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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Franchise Holdings International Inc    FNHI

FRANCHISE HOLDINGS INTERNATIONAL INC

(FNHI)
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WORKSPORT EXPANDS PORTFOLIO WITH U.S. PATENT GRANTED FOR HARD-FOLDING TONNEAU COVERS

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03/21/2019 | 07:02am EDT

Award is second FNHI patent, two reaching approval stage, five more to be applied for Three trademarks also sought

Toronto, Ontario, March 21, 2019 (GLOBE NEWSWIRE) -- Franchise Holdings International Inc. (OTCQB: FNHI), parent company of Worksport, the light truck cover manufacturer, has been awarded a U.S. patent for its innovative line of hard tonneau covers, with their unique smart storage systems. The patent is FNHI’s second U.S. approval, and all fees have been paid to the U.S. Patent Office. Two more are nearing approval, along with three trademark applications. In addition, five patents will be applied for in the foreseeable future.

“This amount of high-quality intellectual property is what distinguishes Worksport from nearly every company in the industry. Our product development is far more advanced. The patents awarded and applied for are as a result of technological advances in our future product offerings and proprietary designs that are already part of our tonneau cover line,” said FNHI CEO Steven Rossi. “FNHI expects to have in excess of ten patents within 2019.”

“The patents dramatically increase the company’s intellectual property value as they are enforceable and monetizable,” said Rossi.” “They also lead to significant upside revenue. Adding to our patents and trademarks is one of our most important strategies as we move forward to achieve our ambitious growth and profitability plans, which now look clearly attainable.”

Rossi said that Worksport expects to release up to three new tonneau cover versions in 2019. One is already on the market. “Progress in protecting our significant product innovations is one of the reasons both private label and our own sales channel customers are reaching out to us, increasing our orders exponentially over previous years,” Rossi said.

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

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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© GlobeNewswire 2019
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Managers
NameTitle
Steven Rossi President, CEO, Secretary & Director
Lorenzo Rossi Chairman
Michael Johnston Chief Financial Officer
Paul Haber Director
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