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Financings Routine +

Cheelcare Announces Upsizing of Non-Brokered Private Placement to $3.0 Million

By The Northwire Desk — AI Analysis Jun 18, 2026 · 07:31 CHER · 1.53 Cheelcare Inc.
CHER · Price

Executive Summary

  • Cheelcare Inc. has increased the size of its previously announced non-brokered private placement financing due to strong investor demand.
  • The offering will issue up to 2,000,000 units at $1.50 per unit, raising up to $3,000,000 in aggregate gross proceeds.
  • Proceeds will be directed toward general working capital, product development, and commercialization, with expected participation from company insiders.

Key Details

  • Financing Structure: Non-brokered private placement offering.
  • Units & Price: Up to 2,000,000 units at $1.50 per unit.
  • Gross Proceeds: Up to $3,000,000.
  • Warrant Terms: Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional share at $2.25 per share for a period of two years from the date of closing.
  • Warrant Acceleration Clause: If the TSXV closing price equals or exceeds $3.00 for 10 consecutive trading days, the Company may accelerate the warrant expiry to 30 days after providing notice or issuing a press release. Any unexercised warrants will automatically expire without compensation.
  • Use of Proceeds: General working capital and corporate purposes, including continued product development and commercialization activities.
  • Related Party Transaction: Expected participation from directors, officers, and insiders. The Company will rely on MI 61-101 exemptions (Sections 5.5(a) and 5.7(1)(a)) as the fair market value of securities issued to insiders is not expected to exceed 25% of the Company's market capitalization.
  • Closing Conditions: Subject to acceptance by the TSX Venture Exchange and other customary closing conditions.
  • Hold Period: Units and all underlying securities will be subject to a statutory hold period of four months and one day from their date of issue.
  • Finder's Fees: The Company may pay finder's fees in connection with certain subscriptions, in accordance with TSX Venture Exchange policies.
Read the original news release →

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