Sunstock Inc. Announces Plans to Purchase 100,000 Ounces of Silver for New Storefront
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SACRAMENTO, Calif., March 23, 2021 (GLOBE NEWSWIRE) -- Sunstock Inc. (OTC: SSOK), involved in the buying, selling and distribution of precious metals, today announces its intent to purchase up to 100,000 ounces of silver as initial inventory for its new retail shop.
Sunstock owns and operates Mom’s Silver Shop located in Sacramento, Calif. As previously announced, the Company is expanding its retail presence by opening a second, larger shop on the East Coast. Based on favorable market conditions and the performance of Mom’s Silver Shop, Sunstock will begin building its inventory to prepare for the opening of its new store.
“In 2020, we significantly increased our revenues to $3.8 million, driven by solid marketing strategies paired with consumer and investor interest in precious metals,” stated Sunstock CEO Jason Chang. “Our team is diligently working to prepare our second location for the similar growth.”
Sunstock continues to acquire assets at a pace and price conducive to its growth strategy. In the fourth quarter of 2020, the Company grew its holdings by 4 ounces of gold bars and 4,500 ounces of silver, which underscores the significance of its intent to purchase up to 100,000 ounces of silver for the new location.
“This is an exciting time for investors looking to diversify their portfolio with unconventional assets, and a milestone moment for Sunstock as we execute our expansion strategy,” stated Chang. “We have researched our target demographic on the East Coast, and our immediate goals are to find a spacious storefront with high visibility and accessibility, and to rapidly build our inventory to be ready for market demand.”
About Sunstock Inc.:
Sunstock Inc. (OTC: SSOK) is involved in the distribution of precious metals, primarily gold. The Company pursues a “ground to coin” strategy, whereby it uses its wholesale and retail channels to sell these precious metals primarily through its own branded coins. For more information, visit the Company’s website at www.SunstockInc.com
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.
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