SACRAMENTO, Calif., Dec. 23, 2020 (GLOBE NEWSWIRE) -- Sunstock, Inc. (OTC PINK: SSOK), involved in the buying, selling and distribution of precious metals, today announces the conversion of 600 million shares of preferred stock into common stock. The completion of these preferred stock agreements eliminates the Company’s third-party debt in full.
On Dec. 9, 2020, BFAM Partners, LLC completed the conversion of its balance of 400 million preferred shares. On Dec. 9, 2020, Innovative Digital Investors Emerging Technology, LP completed the conversion of its balance of 200 million preferred shares.
“We are pleased to announce that as of December 2020, Sunstock is free of third-party debt, validating our commitment to corporate growth and successful debt management, as well as demonstrating investor confidence in our strategies,” stated Sunstock CEO Jason Chang. “While many companies have suffered under the weight of the COVID pandemic, 2020 has been a favorable year for our business. We have consistently increased our inventory of gold and silver and, as previously announced, are taking the steps necessary to uplist to the OTCQB® Venture Market. We look forward to further growth in the year ahead as we continue to grow our assets, build shareholder value, and enjoy the benefits of operating without additional debt.”
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. For more information, visit the Company’s website at www.SunstockInc.com
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