Markham, Ontario — February 18, 2026 — Leads & Copy — Cheelcare Inc. (TSXV: CHER), a Canadian innovator in advanced mobility solutions, announced today it has closed its previously announced offering of 12% unsecured promissory notes for aggregate gross proceeds of $1,000,000.
The offering was subscribed by Pathfinder Asset Management Ltd., which purchased $750,000 aggregate principal amount of notes, and NameSilo Technologies Corp., which purchased $250,000 aggregate principal amount of notes, (collectively, the lenders).
The principal balance of each note will be payable on August 11, 2027, provided that Cheelcare has the right to redeem and repay the notes after one year without notice, bonus, or penalty. The notes bear simple interest at a rate of 12% per annum, with interest payable semi-annually.
Cheelcare intends to use the net proceeds from the offering for working capital, inventory, product manufacturing activities, and general corporate purposes. The company expects to service interest obligations and repay the principal amount of the notes from cash flows generated from its operating activities.
In connection with the offering, Cheelcare issued an aggregate of 132,450 common shares of the company to the lenders. The bonus shares represent a value equal to 20% of the principal amount of the notes, calculated at a price of $1.51 per bonus share, which was the closing price of the company’s common shares on February 6, 2026, prior to the announcement of the offering.
The bonus shares are subject to a four-month hold period, expiring on June 19, 2026, in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange. Other than the issuance of the bonus shares, all amounts payable in respect of the notes, including principal and interest, will be made in cash. The notes are not convertible into securities of Cheelcare.
No finder’s fees or commissions were paid in connection with the offering. The lenders are arm’s length parties to the company.
Cheelcare designs and manufactures innovative mobility solutions that empower independence for people with disabilities. From the Companion power assist devices to the groundbreaking Curio robotic complex-rehab power wheelchair, Cheelcare combines engineering excellence with human-centered design to improve quality of life.
Source: Cheelcare Inc.
