Press Release.

• Introduction of multi-price points to increase product assortment
• Two new JOi Canadian Stores opening this Spring
• PesoRama leverages synergies in supply chain, logistics, shipping transport and trade service levels with strategic partner in the retail sector

TORONTO, ON – (April 7, 2022) – PesoRama Inc. (TSXV: PESO) (“PesoRama” or the “Company“), a Canadian company operating dollar stores in Mexico under the JOi Canadian Stores (“JOi”) brand, is pleased to announce the introduction of multi-price points at all 18 stores. The Company also announces the opening of two new stores this Spring (store #19 will open in April) and a strategic partnership to leverage synergies across the supply chain.

Multi-Price Points to Enhance Product Mix and Value

The expansion of the Company’s value proposition will significantly increase transaction size, drive new traffic into JOi and overall increase revenues and sales per square foot. Additional price points allow the Company to increase product assortment while maintaining high quality and value. The newly added price points will be 30 and 35 pesos and the Company will look to test additional price points in the future. The rollout of multi-price is currently underway and multi-price visibility will increase over the coming weeks as new items arrive.  

“We are thrilled to enter this next phase of growth and expansion as PesoRama solidifies its place in the Mexican market,” said Erica Fattore, President & Chief Executive Officer of PesoRama. “By pursuing a multi-price point strategy, it positions us to capture more of the market and allows us to offer our customers more of the products they need and want. It allows us to broaden our product range, increase the growth of new categories across all departments, and enables us to add new value for our loyal customers. In addition, multi-price points give us added flexibility in managing costs in an inflationary environment. We will always be the leaders on opening price point. Our customers understand that JOi offers the best value for their money.”

Two New Store Openings in Spring 2022

The Company is pleased to reveal that it will be opening two new JOi stores as it continues to grow the only large-scale chain of dollar stores in Mexico. The next store opening will be located in the city of Cuernavaca, the capital of Morelos State. The Grand Opening is planned for this weekend (April 9^th and 10^th). In addition, the Company will be opening its 20^th JOi location in Cuemanco, Mexico City, later this Spring.  

JOi offers an unmatched value proposition in the Mexican market. Discounted general merchandise and everyday high-quality staples at affordable prices cater to a wide array of client segments. By strategically targeting high-traffic, easily accessible locations close to established major retailers with a complimenting client mix, the Company is able to attract customers who desire convenience and consistency.

Strategic Supply Chain Partnership

The Company has entered into an arrangement with a strategic partner which enables PesoRama to leverage freight cost efficiencies and service levels in supply chain and distribution logistics. 

“This supply chain partnership allows the Company to leverage the economies of scale and service levels of an established retail conglomerate. This is a value creation relationship and significant win for a growing company like PesoRama,” said Abdul Bawazeer, Chief Strategy Officer of PesoRama. “An efficient supply chain is critical to any retail consumer goods operation and particularly so with the low price point business model. As supply chain pressures have been felt by everyone around the world, this arrangement is an enhancement to our supply chain core competency that distinguishes us in the Mexican market.”