UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
February 12, 2020
FRANCHISE HOLDINGS INTERNATIONAL, INC.
(Exact Name of Registrant as Specified in its Charter)
Nevada | 000-27631 | 65-0782227 | ||
(State
of incorporation) |
(Commission
File Number) |
(IRS
Employer Identification No.) |
3120 Rutherford Road
Suite 414
Vaughan, Ontario, Canada L4K 0B2
(Address of principal executive offices)
888-554-8789
(Registrant’s telephone number, including area code)
N/A
(Former Name or former address if changed from last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Common | FNHI |
OTC Markets |
Item 7.01 Regulation FD Disclosure
On February 12th, 2020 Franchise Holdings International (“FNHI”) issued a press release announcing that its wholly owed subsidiary Worksport, is to have its products distributed on the Amazon marketplace. The corporation is finalizing the terms of the distribution agreement in the coming weeks. A copy of the press release is attached hereto as Exhibit 99.1. The information in this Item 7.01 and the exhibit attached hereto are furnished to, but not filed with, the Securities and Exchange Commission.
Exhibit No. | Description | |
99.1 | Worksport Brand of Truck Bed Tonneau Covers to be Distributed by Amazon |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
February 12, 2020
Franchise Holdings International, Inc. | ||
/S/ Steven Rossi | ||
By: | Steven Rossi | |
Title: | Chairman of the Board, Chief Executive Officer |
Exhibit 99.1
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News Release |
Worksport Brand of Truck Bed Tonneau Covers to be Distributed by Amazon
In a year of multiple leaps forward for Worksport in intellectual property, access to Amazon marketplace is expected to be major development.
TORONTO – February 12, 2020 — Franchise Holdings International Inc., (OTCQB: FNHI) (or the “Company”) Worksport Ltd.’s parent company, expects to soon begin distribution of Worksport tonneau covers for the light truck market through the Amazon.com, Inc. Marketplace.
“In a year of major developments, such as three new granted U.S. patents in 2019, the new relationship with Amazon, a $282 billion company, is expected to start 2020 with another giant leap forward,” said Worksport and FNHI CEO Steve Rossi. “For Worksport to distribute our products in the U.S., our principal market, with one of the world’s greatest companies, is something about which we are incredibly proud and excited.”
Rossi believes the Amazon relationship will be a key driver in Worksport’s revenue growth and brand recognition in coming 12-24 months. Amazon ships an average of 608 million packages each year, which equates to (an estimated) 1,600,000 packages a day. “As any observer would realize, access to this channel is expected to mean a great deal to FHNI and Worksport,” Rossi said. “In a year in which importantly protected our valuable intellectual property, this development is like the icing on the cake, almost beyond our wildest imagination.”
Rossi added that when the partnership is completed and signed, Amazon will purchase and stock its products from Worksport and Worksport will set the Minimum Advertised Pricing (MAP) and monitor the price. Worksport is working to stock materially different and non competing model covers that are unique to Amazon as a way of protecting its many present dealers and distributors. “We will not sell the same light truck tonneau covers to two different markets,” Rossi said. “Both channels will be protected using exclusive product configurations.”
The terms of the agreement will be finalized over the coming weeks and the company expects to grow this relationship to global distribution in prime markets.
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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.