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