Markham, Ontario--(Newsfile Corp. - February 18, 2026) - Cheelcare Inc. (TSXV: CHER) ("Cheelcare" or the "Company"), a Canadian innovator in advanced mobility solutions, today announced that it has closed its previously-announced offering of 12% unsecured promissory notes (the "Notes") for aggregate gross proceeds of $1,000,000 (the "Offering").
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 the Company shall have the right to redeem and repay the Notes after one (1) year without notice, bonus, or penalty. The Notes bear simple interest at a rate of 12% per annum, with interest payable semi-annually. The Company 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, the Company issued an aggregate of 132,450 common shares of the Company (the "Bonus Shares") 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.
About Cheelcare Inc.
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. For more information, please visit: www.cheelcare.ca.
For further information, please contact:
Allex Laurin, Director of Marketing
Cheelcare Inc.
Tel: 1-888-948-2680 x200
Email: alaurin@cheelcare.com
This news release may contain forward-looking statements. Forward-looking statements are based on current expectations and involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those expressed or implied. Such factors include, but are not limited to, general economic conditions, market demand, supply chain disruptions, and regulatory approvals. Any forward-looking statements are made as of the date of this news release, and the Company does not undertake to update any forward-looking statements except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284246
