Investor News
Press Release.
OTC: PSSOF
FSE: ZE6
PesoRama Announces Construction of 21st Store
- PesoRama’s 21st store is under construction and is expected to open in December 2022
- Located in a busy neighbourhood Power Center in San Marcos, situated approximately 20 minutes outside of Mexico City
- Other anchor tenants in the Power Center include Walmart, Home Depot & Office Max
TORONTO, ON – (November 3, 2022) – PesoRama Inc. (TSXV: PESO) (“PesoRama” or the “Company“), a Canadian company operating dollar stores in Mexico under the JOi Dollar Plus brand, today announced that the Company’s 21st store in Mexico is under construction. This new store is situated in the bustling Jardines de la Hacienda neighbourhood of San Marcos. This busy middle-class neighbourhood’s premier shopping destination, Power Center San Marcos, offers a strong mix of retailers in an outdoor mall setting.
“After launching operations in 2019, we have targeted prominent neighbourhoods in Mexico City for our store locations as we continue to strengthen our brand awareness. The vibrant Jardines de la Hacienda neighbourhood in San Marcos fits our neighbourhood shopping model well, making this our 21st store location,” said Erica Fattore, President & Chief Executive Officer of PesoRama. “The Power Center San Marcos is high traffic, easily accessible, and close to established major retailers, attracting customers who desire convenience, and consistency. Thank you to the entire team at PesoRama – we can’t wait to celebrate the opening with you this December.”
“We are excited that our 21st store is under construction and currently on track to open in the heart of the December holiday shopping season in Jardines de la Hacienda,” said Rahim Bhaloo, Founder & Executive Chairman of PesoRama. “Our strategy is uniquely meeting the needs of Mexico’s growing middle class, offering an unmatched value proposition in the Mexican market. As we continue to significantly scale across the country, we can celebrate the success of our growth-oriented business model and the opportunity that the Mexican market presents.”
The store is located at Av Chalma 281, Jardines de la Hacienda, Cuautitlán Izcalli CP 54720, and is expected to open in December 2022.
PesoRama Inc. is a Mexican value retailer that currently operates a chain of stores in Mexico under the brand name "JOi Dollar Plus." PesoRama's stores offer a broad range of everyday household products, seasonal goods, and pet supplies at affordable prices. The Company's mission is to become Mexico's premier dollar store chain, targeting expansion to 500+ locations across Mexico.
For more information, visit pesorama.ca.
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors which may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements, except as required by applicable law.
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.