Worksport Ltd.Nullification Option Agreement • July 28th, 2021 • Worksport LTD • Motor vehicle parts & accessories • New York
Reference is made to that certain Subscription Agreement, dated February 22, 2021 (the “SPA”), between Worksport Ltd., a Nevada corporation (the “Company”) and Platinum Point Capital, LLC, the purchaser thereunder (the “Purchaser”) and a Nullification Option Agreement dated February 22, 2021 (the “Nullification Option”). Under the SPA, Purchaser purchased 5,000,000 (five million) units from the Company (“Units”). Each Unit was purchased at a price of $0.10 per Unit. Each Unit is comprised of one share of common stock, par value $0.0001 (a “Common Stock”), and one purchase warrant (“Warrant”) to purchase two additional shares of Common Stock (each, a “Warrant Share”) at an exercise price of $0.20 USD per Warrant Share.
