PesoRama Announces Grand Opening of Store #22 on November 17th in Tlalnepantla

A live stream of the ribbon cutting and new store opening celebration will be held on Friday, November 17^th at 3:00 PM ET on JOi's Instagram page: @joi.dollar.plus.mx

Toronto, Ontario--(Newsfile Corp. - November 16, 2023) - PesoRama Inc. (TSXV: PESO) ("PesoRama" or the "Company"), a Canadian company operating dollar stores in Mexico under the JOi Dollar Plus brand, today announces the upcoming grand opening of store #22 on November 17^th in Tlalnepantla.

The 458-square meter site in Tlalnepantla is our first JOi stand-alone store, located in the first square of the municipality of Tlalnepantla. This municipality has a population of approximately 672,200 inhabitants. The Tlalnepantla store is located 13 kilometers from the center of Mexico City, in front of the municipal office and around numerous retailers including Coppel and Elektra. The area also includes schools, banks, and hospitals that make the neighborhood environment a necessary destination for all the inhabitants of Tlalnepantla.

"We are excited to open a new JOi Dollar Plus Store in Tlalnepantla, and expand our reach to the Mexican consumer segment," said Erica Fattore, President, and CEO of PesoRama. "The new store is located in a dense urban area that has a large population who could benefit from our JOi brand. We will continue to evaluate new opportunities to scale our business and enter new local markets in Mexico where we see a high population of consumers who fit our customer profile."

"The opening of our 22^nd Joi Dollar Plus Store in Mexico, bodes well for our overall expansion and provides greater accessibility to Mexican consumers who want to shop at our stores," said Rahim Bhaloo, Founder & Executive Chairman of PesoRama. "There are multiple new locations with a high density of potential customers, where we would like to open our stores to drive continued growth and success."

PesoRama's JOi Dollar Plus Store located in the municipality of Tlalnepantla

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Join Our Live Stream on Instagram!

A live stream of the ribbon cutting and new store opening celebration will be held on JOi's Instagram page on Friday, November 17^th at 3:00 PM ET. Join us in celebrating and follow along on Instagram: @joi.dollar.plus.mx.

About PesoRama Inc.

PesoRama, operating under the JOi Dollar Plus brand, is a Mexican value dollar store retailer. PesoRama launched operations in 2019 in Mexico City and the surrounding areas targeting high density, high traffic locations. PesoRama's 21 stores (22^nd store opening on November 17^th) offer consistent merchandise offerings which include items in the following categories: household goods, pet supplies, seasonal products, party supplies, health and beauty, snack food items, confectionery and more. For more information visit: http://pesorama.ca/.

For further information please contact:

Rahim Bhaloo
Founder & Executive Chairman
rahim@rahimbhaloo.com
416-816-3291

Erica Fattore
President & Chief Executive Officer
erica@joi.mx

Cautionary Note

This press release contains "forward-looking information" within the meaning of applicable securities laws, including, among other things, statements regarding the Company's planned expansion, new store openings and expected future developments and other factors that have been considered appropriate. While the Company believes that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements, including due to changes in consumer behaviour, general economic factors, the ability of the Company to execute its strategies, the availability of capital and the risk factors which are discussed in greater detail in the "Risk Factors" section of the Company's prospectus dated January 31, 2022 and filed under the Company's profile on www.sedar.com. The statements in this press release are made as of the date of this release. PesoRama undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of PesoRama, its securities, or its financial or operating results (as applicable).

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187692