Jo-Jo Capital Canada Ltd.'s letter of intent for a proposed transaction with 9302204 Canada Inc. (operating as Cheelcare), as announced on Jan. 24, 2024, has been terminated.

Cheelcare remains steadfast in its mission to innovate and provide unparalleled solutions within the assistive mobility technology industry. "As we continue to raise funds for the next phase of growth, our focus is on securing opportunities with terms that align with our vision for sustainable expansion. Although the proposed transaction with Jo-Jo Capital Canada Ltd. did not proceed, we value their commitment and professionalism throughout the process." Eugene Cherny, CEO. Cheelcare looks forward to pursuing other strategic paths that enhance market position and drive positive outcomes for customers.

Jo-Jo Capital will continue to seek a qualifying transaction, in accordance with the policies of the TSX Venture Exchange, and will provide further updates in due course. Trading in the common shares of the company was halted as of Jan. 24, 2024, in connection with the execution of a letter of intent with Cheelcare. The company will seek to resume trading as soon as possible.

About Jo-Jo Capital Canada Ltd.

The corporation is a capital pool company (CPC) that has not commenced commercial operations and has no assets, other than cash. Except as specifically contemplated in the TSX-V's CPC policy, until the completion of its qualifying transaction, the corporation will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.

About Cheelcare

Cheelcare is a canadian-based leader in innovative mobility solutions, providing advanced power add-ons and assistive devices to enhance independence for wheelchair users. With cutting-edge robotics and user-focused design, Cheelcare’s products, like the Companion power assist, offer greater freedom and control.