Worksport Ltd 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds (a) Recent Sales of Unregistered Securities ● In February 2025, we issued warrants (“Inducement Warrants”) to purchase an aggregate of 1,424,500 shares to certain investors in exchange for them exercising warrants that were issued to them in May 2024 (the “May 2024 Existing Warrants”) at an exercise price of $5.198 per share. Each Inducement Warrant has an exercise price of $6.502 and is exercisable six months after issuance, or August 27, 2025, until the five and a half-year anniversary from the date of issuance. We received proceeds of $6,731,410 before deducting placement agent fees and other offering expenses payable by us upon the exercise of the May 2024 Existing Warrants ● In February 2025, the Company issued 1,000 restricted shares with a value of $82,100 to an investor relations consultant. ● In March 2025, we issued 10,000 stock options to a director with an exercise price of $5.95 and an expiration date of March 27, 2035. (b) Use of Proceeds Not applicable. (c) Purchases of Equity Securities by the Issuer and Affiliated Purchasers None. Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures Not applicable.