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 19th, 2020 Franchise Holdings International (“FNHI”) issued a press release announcing that it has completed its investment in Dayhaps Inc, a U.S Based technology and app development company. Franchise Holdings International has been issued 10% ownership position in the Dayhaps Inc. Dayhaps Inc, a rapidly growing and popular technology company, has a an application with a growing user base across 173 countries, available on Android and Apple platforms. A web-based version for PC’s is currently in late-stage development, expected to begin beta-testing in Q2, 2020. 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 19, 2020
Franchise Holdings International, Inc. | ||
/S/ Steven Rossi | ||
By: | Steven Rossi | |
Title: | Chairman of the Board, Chief Executive Officer |
Exhibit 99.1
Franchise Holdings International completes investment in U.S Based Technology Company Dayhaps Inc.
Receives a 10% equity position in a thriving mobile and desktop application developer to Accelerate Growth.
TORONTO, CANADA, February 19, 2020 — Franchise Holdings International (OTCQB: FNHI), is pleased to announce that is has received a 10% equity position in US based Technology company Dayhaps Inc. Dayhaps is a US based software development company that has launched an effective and simple shareable group calendar application in the productivity space. Dayhaps Calendar has been said to be similar, in simplicity and design, to WhatsApp, a well know success story. Essentially “a WhatsApp for calendars”, Dayhaps users can create simple group calendars, share, and easily add or invite members using their mobile phone number. The app is currently available in 6 languages, and has a rapidly expanding user base in over 173 countries around the world. Dayhaps is available for Android (Google Play Store), iOS (Apple App Store). Dayhaps Inc is also working towards releasing a desktop web-pasted platform, which will offer seamless streamlining the app across Computer, Tablet, and Mobile Phone platforms.
Franchise Holdings International will not participate in the company’s management, this is a passive long-term investment. However, FNHI had the opportunity to be part in this while maintaining focus on Worksport covers. “We believe this is a great opportunity for us to gain extra value for the company, its shareholders, and have direct access to software developers,” said Worksport and FNHI CEO Steve Rossi. “We have been working on strategies to find vertical integrations for the impressive skillsets now available to us from the Dayhaps team”.
Several calendar apps have been acquired recently. Sunrise, a similar calendar, was acquired by Microsoft Corporation for over $100 Million USD according to Techcrunch. Beside Microsoft; Salesforce and Alphabet have also made sizeable investments in acquisitions within the shared calendar space.
The calendar space was often focused on individual and simple use. However, where the team of Dayhaps takes a different approach is in providing a group calendar app. This social aspect has given Dayhaps the ability to grow virally which seems to be a huge advantage for the platform and its bright future.
Franchise Holdings International, and its management, are proud to be part of this amazing company and expect to benefit from the company’s strategic positioning.
“We have never met a harder working and more innovative team, than the development and management team at Dayhaps,” Rossi said. “The team works long hours and has some amazing developments forthcoming. We anticipate our equity position to be of considerable value in the future, as this space has seen multiple acquisitions, some above $100 Million”.
About Worksport:
Worksport Ltd. is a fully owned subsidiary and the current lead investment of FNHI. Worksport is a manufacturer of high quality, cost effective tonneau covers and accessories for trucks. It designs and produces hard-working and affordable pick-up truck gear for both work and sport. The company’s product line is versatile and future-focussed, meeting a substantial need within the market. Worksport offers traditional products that are both affordable and dependable, while also offering innovative and sophisticated variations that the pick-up truck market currently lacks. Worksport currently serves customers in Canada and the United States. For more information 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 segments, creating shareholder value in the process. Once a business of interest is acquired, FNHI’s mission is to further develop and accelerate the growth for all acquired subsidiaries. Currently the Corporation has one fully owned subsidiary, Worksport Ltd. For more information visit www.FranchiseHoldingsInternational.com. Please view the FNHI investor presentation here.
Contact:
Mr. Steven Rossi
CEO & Director
Franchise Holdings International.
T: 1-888-554-8789
E: Investors@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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