Toronto, Ontario, Oct. 23, 2018 (GLOBE NEWSWIRE) -- Franchise Holdings International Inc., (OTCQB: FNHI) (“FHI” or the “Corporation”) Worksport Ltd.’s parent company, has proudly submitted its Non-Offering Prospectus (“NOP”) to the Ontario Securities Commission to apply for a Canadian Stock Exchange besides the current OTCQB listing.
Filing the Corporation’s NOP occurs so that it can attempt to qualify as a Ontario reporting issuer. Becoming a reporting issuer, a mandatory regulatory requirement, enables the Corporation’s regulatory clearance in listing its common shares on a Canadian Stock Exchange. Should the OSC approve FHI’s NOP, and grant FHI clearance in becoming an issuer, FHI will then immediately apply to list its common shares on the Canadian Securities Exchange (“CSE”).
“We are very optimistic that FHI could obtain reporting issuer status before the end of Q4 2018, with a CSE listing occurring in early Q1 2019,” FHI CEO and director Steven Rossi stated. ”Management also strongly feels that obtaining a CSE listing will provide prospective Canadian-based investors increased transparency. It also affords our existing Canadian investors increased liquidity by being dual listed on a Canadian Stock Exchange. A CSE listing perfectly complements our existing OTCQB status. It is the next logical step in building both Worksport Ltd. and FHI into world-class companies for shareholders.”
About Worksport Ltd
Worksport Ltd., a fully owned subsidiary of Franchise Holdings International. Inc., is an innovative manufacturer of high quality, functional, and aggressively priced tonneau/truck bed covers for light trucks like the F150, Sierra, Silverado, Canyon, RAM, and Ford F-Series. For more information please visit www.worksport.com
About Franchise Holdings International
Listed on the OTCQB Market under the trading symbol “FNHI” and currently in the process of a dual listing on a Canadian Stock Exchange, Franchise Holdings International’s strategy is to acquire business in the fastest growing business segments and to create shareholder value in the process. Once a business of interest is acquired, our mission is to further develop and accelerate the growth for all of our acquired subsidiaries. Currently the Corporation has one fully owned subsidiary, Worksport Ltd.
Forward-Looking Statements
This document may contain forward-looking statements, relating to Franchise Holdings International Inc. operations or to the environment in which it operates, which are based on Franchise Holdings International Inc. operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Franchise Holdings Internationals Inc.’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Franchise Holdings International Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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