Source: PesoRama.
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  • PesoRama Inc. (PESO) has closed a non-brokered private placement raising gross proceeds of $2,664,040
  • The company issued a total of 17,760,264 units  at a price of $0.15 per unit
  • PesoRama operates as Mexico’s only dollar store retailer under the JOi Canadian Stores brand
  • PesoRama Inc. (PESO) opened trading at C$0.14

PesoRama Inc. (PESO)  has closed its previously announced non-brokered private placement.

Due to investor demand, the offering was increased. The company issued a total of 17,760,264 units at a price of $0.15 per unit for gross proceeds of $2,664,040.

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

Warrants are subject to an acceleration clause.

In connection with the offering, the company paid eligible persons a cash commission totalling $102,804.65 and 685,365 finder warrants.

All securities issued will be subject to a statutory hold period of four months. Net proceeds will be used for working capital and general corporate purposes.

PesoRama, operating under the JOi Dollar Plus brand, is a Mexican value dollar store retailer. PesoRama launched operations in 2019 in Mexico City and the surrounding areas targeting high-density, high-traffic locations. PesoRama’s 21 stores offer household goods, pet supplies, seasonal products, party supplies, health and beauty, snack food items, confectionery and more.

Pesorama Inc. (PESO) opened trading at C$0.14.


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