PesoRama Inc. Announces Completion of Over Subscribed Private Placement

Calgary, Alberta--(Newsfile Corp. - June 7, 2019) - PESORAMA Inc. (the "Company" or "PESORAMA") is pleased to announce that it has completed a brokered private placement of units of the Corporation (each a "Unit"), offered by a syndicate of agents including Haywood Securities Inc., Cannacord Genuity Corp., Richardson GMP Limited, National Bank Financial Inc., Industrial Alliance Securities Inc. and Cormark Securities Inc. (collectively, the "Agents") for aggregate gross proceeds of $7,853,247.75 (the "Brokered Offering"). The Brokered Offering was over subscribed, and accordingly, the Agents exercised their over-allotment option, resulting in the issuance of an aggregate of 10,470,997 Units at a price of $0.75 per Unit.

Immediately following the Brokered Offering, the Company closed a non-brokered private placement of ‭3,550,763‬ Units at a price of $0.75 per Unit, for additional gross proceeds of $2,663,072.50 (the "Non-Brokered Offering"). ‬‬‬‬‬‬‬

In total, the Company issued ‭14,021,760‬ Units for total gross proceeds of $‭10,516,320‬.‬‬‬‬‬‬‬‬‬‬‬‬‬‬

Each Unit consists of one class "A" common share (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each whole Warrant entitles the holder to acquire one Common Share at an exercise price of $1.25 up to 24 months from the date of issuance (the "Expiry Date"), provided that the Company reserves the right to accelerate the Expiry Date at any time, following the date that is four months and one day from the Closing Date, to 30 days from delivery of such written notice, in the event that the Common Shares trade on the Canadian Securities Exchange at a price per Common Share that is equal to or above C$2.50 per Common Share for 20 consecutive trading days at any time after the date which is four months and one day from the Closing Date.

All securities issued in connection with the Offering are subject to a four month and one day hold period from the Closing Date in accordance with applicable securities laws.

The Company intends to use the proceeds from the Offering for continued expansion of the Corporation's retail facilities, working capital and general corporate purposes.

In connection with the Brokered Offering, the Agents received (i) an aggregate cash commission of $486,519.88 and (ii) compensation options to purchase up to 648,692 Units at the Issue Price for a period of 24 months following the date on which the Company's Common Shares are listed for trading on the TSX Venture Exchange ("Broker's Warrants").

In connection with the Non-Brokered Offering, the Company paid certain finders an aggregate cash fee of $‭93,976.8‬0 and issued finder's warrants to purchase up to ‭124,768‬ Common Shares at an exercise price of $1.25 for a period of 24 months following the date on which the Company's Common Shares are listed for trading on the TSX Venture Exchange. In addition the Company issued 135,000 Common Shares and 135,000 Broker's Warrants to an officer of the Company in consideration for introducing a subscription under the Non-Brokered Private Placement to the Company. ‬‬‬‬‬‬‬‬‬‬

About PESORAMA

PESORAMA is a Mexican value single price point dollar store retailer offering a broad assortment of consumable products, general merchandise and seasonal items.

For more information:

Rahim Bhaloo, Chief Executive Officer
PESORAMA
1-416-816-3291
rahim@pesorama.ca

Cautionary Statements

This news release contains forward looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward looking statements or information. Forward-looking statements and information in this news release includes, but is not limited to, the use of proceeds of the Offering. Although the Company believes that the expectations and assumptions on which the forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company cannot give any assurance that they will prove to be correct. Since forward looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results and developments may differ materially from those that are currently contemplated by these statements depending on, among other things, risks relating to the ability to spend the proceeds as anticipated. The Company cautions that the foregoing list of risks and uncertainties is not exhaustive.

The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward looking statement or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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