Cheelcare Closes $1.0 Million Unsecured Note Financing

Executive Summary

• Cheelcare Inc. closed its previously‑announced offering of 12% unsecured promissory notes, raising $1,000,000 in gross proceeds.
• The notes were purchased by Pathfinder Asset Management Ltd. ($750,000) and NameSilo Technologies Corp. ($250,000); they bear simple interest at 12% per annum, payable semi‑annually, with principal due August 11 2027.
• As part of the transaction, Cheelcare issued 132,450 bonus common shares (valued at 20% of the note principal) subject to a four‑month hold period; proceeds will be used for working capital, inventory, product manufacturing and general corporate purposes.

Key Details

• Offering Size: $1,000,000 aggregate gross proceeds.
• Note Terms:
• Unsecured promissory notes, 12% simple annual interest, semi‑annual interest payments.
• Principal repayment due August 11 2027; company may redeem after one year without penalty.
• Investors:
• Pathfinder Asset Management Ltd. – $750,000 principal amount.
• NameSilo Technologies Corp. – $250,000 principal amount.
• Bonus Shares:
• 132,450 common shares issued to lenders (20% of note principal value).
• Valued at $1.51 per share (closing price on Feb 6 2026).
• Subject to a four‑month hold period expiring June 19 2026.
• Use of Proceeds: Working capital, inventory acquisition, product manufacturing activities, and general corporate purposes.
• Repayment Source: Expected cash flows from operating activities.
• No Finders’ Fees/Commissions: None paid; lenders are arm’s‑length parties.

Notable Quotes

(No executive quotes were included in the release.)