Cheelcare Inc. (TSXV: CHER | OTC: CHCRF), a Markham, Ontario-based innovator in advanced mobility solutions, has announced the departure of co-founder Dima Paltsev, who completed his transition of executive responsibilities effective November 1, 2026, and will conclude his service on the Board of Directors at the Annual General Meeting on November 13, 2026. Paltsev is departing to pursue an independent robotics venture outside the assistive mobility sector. The announcement also reveals a framework for a commercial relationship and technology licensing arrangement between Cheelcare and Paltsev's new venture, a detail investors may be watching closely.

Key Points

  • Cheelcare Inc. (TSXV: CHER | OTC: CHCRF) announced the departure of co-founder and Director Dima Paltsev
  • Paltsev's executive responsibilities transitioned effective November 1, 2026; Board departure follows at the AGM on November 13, 2026
  • Cheelcare retains full ownership of its intellectual property and all core mobility business rights under the separation agreement
  • Investors may watch for further details on royalty revenue potential from the technology licensing framework with Paltsev's new venture

Paltsev's Transition and Separation Agreement Terms

The departure follows a mutually agreed separation and transition agreement. Under its terms, Cheelcare has established a framework for licensing certain company-owned technology for applications outside the assistive mobility sector. Critically, Cheelcare retains ownership of the underlying intellectual property and all rights related to its core mobility business. The agreement also preserves the opportunity for Cheelcare to generate future royalty revenue from commercial applications of that licensed technology in other industries, though specific financial terms were not disclosed in the announcement.

Leadership Comments on Paltsev's Contributions Since 2015

CEO Eugene Cherny acknowledged Paltsev's role since co-founding Cheelcare in 2015, citing his contributions to the company's development, financing, and transition to the public markets. Cherny stated the transition was carefully planned with no disruption to team operations, and noted the company continues to advance the commercialisation of its Companion and AWARE products alongside its Curio robotic complex-rehab power wheelchair. Chairman Roy Ellis also commented, affirming that the board remains focused on supporting management's execution of its mobility solutions strategy.

Cheelcare's Retained IP Position and Core Mobility Focus

The release emphasises that Cheelcare's intellectual property ownership remains intact following the separation. The company designs and manufactures mobility solutions including Companion power assist devices and the Curio robotic complex-rehab power wheelchair, targeting independence for people with disabilities. By retaining core IP rights while establishing a licensing framework for non-competing applications, the disclosure suggests the company is attempting to preserve strategic focus while creating a secondary revenue opportunity. The immediate share price impact was not clear from available public information.