Management Update | PSSOF Stock News

03/05/2024 – 07:25 PM

Toronto, Ontario–(Newsfile Corp. – March 5, 2024) – PesoRama Inc. (TSXV: PESO) (“PesoRama” or the “Company“), a Canadian company operating dollar stores in Mexico under the JOi Dollar Plus brand, announces that Erica Fattore has resigned as President and CEO of the Company. Rahim Bhaloo, the Company’s Founder and Executive Chairman, will act as the Company’s Interim CEO until such time as the Company’s board of directors (the “Board“) finalizes on a replacement for the position and updates the market in due course.

Ms. Fattore commented:

“As a founding member of the management team since PesoRama’s inception, it has been an absolute privilege to serve as the company’s CEO. Having had the opportunity to witness and contribute to the remarkable growth and success of our company, I am immensely proud of the solid foundation we’ve built together and the milestones we’ve accomplished thus far. I am committed to maintaining a strong connection with PesoRama, offering unwavering support throughout this transition. With our resilient team and forward-thinking approach, I am confident that PesoRama’s future is incredibly promising.”

Ms. Fattore will continue in a consultancy role focussing on the Company’s product import initiatives and strategies. The Board extends its sincere appreciation to Ms. Fattore for her unwavering dedication and contributions during her tenure, and wishes her every success in her future pursuits.

The Company also announces that Abdul Bawazeer has stepped down from his position of Chief Strategy Officer into a consultancy role through which he continues to support senior management in strategic initiatives.

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 22 stores 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 further information please contact:

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

Cautionary Note

This press release contains “forward-looking information” within the meaning of applicable securities laws, including, among other things, statements regarding the Board’s expectations for the commencement of a search for Ms. Fattore’s replacement. 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.sedarplus.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/200613

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