- 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.