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PesoRama Announces LIFE Offering and Concurrent Private Placement Offering
Newsfile· 2025-10-20 12:00
Core Viewpoint - PesoRama Inc. is initiating a LIFE Offering and a Concurrent Private Placement to raise funds for store expansion and working capital, with a total potential gross proceeds of up to $5,000,000 [1][8]. LIFE Offering - The LIFE Offering will consist of up to 14,000,000 units priced at $0.25 each, aiming for gross proceeds of up to $3,500,000 [2]. - Each unit includes one common share and half a warrant, with warrants exercisable at $0.40 for 18 months [2]. - The offering will be available in all Canadian provinces except Québec, and in the U.S. under certain exemptions [3]. Concurrent Private Placement - The Concurrent Private Placement will issue up to 6,000,000 units at the same price, targeting gross proceeds of up to $1,500,000 [5]. - Units may be offered to Canadian residents and in the U.S. under applicable exemptions [5][7]. Use of Proceeds - The net proceeds from both offerings will be utilized for store expansion and working capital [8]. Closing Date - The expected closing date for the offerings is around November 6, 2025, subject to necessary approvals [8]. Fees and Compensation - Canaccord Genuity Corp. may receive a cash fee of up to 6.0% of gross proceeds and additional advisory fees, along with non-transferable warrants [9]. - For investors not introduced by Canaccord, the fees will be reduced to 2.0% and 3.0% respectively [9]. Insider Participation - Insiders may participate in the offerings, with units issued to them subject to a four-month hold period [10]. - The participation will be considered a related party transaction, relying on exemptions from formal valuation and minority shareholder approval requirements [10]. Company Overview - PesoRama operates dollar stores in Mexico under the JOi Dollar Plus brand, focusing on high-density locations and offering a variety of merchandise [13].