Sunstock, Inc. Purchases 4300 Ounces of Silver

Rhea-AI Summary

Sunstock, Inc. (OTC PINK: SSOK) has announced the acquisition of 4,300 ounces of silver to bolster its existing inventory. CEO Jason Chang highlighted the company's aim to enhance revenues and pursue larger acquisition targets. The price of silver rose by 36.11% over the past year, reaching a peak of $29 in August 2020, with the current market close on October 13, 2020, at $24.13 per ounce. Sunstock specializes in precious metals distribution, particularly gold, using a 'ground to coin' strategy through wholesale and retail channels.

Positive

• Acquired 4,300 ounces of silver to enhance inventory.
• Silver price rose by 36.11% in the past year.
• Current silver price indicates potential for investment growth.

Negative

• Potential risks associated with future business operations.

SACRAMENTO, Calif., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Sunstock, Inc. (OTC PINK: SSOK), involved in the buying, selling and distribution of precious metals, today announces it has purchased 4,300 ounces of silver, adding to the Company’s existing inventory.

“We recognize the opportunity to increase our stake in silver and other precious metals for investment purposes,” stated Sunstock CEO, Jason Chang. “Our goals are to increase our revenues and to find targets for bigger acquisitions. We will continue to identify opportunities that support these objectives.”

In the last year, silver has increased 36.11%, reaching $29 in August 2020. At market close Oct. 13, 2020, silver was priced at $24.13 USD/t oz.

About Sunstock, Inc.:

Sunstock, Inc. (OTC PINK: SSOK) is involved in the distribution of precious metals, primarily gold. The Company pursues a “ground to coin” strategy, whereby uses its wholesale and retail channels to sell these precious metals primarily through their own branded coins.

Forward-Looking Statements

In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.

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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to differ materially from any forward-looking statement.

Contact:
Mr. Jason Chang, CEO
Enquiry@SunstockInc.com
916-860-9622
www.SunstockInc.com

FAQ

What recent investment has Sunstock, Inc. (SSOK) made?

Sunstock, Inc. has purchased 4,300 ounces of silver to enhance its inventory.

How much has silver increased in price over the last year?

Silver has increased by 36.11% over the past year.

What is the current market price of silver as of October 13, 2020?

The market price of silver was $24.13 per ounce on October 13, 2020.

What strategy does Sunstock, Inc. (SSOK) use for distributing precious metals?

Sunstock employs a 'ground to coin' strategy for distributing precious metals, primarily gold.