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PesoRama Announces Grants of Stock Options and Issuance of Shares
Toronto, Ontario--(Newsfile Corp. - August 22, 2025) - PesoRama Inc. (TSXV: PESO) (" PesoRama...
About this update from Pesorama Inc
[{"type":"text","content":"PesoRama Announces Grants of Stock Options and Issuance of SharesToronto, Ontario--(Newsfile Corp. - August 22, 2025) - PesoRama Inc. (TSXV: PESO) (\"PesoRama\" or the \"Company\"), a Canadian company operating dollar stores in Mexico under the JOi Dollar Plus brand, announces that it has granted an aggregate of 10,400,000 incentive stock options (the \"Options\") exercisable at a price of $0.23 per share in accordance with the Company's stock option plan, including to certain directors, officers and employees of the Company, and has agreed to issue 656,250 common shares at $0.20 per share as a debt settlement in exchange for $131,250.00 payable to certain directors of the Company (the \"Debt Settlement\").Each Option is exercisable to acquire one common share of the Company at a price of $0.23 per share for a period of five (5) years from the date of grant. The Options are subject to vesting provisions as determined by the Company's Board of Directors and have been granted pursuant to the Company's stock option plan which was approved by shareholders at the Company's annual and special meeting held on August 8, 2023.The Debt Settlement remains subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued in connection with the Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Debt Settlement will constitute a \"related party transaction\" as defined in Multilateral Instrument 61- 101 - Protection of Minority Securityholders in Special Transactions (\"MI 61-101\"), as insiders of the Company will be issued an aggregate of 656,250 common shares. The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the common shares being issued to insiders in connection with the Debt Settlement does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. A material change report will be filed not less than 21 days before the closing date of the Debt Settlement. This shorter period was reasonab...