On June 9, 2023, PesoRama Inc. entered into a binding senior secured revolving credit facility for up to $20M with Third Eye Capital Corporation, one of the Canada´s leading alternative capital providers, on behalf of certain lenders. The Loan will support the Company's continued expansion through the construction of new JOI Dollar Plus Stores in Mexico and the expansion of the Company's inventory and product offerings.
"Today is a day of celebration as we reach this milestone and closing of this new credit facility," said Rahim Bhaloo, Founder and Executive Chairman.
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 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.
SMPS Legal represented PesoRama in the revolving credit facility.