SUN PACIFIC HOLDING CORP - SNPW STOCK NEWS

Sun Pacific Holding Corp. (SNPW) announced that its subsidiary, Elba Power Corp, has finalized a $2,950,000 contract to purchase a 200,000 sq. ft. property in Elba, Alabama, for solar manufacturing. The company has received a $50 million inducement resolution from the state and 100% tax abatement on sales and use tax, projecting significant cost savings. CEO Nicholas Campanella expressed optimism regarding the expansion of a 1.2GW solar products manufacturing plant, highlighting efforts to secure insurance wrap to mitigate investment risks. This strategic move indicates a commitment to growth in the renewable energy sector.

Sun Pacific Holding Corp. (SNPW) announced that the Board of Directors has decided to allow the option for a reverse stock split, initially approved by shareholders in February 2022, to expire without execution. This decision, made on January 24, 2023, reflects management's confidence in advancing the Company’s business plans without the need for a stock split. The option was to implement a reverse stock split in a range from 100:1 to 1000:1, valid for twelve months from April 21, 2022. The Board aims to protect shareholder value and reassures that further details on the Company’s 2023 plans will be provided soon.

Sun Pacific Holding Corp (SNPW) announces progress on its solar manufacturing plant project, securing non-binding support for a $50 million funding contract through Invictus and Lloyd's of London. The contract involves a lead underwriter with an 'A' Investment Grade rating, aimed at providing insurance for the project. CEO Nicholas Campanella highlighted the acquisition of a suitable 200k sq ft property in Alabama, which will enable production of over 1GW of solar panels annually, reinforcing SNPW's renewable energy strategy.

Sun Pacific Holding Corp. (SNPW) has engaged Invictus Risk Solutions to explore insurance options for a $50 million funding of its planned solar manufacturing plant in the U.S. The financing process involves underwriting analysis to assess feasibility and market conditions. CEO Nicholas Campanella emphasized the project aims to produce over 1GW of solar panels annually, contributing significantly to the rapidly growing solar industry. The collaboration with state officials aims to leverage a strong labor force and foreign trade zone designations to enhance project viability.

Sun Pacific Holding Corp announces an agreement with Marine Electric Systems Inc. to provide battery service and repair for FoxESS. This partnership aims to enhance technological development and expand service capabilities. The North American battery market was valued at USD 22.51 billion in 2020 and is expected to reach USD 53.84 billion by 2027. CEO Nicholas Campanella expressed excitement about this local partnership, which aligns with their growth strategy.

Sun Pacific Holding Corp (SNPW) has announced a partnership with PT. IDN SOLAR TECH to establish a 1GW solar manufacturing plant in the USA. This state-of-the-art facility aims to use local labor and advanced technology to produce cost-effective solar panels, projected to generate over $450 million in sales at full capacity. The project includes sourcing materials and capital while also launching OEM panel production in Indonesia. The collaboration is expected to create hundreds of jobs and significantly contribute to sustainable development and green power demands.

Sun Pacific Holding Corp. (OTC: SNPW) has announced that its subsidiary, Sun Pacific Power Corp, is now an authorized distributor of FoxESS energy storage products across North America, South America, and Australia. A new weblink has been launched to improve access to the product line for distributors and clients. FoxESS specializes in inverter and energy storage solutions, known for their advanced features and reliability. CEO Nicholas Campanella highlighted this partnership as a move to meet the growing energy storage needs and benefit from new rebate programs in states like Connecticut and Florida.

Sun Pacific Holding Corp. (OTC: SNPW) announced the launch of its innovative "NANO SOLAR" panels, aiming for worldwide sales of up to 50 MW annually. The new product features solar panels utilizing cutting-edge nano technology and building-integrated photovoltaics (BIPV). CEO Nicholas Campanella emphasized the panels' lightweight design and aesthetic options, catering to diverse applications while enhancing energy efficiency. The CIGS (Copper, Indium, Gallium, Selenium) technology promises high reliability and performance, making it suitable for various installations.

Sun Pacific Holding Corp. (OTC: SNPW) has announced a strategic agreement with FoxESS Co. LTD to serve as an authorized distributor of their energy storage products across North America, South America, and Australia. This partnership aims to enhance Sun Pacific's offerings in energy management, providing customers with advanced, efficient solutions in a growing clean energy market. FoxESS, recognized for its innovative inverter technology, is backed by Tsingshan Group, a Fortune Global 500 company, which strengthens the reliability and potential market impact of their products.