis points from 28.4% in Q1 2026, reflecting continued manufacturing
efficiency, pricing discipline, and operating leverage, despite domestic inflation of aluminum,
a core component of its tonneau covers. |
| ● | Distribution
expansion: The Company announced Meyer Distributing as a new national distribution
partner, expanding Worksport’s access to a broader base of dealers, installers,
and aftermarket resellers across North America. |
| ● | Revenue
opportunity: Worksport is projecting a $36+ million 12-month annual run rate target
supported by B2C activity, expanding B2B distribution, new product launches, and channel
ramp-up. Current 2026 revenue run-rate is growing healthily, at $21+ million. |
| ● | Premium-priced
capital: The Company recently completed two direct investments, including one priced
at a premium to then-recent trading levels, while also receiving expressed investor interest
in evaluating additional financing of up to $10 million, subject to customary conditions. |
| ● | Insider
alignment: On June 9, 2026, Founder and CEO Steven Rossi elected to receive additional
Company shares in lieu of cash compensation, the second time this year, reinforcing his
stated confidence in Worksport’s long-term value creation opportunity. |
CEO
Letter to Shareholders
“Over
the last several weeks, Worksport has released some of the most important updates in our Company’s recent history,”
said Steven Rossi. “We achieved a preliminary 35% gross margin in May, setting a new record, added Meyer Distributing as a major
multi-national master distribution partner, outlined a $36+ million annualized revenue opportunity, secured premium-priced capital, and
saw our shares close back above $1.00 on June 24. We believe these are meaningful milestones, and shareholders deserve a clear explanation
of how they connect.”
Mr.
Rossi continued, “Nasdaq compliance is important, but our deeper focus remains on building the business behind the ticker. Worksport
today is operating from a much stronger foundation than it was one year ago: margins have improved, distribution is expanding, B2C
demand remains active, B2B channels are growing, and our newly launched NEXUS tonneau cover is contributing to a broader commercial strategy.
We believe these are the ingredients that can support our stated goal of achieving initial operational cash-flow positivity within
2026.”
“This
town hall is intended to be direct, transparent, and useful,” Mr. Rossi added. “It is the place for shareholders to ask
questions, hear from management, and better understand what we believe is ahead for Worksport. We intend to discuss our revenue trajectory,
margin growth, distributor onboarding, NEXUS traction, SOLIS and COR progress, OE-focused opportunities, and how we are evaluating
potential business development opportunities and accretive strategic synergies that could strengthen the Company’s platform
over time.”
Mr.
Rossi concluded, “Worksport’s objective is clear: grow revenue, expand margins, convert inventory, strengthen
distribution, continue advancing our intellectual property-backed product portfolio, and build long-term shareholder value.
We believe Worksport has entered an important inflection point, and we look forward to discussing that future with shareholders on June
30.”
Terravis
Energy and Broader Product Platform
In
addition to Worksport’s core tonneau cover, SOLIS solar cover, and COR portable power strategies, the Company continues to actively
develop its Terravis Energy subsidiary. Terravis remains focused on highly efficient heating and cooling technologies, including its
patented ZeroFrost™ heat-pump technology. Management currently expects product certification during the second half of
2026, subject to testing, certification timing, and other customary development considerations.
Worksport
believes its broader product platform, spanning truck accessories, solar integrations, portable energy systems, and clean heating and
cooling solutions, provides multiple long-term growth pathways. The Company expects to address these opportunities during the June 30
town hall.
Town
Hall Details
Date:
Tuesday, June 30, 2026
Time:
12:05 p.m. ET – 1:00 p.m. ET
Format:
Live Zoom town hall with CEO commentary and investor Q&A
Registration:
Click here to register for Worksport’s June 2026 Townhall
| ● | https://us06web.zoom.us/webinar/register/WN_DzpmKu68RSuvtj5pbnAbYQ |
Replay:
Recording expected to be available on investors.worksport.com
Investors
may submit questions in advance by emailing investors@worksport.com. Management expects to answer selected questions during the
live session, subject to time availability and public disclosure considerations.
Worksport
encourages shareholders, prospective investors, analysts, media, and other interested parties to attend.
Stay
tuned for more information and join our mailing list to stay up to date with the latest: Join Worksport’s Newsletter
Contacts
Investor
Relations, Worksport Ltd. T: 1 (888) 554-8789 ext. 128
W:
investors.worksport.com W: www.worksport.com E: investors@worksport.com
Connect
with Worksport Chief Executive Officer, Steven Rossi
Steven
Rossi X (Twitter)
Steven
Rossi LinkedIn
About
Worksport
Worksport
Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau
covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport’s hard-folding cover,
designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including
the electric vehicle (EV) sector. Worksport 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 Cold-Climate Heat Pump (CCHP) technology. Terravis Energy’s
website is terravisenergy.com.
Connect
with Worksport
Please
follow the Company’s social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube,
and Instagram, the links of which are links to external third-party websites, as well as sign up for the Company’s newsletters
at investors.worksport.com.
Social
Media Disclaimer
The
Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than
content published by the Company. Investors and others should note that the Company announces material financial information to our investors
using our investor relations website, press releases, Securities and Exchange Commission (“SEC”) filings, and public conference
calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors,
the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material
non-public information on social media. If there is any significant financial information, the Company will release it broadly to the
public through a press release or SEC filing prior to publishing it on social media.
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,”
“scheduled,” “expect,” “future,” “intend,” “plan,” “project,”
“envisioned,” “should,” or the negative of these terms and similar expressions, as they relate to us or our management,
identify forward-looking statements. These 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 situation 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: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to
sell our products; and (iv) 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 SEC,
including, without limitation, our latest Annual Report on Form 10-K and our 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. 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.
