Cheelcare Announces Results of 2025 Annual General and Special Meeting

VANCOUVER, BC, Oct. 7, 2025 /CNW/ - CHEELCARE INC. ("Cheelcare" or the "Corporation"), formerly Departure Bay Capital Corp. is pleased to announce that Cheelcare shareholders (the "Shareholders") approved all matters voted on at the annual general and special meeting of Shareholders held on September 29, 2025, including:

• Setting the number of directors at seven (7);
• Election of Dmitry Paltsev, Yevgeny Cherny, Roy Ellis, Trevor Treweeke, Maxime Lemieux, Sheila Buck and Marc Kazimirski as directors of Cheelcare;
• Appointment of SRCO Professional Corporation as auditors;
• Adoption of the new 10% "rolling" Stock Option Plan; and
• Continuance of the Corporation from the provincial jurisdiction of the Business Corporations Act (British Columbia) to the federal jurisdiction of the Canada Business Corporations Act.

Grant of options

The Corporation is also please to announce that it has granted 200,000 stock options (each, an "Option") to purchase up to 200,000 common shares ("Common Shares") of the Corporation to independent directors of the Corporation under the Corporation's stock option plan (the "Plan"). The Corporation granted 50,000 Options to Roy Ellis, 35,000 Options to Maxime Lemieux, 35,000 Options to Sheila Buck, 35,000 Options to Marc Kazimirski, and 45,000 Options to Trevor Treweeke.

The Options are exercisable at a price of $0.95 per Common Share until October 7, 2030, subject to any earlier termination in accordance with the Plan. All Options will vest in equal basis every 3 months over the period of 24 months from the date of grant. All Options and the Common Shares underlying such Options are subject to a hold period of four months and one day from the date of issuance.

About Cheelcare Inc.

Cheelcare is a forward-thinking assistive technology company founded out of a personal commitment to improve the lives of individuals with physical disabilities. Recognizing a gap in the market for mobility devices that combine advanced functionality with modern, dignified design, Cheelcare is dedicated to creating products that empower users and enhance their quality of life. The company develops, manufactures, and distributes three innovative lines of assistive mobility devices: robotic complex rehab power wheelchairs, the Companion line of power add-ons for manual wheelchairs, and a range of essential wheelchair accessories.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Cheelcare Inc.

For more information about Cheelcare, please contact Eugene Cherny, Chief Executive Officer, by email at [email protected].