Sun Pacific Holding Corp. (OTCQB: SNPW) Gains 13.82% After 10-Year Exclusive Agreement With City of Tallahassee For Solar Bus Shelters, Other Transit Projects
Sun Pacific Holding Corp. (OTCQB: SNPW) is a diversified holding company that focuses on developing green technology for commercial and government entities. Shares of the infrastructure company rallied 13.82% on Tuesday, November 28, 2017. Over the past month, Sun Pacific Holding Corp. has seen average daily volume of 34,150 shares. However, volume of 172,538 shares or dollar volume of $67,289, exchanged hands during trading on Tuesday.
Shares of Sun Pacific Holding Corp. rallied today, after the company announced that it has entered into a 10-year exclusive comprehensive agreement with the city of Tallahassee. The company will first be tasked with installing and maintaining solar-powered bus shelters, benches, and other amenities. The agreement will also include installation of solar-powered shelter and benches on campuses of Florida State University and Florida A&M University. Here is the full press release detailing of the 10-year exclusive agreement:
Sun Pacific Holding Corp. Press Release:
MANALAPAN, N.J., Nov. 28, 2017 (GLOBE NEWSWIRE) — Sun Pacific Holding Corp. (OTCQB: SNPW) today announced the start of Sun Pacific Power’s contract with the city of Tallahassee, beginning the installation and maintenance of Solar Powered Bus Shelters and Transit Amenities at hundreds of locations across Tallahassee, Florida.
The contract is with Star Metro, the transportation authority in the State of Florida’s capital city Tallahassee, which currently generates transportation revenue of $20 to 50 million annually and employs a fluctuating staff of approximately 100 to 249. As the recipient of this ten (10) year contract, Sun Pacific is to provide street furniture and other transit amenities, including Sun Pacific’s solar powered Smart Shelters and benches throughout the city of Tallahassee, fixed routes on the campuses of Florida State University and Florida A&M University, and its unincorporated areas.
This ten (10) year agreement is a “win-win” for both the City of Tallahassee and Sun Pacific, constituting a joint-effort between the parties as they design and initiate the implementation plan. With close to 1,000 bus stops, the revenue generated by the Smart Shelters and benches will create a recurring stream through the sale of advertising space to both local and national companies, as well as the leasing of wi-fi signal boosters to national data providers. This will also boost revenues for the City of Tallahassee as it will be the beneficiaries of a revenue percentage, which will reduce the program’s overall costs and allow Star Metro the opportunity to budget and focus on other items benefitting the needs of its riders.
Sun Pacific Holding Corp. has several contracts with other municipalities, cities and locations, both within the State of Florida and in other states. These contracts allow Sun Pacific Holding Corp. to become a formidable player in the street furniture marketplace.
The Global Outdoor Advertising Market Report & Forecast 2017-2022 stated that the global outdoor advertising market reached a value of around $37.7 Billion in 2016, exhibiting a CAGR of around 5.4% during 2009-2016. This year, marketers will spend more than $400 million to put their messages on bus shelters and street benches alone.
About Sun Pacific Holding Corp.
Sun Pacific Holding Corp. (OTCQB: SNPW) uses management’s knowledge and experience to serve its customers and now its shareholders through quality service and equipment, working to keep customers satisfied, and by doing our part in protecting the environment with smart green technology. For more information, visit www.sunpacificholding.com.
Safe Harbor and Forward-Looking Statements
This news release contains statements that involve expectations, plans or intentions (such as those relating to future expansion or financial results) and other factors discussed from time to time in the Company’s OTC Markets filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as “may,” “should,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan” and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
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