PesoRama Announces Closing of Oversubscribed Private Placement for Gross Proceeds of Over $10 Million

Rhea-AI Summary

PesoRama (OTC: PSSOF) closed an over‑subscribed non‑brokered private placement issuing 28,710,003 units at $0.35 per unit for aggregate gross proceeds of $10,048,501 on April 23, 2026. Each unit includes one common share and one half warrant exercisable at $0.50 for 36 months. Proceeds are earmarked for store expansion and general corporate purposes. The company paid aggregate cash finder's fees of $409,254. Securities are subject to a statutory hold period of four months plus one day and closing remains subject to TSXV final approval.

Positive

• Raised $10,048,501 gross proceeds
• Issued 28,710,003 units at $0.35 per unit
• Proceeds designated for store expansion and corporate purposes
• Warrants exercisable at $0.50 for 36 months

Negative

• Issued potential dilution via 28,710,003 new common shares
• Paid $409,254 in cash finder's fees
• Closing subject to TSXV final approval
• Securities subject to four months plus one day hold period

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Toronto, Ontario--(Newsfile Corp. - April 23, 2026) - PesoRama Inc. (TSXV: PESO) (OTC Pink: PSSOF) (FSE: ZE6) ("PesoRama" or the "Company"), a Canadian company operating dollar stores in Mexico under the JOi Dollar Plus brand, is pleased to announce, further to its news releases dated April 8 and April 9, 2026, that it has completed its previously announced over-subscribed non-brokered private placement and has issued 28,710,003 units (the "Units"), at a price of $0.35 per Unit, for aggregate gross proceeds of $10,048,501 (the "Private Placement").

Each Unit is comprised of one common share in the capital of the Company (each, a "Common Share") and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share (a "Warrant Share") at a price of $0.50 per Warrant Share for a period of 36 months from the date of issuance (such date of expiration, the "Warrant Expiry Date"). From today and until the Warrant Expiry Date, in the event that the volume-weighted average price of the Common Shares on a recognized Canadian stock exchange, which includes the TSX Venture Exchange ("TSXV"), is equal to or greater than $0.75 over a ten consecutive trading day period, the Company may, at its option, within ten business days following such ten-day period, accelerate the Warrant Expiry Date by issuing a press release (a "Warrant Acceleration Press Release"), and, in such case, the Warrant Expiry Date shall be deemed to be the date that is thirty days following the issuance of the Warrant Acceleration Press Release.

The gross proceeds raised from the Private Placement will be used for store expansion and general corporate purposes.

The Company also paid an aggregate of cash finder's fees of $409,254, of which Canaccord Genuity Corp. was paid $335,895 and Richardson Wealth Limited was paid $73,359.

All securities issued in connection with the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws. Closing of the Private Placement remains subject to the final approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the 1933 Act, or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

About PesoRama Inc.

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 35 stores offer consistent merchandise offerings which include items in the following categories: household goods, pet supplies, seasonal products, party supplies, health and beauty, snack food items, confectionery and more. For more information visit: http://pesorama.ca.

For further information please contact:

Rahim Bhaloo
Founder, CEO & Chairman
rahim@rahimbhaloo.com
416-816-3291

Cautionary Note

This press release contains "forward-looking information" within the meaning of applicable securities laws, including, among other things, statements regarding the intended use of proceeds of the Private Placement and the approval of the closing of the Private Placement by the TSXV. While the Company believes that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements, including due to changes in consumer behaviour, general economic factors, the ability of the Company to execute its strategies, the availability of capital and the risk factors which are discussed in greater detail in the "Risk Factors" section of the Company's prospectus dated January 31, 2022 and filed under the Company's profile on www.sedarplus.ca. The statements in this press release are made as of the date of this release. PesoRama undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of PesoRama, its securities, or its financial or operating results (as applicable).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294041

FAQ

How much did PesoRama (PSSOF) raise in the April 23, 2026 private placement?

PesoRama raised $10,048,501 gross from the private placement. According to PesoRama, this amount came from issuing 28,710,003 units at $0.35 per unit, with proceeds allocated to store expansion and general corporate purposes.

What is included in each unit issued by PesoRama (PSSOF) on April 23, 2026?

Each unit includes one common share and one half warrant. According to PesoRama, each whole warrant allows purchase of one common share at $0.50 per share and expires 36 months from issuance.

What are the warrant terms and possible acceleration for PesoRama (PSSOF) warrants?

Warrants are exercisable at $0.50 for 36 months with an acceleration clause. According to PesoRama, if the VWAP is ≥ $0.75 over ten consecutive trading days, the company may accelerate expiry with 30 days' notice.

How much did PesoRama pay in finder's fees for the private placement?

The company paid aggregate cash finder's fees of $409,254. According to PesoRama, Canaccord Genuity Corp. received $335,895 and Richardson Wealth Limited received $73,359 from those fees.

When will the securities from PesoRama's private placement be freely tradable?

Securities are subject to a statutory hold period of four months plus one day. According to PesoRama, the hold period runs from the date of issuance and closing remains subject to TSXV final approval.