Press Release.

• Intention to complete a private placement of up to $2M
• Advanced discussions with a lender for a $20M senior secured revolving credit facility

TORONTO, ON – (December 8, 2022) – PesoRama Inc. (TSXV: PESO) (“PesoRama” or the “Company”), a Canadian company operating dollar stores in Mexico under the JOi Dollar Plus brand, is pleased to announce that it intends to complete a non-brokered private placement financing for gross proceeds of up to $2,000,000 through the issuance of units in the capital of the Company (the “Units”) at a price per Unit to be determined in the market (the “Offering”). Each Unit will be comprised of one common share in the capital of the Company (each, a “Common Share”) and one whole Common Share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Common Share. Gross proceeds raised from the Offering will be used for working capital and general corporate purposes.

In addition, the Company announces that it is also pursuing a larger alternative less-dilutive financing. The Company will provide further updates as they become available.

Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange.  All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. 

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Finally, the Company has voluntarily withdrawn its short form base shelf prospectus dated August 22, 2022 and its short form prospectus dated October 6, 2022 in order to pursue the above mentioned alternative financings.