Cheelcare Announces $1.0 Million Unsecured Note Financing

Executive Summary

• Cheelcare Inc. entered term sheets with strategic investors for a non‑brokered unsecured promissory note financing of up to $1,000,000.
• The notes will carry an 18‑month term, 12% annual interest, and are payable at maturity with semi‑annual interest payments; the company may redeem after one year without penalty.
• As part of the transaction, the lenders will receive 132,450 bonus common shares (20% of principal amount ÷ $1.51 per share) subject to a four‑month hold period.

Key Details

• Investors / Lenders:
• Pathfinder Asset Management Ltd. – up to $750,000
• NameSilo Technologies Corp. – up to $250,000
• Notes Terms:
• Principal amount: up to $1,000,000 total
• Term: 18 months
• Interest rate: 12% per annum, payable semi‑annually
• Redemption: optional after 1 year, no notice, bonus or penalty required
• Bonus Shares:
• Calculation: 20% of principal amount ÷ $1.51 (closing price on Feb 6, 2026)
• Total shares to be issued: 132,450 common shares
• Hold period: four months from issuance, per Canadian securities law and TSX‑V regulations
• Use of Proceeds: Working capital, inventory, product manufacturing activities, and general corporate purposes.
• Closing Conditions: Subject to customary conditions including receipt of all required corporate and regulatory approvals (including TSX Venture Exchange approval).
• Fees: No finder's fees or commissions payable; lenders are arm’s‑length parties.

Notable Quotes

(No direct quotes were included in the release.)