Toronto, Ontario, Jan. 07, 2019 (GLOBE NEWSWIRE) -- Franchise Holdings International Inc., (OTCQB: FNHI) (or the “Corporation”) Worksport Ltd.’s parent company, welcomed investors in a conference call and reviewed the year past and looked ahead to many positive developments in 2019. These include significant progress with its Non Offering Prospectus, required for a Canadian Stock Exchange (CSE) listing. FNHI also disclosed a healthy order book approaching $1 million for its high quality, functional, and aggressively priced tonneau/truck bed covers for the light truck market.
Describing the anticipated CSE listing a “massive milestone” for the company, elevating it to the “upper echelon of reporting issuer status,” Worksport and FNHI CEO Steve Rossi said that the company responded in December to a second set of 18 questions from the exchange. “If there are no more questions to be answered, then we become a reporting issuer and apply for a CSE listing,” Rossi said. “This would expose Worksport to a huge pool of sophisticated Canadians seeking to invest in growth companies. It also provides much needed transparency and growth capital. A dual CSE listing perfectly complements our existing OTCQB status.”
Even so, the CSE listing is “just one part of FNHI’s over growth plan,” Rossi told investor call participants. Based on the $923,000 in orders on hand, at least half of which will be invoiced and shipped in Q1 2019, Worksport can reasonably expect monthly repeat orders in at least the $500,000 range, Rossi added.
Revenues in 2018 will mostly equal those in 2017, “a remarkable achievement,” Rossi said, as the Worksport brand and word mark could not be used until the latter part of 2018. “Changing a brand name is very complex but we executed efficiently and successfully,” Rossi told the conference. “Now have a more secure, better brand identity that closely matches our culture of entrepreneurs, do-it-yourselfers (DIY), small business owners and outdoors enthusiasts.”
Once the Worksport brand was fully in use, purchase orders of $600,000 for November exceeded the entire previous year’s orders. Rossi said the company continues “trending toward 2019 revenues of over US $5,000,000,” evidence that the Worksport is delivering on its ambitious growth plan.
In Part II of the FNHI investor conference recap, Rossi will discuss the company’s growth strategies and planned use of capital, including further development of its long-awaited advanced Helios tonneau covers.
Part I of the conference call can be listed to here: https://franchiseholdingsinternational.com/media/conference-calls/
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.
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