Worksport Ltd 10-K

ITEM 2. PROPERTIES We lease approximately 2,155 square feet for our secondary executive offices located at 3120 Rutherford Road, Suite 414, Vaughan, ON L4K 0B2, Canada pursuant to a three year lease, dated August 1, 2019 for approximately $1,712.09 USD per month. This office has been used as our primary mailing address, although this may change as we settle into our other properties. While this office meets our current needs, we may not need it once the lease expires. We additionally have a three year lease for approximately 55,000 square feet for R&D space and additional offices located at 7299 E Danbro Crescent, Mississauga, ON L5N 6P8, Canada pursuant to a three year lease, dated April 16, 2021 and terminating on May 31 st of 2024 for approximately $21,300 USD per month. This facility is being used primarily for R&D purposes as well as corporate offices. This facility meets our R&D needs. We are in the process of purchasing an approximately 222,000 square foot facility located at 2500 N America Dr., West Seneca, NY 14224 to serve as our new OEM manufacturing facility. This facility includes a current tenant to whom we will continue leasing 35,000 square feet for $22,000 USD per month. This facility meets our OEM manufacturing needs both now and in future years, as the facility contains ample space in which to grow.