PesoRama announces shareholder approval of proposed business combination


Toronto, Ontario – (Newsfile Corp. – December 3, 2021) – PesoRama Inc. (“PesoRama” Where “the company“) announced today that its shareholders have approved all resolutions proposed at the annual and special meeting of shareholders of the Company (the”Meeting“) held earlier today. More importantly, shareholders unanimously approved a special resolution for the company to complete a business combination with Skyscape Capital Inc. (TSXV: SKY.P) as a result of What the resulting company – PesoRama – would be listed on the TSX Enterprise Exchange.

“We are very pleased that our shareholders have shown overwhelming support for our vision of growing the business. Today’s result gives us options to access capital to fund our continued expansion into the Mexican retail market, ”said Erica Fattore, President and CEO. Officer. “We have already seen strong support in the form of a major order of over $ 5 million from a Mexico-based strategic investor, subject to the completion of planned financing.”

At the meeting, shareholders also voted to elect Andrew Parks and Rahim Bhaloo as directors of the company, appoint MNP LLP as auditor, change the head office from Alberta to Ontario and amend the bylaws. of the company to include a notice provision.

For more information, please contact:

Rahim Bhaloo,
Founder & Executive Chairman
Email: rahim@rahimbhaloo.com

Erica Fattore,
President and CEO
Email: Erica@joi.mx

About PesoRama Inc.

PesoRama is a Mexican one-price dollar store retailer. PesoRama launched operations in 2019 in and around Mexico City, targeting high density, high traffic locations. PesoRama’s 18 stores have a consistent merchandise offering that includes items in the following categories: housewares, kitchenware, household cleaning products, home decor products, seasonal products, stationery, toys and games, household items ‘arts and crafts, electronics, souvenirs, novelties, jewelry, clothing, footwear, headgear, costumes, personal care products, health and beauty, cosmetics, food, drink, snacks, confectionery, pet food and pet accessories, hardware, garden tools and other general merchandise.

Caution

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to the proposal to complete the proposed transaction and related transactions, including statements regarding the terms of the proposed transaction and the concurrent financing. Although PesoRama believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors which have been deemed appropriate that the expectations reflected in such forward-looking information are reasonable, it should not be not place undue reliance on them because the PesoRama cannot guarantee that they will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated in these statements depending, among other things, on the risk that the parties do not proceed with the Proposed Transaction and associated transactions, the final terms of the Proposed Transaction and associated transactions differing from those currently under consideration, and the Proposed Transaction and related transactions are not successful for any reason (including failure to obtain required regulatory approvals or authorizations). The statements contained in this press release are made as of the date of this press release. PesoRama does not undertake to comment on analyzes, expectations or statements made by third parties regarding PesoRama, its securities or its financial or operational results (if any).

Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has made any comment on the merits of the transaction. proposed and none of the aforementioned entities has approved or disapproved the contents of this press release.

Neither the TSX Venture Exchange, Inc. 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/106488


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