Source: PesoRama.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • PesoRama (PESO) has completed the first tranche of its previously announced non-brokered private placement
  • The company issued 5,939,333 units at a price of $0.15 per unit for gross proceeds of $890,899.95
  • It also received subscriptions for an additional $170,000, which the company expects to close shortly
  • The company plans to use the net proceeds for working capital and general corporate purposes
  • PesoRama, operating under the JOi Dollar Plus brand, is a Mexican dollar store retailer
  • PesoRama (PESO) was up 20.00 per cent, trading at $0.12 per share

PesoRama (PESO) has completed the first tranche of its non-brokered private placement.

The company issued 5,939,333 units at a price of $0.15 per unit for gross proceeds of $890,899.95. PesoRama also received subscriptions for an additional $170,000, which the company expects to close shortly.

Between the offering and the additional subscriptions, insiders or immediate family members have subscribed for $327,500.

The company also anticipates a further closing of units on or before January 20, 2023 for up to an additional $1.5 million.

Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.30 for a period of three years from the closing date of the offering.

The company plans to use the net proceeds for working capital and general corporate purposes.

The offering constituted a “related-party transaction” as defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (MI 61-101), as insiders of the company subscribed for 2,183,333 units.

PesoRama, operating under the JOi Dollar Plus brand, is a Mexican dollar store retailer in the following categories: household goods, pet supplies, seasonal products, party supplies, health and beauty, snack food items, confectionery and more.

PesoRama (PESO) was up 20.00 per cent, trading at $0.12 per share at 2:13 pm ET.


More From The Market Herald

" Osisko Metals (TSXV:OM) invites investors to join them at the Vancouver Resource Investment Conference

Osisko Metals (OM) invites investors to attend the Vancouver Resource Investment Conference (VRIC).

" Plurilock (TSXV:PLUR) appoints Blake Corbet to its Board of Directors

The duo-listed cybersecurity solutions provider, Plurilock Security (PLUR), appoints Blake Corbet to its Board of Directors.

" Current Water Technologies (TSXV:WATR) signs agreement with Singapore-based Separtis Technologies Global

Current Water Technologies (WATR) has established a binding memorandum of agreement with Separtis Technologies Global Pte Ltd of Singapore.

" St Charles Resources (TSXV:SCRS.P) signs new agreement for qualifying transaction with Eastern Resources OOD

St Charles Resources (SCRS.P) has signed a business combination agreement with Eastern Resources OOD Eastern Resources.