Precipitate Gold Corp (OTCMKTS:PREIF) Stock Rallies After Appointment of New Chief Financial Officer

Mineral exploration company focusing on exploring mineral property interests in Newfoundland Canada and the Dominican Republic, Precipitate Gold Corp (OTCMKTS:PREIF) on September 30, 2022, announced the appointment of Stephen Sulis as its Chief Financial Officer.

Trading Data

On Friday, PREIF stock gained 5.74% to $0.0497 with more than 72.48K shares, compared to its average volume of 93.96 K shares. The stock moved within a range of $0.0400 – 0.0497 after opening trade at $0.0454.

Precipitate Announces Appointment of New Chief Financial Officer

Working currently as the CFO for several TSX-V as well as CSE listed companies, Sulis predominately works in the resource sector, both in Canada as well as globally. He has professional experience in financial reporting for mining and exploration companies, implementing accounting software, internal control policies as well as different equity financings.

Sulis also worked in the financial sector with TD Canada Trust. He has a bachelor’s degree in business administration and an advanced diploma in international business studies. Mr. Sulis replaces Ms. Vivien Chuang, who will be pursuing other opportunities.

The firm would like to express gratitude to Chuang for her years of service. Both the Board of Directors as well as Management wished her the best in future endeavors. Additionally, the firm announced granting stock options for some officers as well as consultants to buy about 400,000 common shares. Every option can be exercised for the acquisition of a single share of Precipitate at a price of $0.065 until September 30, 2027. The options will be in accordance with the firm’s stock option plan and will be subject to TSX Venture Exchange acceptance.

Technical Data

PREIF stock is trading below the 20-Day and 50-Day Moving averages of $0.0523 and $0.0581 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0761.