MANALAPAN, N.J., April 16, 2018 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (OTCQB:SNPW) announced that its Street Smart Outdoor subsidiary has achieved a 20% Advertising Placement Rate within its first full quarter of marketing of over 700 advertising faces under our contract with the Rhode Island Public Transportation Authority (“RIPTA”).
The Company’s next milestone is to continue to ramp up its Advertising Placement Rate and achieve its goal of a 70% to 80% utilization rate by the end of the year, while also meeting its initial obligation of installing 10 of the Company’s new Solar Powered shelters within the first year of management.
“Coupled with our relationships with various media companies, we are pleased with the pace we are achieving in meeting our advertising goals under this contract. At this pace of growth we believe we shall meet our full year goals that will result in building out a recurring revenues base of up to approximately $2 million per year on a run rate basis under this contract,” stated Nicholas Campanella, CEO of Sun Pacific Holding Corp. “We are also pleased with our progress in preparing to install our first 10 Solar Powered shelters by the end of the year. Our new Solar Powered shelters will be able to achieve a much higher advertising rate, allowing us to further grow our recurring revenue streams under this contract as we move to replace the current shelters under management over the ten year term of our contract.”
Sun Pacific Holding Corp. also has several contracts with other municipalities, cities and locations, both within the State of Florida and in other states. These contracts should allow Sun Pacific Holding Corporation to become a formidable player in the street furniture marketplace in the future.
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.
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IR Contact
Sun Pacific Holding Corp
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Manalapan, NJ 07726
Phone: +1 (888) 845-0242 Email: ir@sunpacificholding.com Website:www.sunpacificholding.com