TORONTO, June 11, 2019 (GLOBE NEWSWIRE) -- Franchise Holdings International Inc., (OTCQB: FNHI) (or the “Corporation”) Worksport Ltd.’s parent company, warmly welcomed investors in a conference call, confirming that the company’s rotating order book has reached the $1 million range. FNHI and Worksport CEO Steven Rossi reviewed previously announced Q1 2019 results, which exceeded in one quarter all of 2018 revenues by 19% and reported year over year record sales growth of 282%. Worksport 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
Rossi outlined future goals, targets and funding, including new developments in its patent portfolio, plans to build and expand the newly secured Worksport brand and growth challenges and improvements in both product, design, and manufacturing facilities.
In the Q&A period, investors on the call asked questions about the company’s progress in obtaining its listing on the CSE and other senior exchanges, and whether or not the previously announced Gunpowder Capital (CSE: GPC) $240,000 CDN investment in FNHI would be deployed.
Rossi stated the company’s finances were in excellent condition to accomplish its ambitious goals and that the Gunpowder capital, while available, is not necessary at the present time to fund the company’s full order book and ambitious growth plans. “We still are aiming at becoming a $50-$100 million business and with our rapidly growing private label and branded distribution business, expanding patent portfolio and demonstrated excellence in innovative and proprietary products, we strongly believe that goal is attainable,” Rossi said. “The CSE listing grows closer, and the company has made significant progress in finalizing documents apply to becoming a Canadian reporting issuer.”
Rossi underlined the importance of the CSE listing by describing how “it would provide much needed transparency and growth capital.”
At the same time the Worksport CEO provided guidance that as with any year in any business, “There are peaks and valleys and ebbs and flows in growth plans.” Rossi was referring to challenges in manufacturing when the company changed made changes in its supply chain and improvements to its product designs.
Rossi expressed his great enthusiasm for Worksport’s future, given its progress on many fronts, including increasing sales and gross profits and reducing net losses so that they approach profitability. “We are going places fast,” Rossi said. “That should be evident to most investors, and we appreciate their patience and support and hope to provide the rewards they so richly deserve.”
To listen to the Worksport conference call, click here.
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.
For further information please contact:
Mr. Steven Rossi
CEO & Director
Franchise Holdings International.
T: 1-888-554-8789
E: Investors@franchiseholdingsinternational.com
Website: www.FranchiseHoldingsInternational.com
Forward-Looking Statements
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