Cheelcare Raises C$3.0 Million in Private Placement of Share Units

Cheelcare (CHER.V) has closed its private placement offering of share units, raising C$3.0 million. Cheelcare, which manufactures medical mobility equipment, doubled the offering size from the initial C$1.5 million. A total of 2 million shares and 1 million warrants were issued. Each warrant entitles the holder to acquire an additional share at an exercise price of $2.25 for 24 months, a statement said. Proceeds will be used for general working capital and corporate purposes.