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Cheelcare Inc. ( (TSE:CHER) ) just unveiled an announcement.
Cheelcare Inc., a Canadian maker of advanced mobility devices such as power-assist systems and robotic complex-rehab wheelchairs, focuses on empowering independence for people with disabilities through specialized assistive technologies. The company serves the disability and rehabilitation markets with engineered products tailored to improve users’ quality of life.
Cheelcare has arranged a non-brokered unsecured promissory note financing of up to $1 million with Pathfinder Asset Management and NameSilo Technologies, bearing 12% annual interest over 18 months, to fund working capital, inventory, manufacturing and general corporate purposes. As part of the deal, the lenders will receive 132,450 bonus shares priced off the recent market close, with the transaction subject to standard regulatory approvals and no finder’s fees, underscoring Cheelcare’s effort to strengthen its balance sheet and support ongoing production and growth without intermediary costs.
More about Cheelcare Inc.
Cheelcare Inc., listed on the TSX Venture Exchange, designs and manufactures advanced mobility solutions for people with disabilities. Its portfolio includes Companion power-assist devices and the Curio robotic complex-rehab power wheelchair, targeting the assistive technology and rehabilitation equipment market with a focus on engineering-led, human-centered design.
Average Trading Volume: 27,236
Technical Sentiment Signal: Buy
Learn more about CHER stock on TipRanks’ Stock Analysis page.