Cheelcare Raises $1 Million in Unsecured Note Financing to Support Mobility Growth

Cheelcare Inc. ( (TSE:CHER) ) just unveiled an update.

Cheelcare Inc., a Canadian manufacturer of advanced mobility devices such as power assist systems and robotic complex-rehab wheelchairs, targets the disability market with engineering-focused, human-centered solutions designed to improve independence and quality of life for users.

The company has closed a $1.0 million offering of 12% unsecured promissory notes, subscribed entirely by Pathfinder Asset Management and NameSilo Technologies, to fund working capital, inventory, manufacturing, and general corporate needs. Cheelcare expects to service and repay the notes from operating cash flows and has issued 132,450 bonus common shares, equivalent to 20% of the notes’ principal value, to the lenders as equity sweeteners, strengthening its liquidity position without using convertible debt or paying finder’s fees.

More about Cheelcare Inc.

Cheelcare Inc., listed on the TSX Venture Exchange under the symbol CHER, is a Canadian designer and manufacturer of advanced mobility solutions for people with disabilities. Its portfolio includes Companion power assist devices and the Curio robotic complex-rehab power wheelchair, reflecting a focus on engineering-driven, human-centered products that enhance user independence and quality of life.

Average Trading Volume: 33,319

Technical Sentiment Signal: Buy

For an in-depth examination of CHER stock, go to TipRanks’ Overview page.