PetroSun Inc (OTCMKTS:PSUD) Stock Extends Fall: Here is Why

Last Friday may have been a bank holiday but there was still plenty of key developments at many companies and one of those was at PetroSun Inc (OTCMKTS:PSUD). The company announced on the day that it had appointed Gordon M LeBlanc Jr as its Executive Chairman.

Trading Data

On Thursday, PSUD stock fell 19.86% to $0.0561 with 6.40K shares, compared to volume of 40.90K shares. The stock moved within a range of $0.0561 – 0.0561 after opening trade at $0.0561.

PetroSun Announces Management Changes

It should be noted LeBlanc Jr already serves as the Chairman of the company’s board of directors. The appointment went into effect immediately. However, at the same time, it ought to be noted that the company also announced other changes to its management. LeBlanc noted that since its former Chief Executive Officer departed back in November last year, PetroSun had been deprived of a senior corporate officer.

He went on to add that following his return to the executive role, he was going to go for strategies which were going to help in building value for shareholders. One of the main points of focus for him would be the company’s prospective helium leases located in Holbrook Basin. It was also announced that Christopher Hewitt had also issued his notice to the company with regards to his intention to step away from his role as the Chief Financial Officer.