Sun Pacific Holding Corp’s Subsidiary Street Smart Outdoor Corp Announces 5 Year Agreement with Township of Howell, New Jersey; Adding up to 40 New Advertising displays

Rhea-AI Summary

Sun Pacific Holding Corp (SNPW) announced a five-year agreement with Howell, New Jersey for outdoor advertising via its subsidiary, Street Smart Outdoor Corp. This initiative includes expanding advertising presence with up to 40 new bus shelter faces, capitalizing on the growing out-of-home advertising market. Despite forecasted declines in global ad spending, Sun Pacific aims to benefit from this trend by enhancing revenues through strategic inventory management.

Positive

• New five-year advertising agreement with Howell, NJ enhances revenue potential.
• Expansion of advertising presence with up to 40 bus shelter faces.
• Strategic focus on capturing national advertisers boosts growth opportunities.

Negative

• Projected global decline in out-of-home advertising spending could impact revenue.
• Forward-looking statements indicate potential risks and uncertainties.

MANALAPAN, N.J., Oct. 05, 2020 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (Other OTC: SNPW) today announces that its wholly owned subsidiary, Street Smart Outdoor Corp (“SSO”) and Township of Howell New Jersey have entered into an initial five year agreement for its outdoor advertising on street furniture panels. This program will proceed under a contract held by Sun Pacific Power Corp and managed by Street Smart Outdoor. In support of this new program, Street Smart Outdoor is currently expanding its advertising presence in New Jersey with up to 40 Bus shelter faces to be used for advertising at various locations throughout this high population town with high traffic.

In 2019, out-of-home advertising spending reached close to 39.42 billion U.S. dollars worldwide. This figure is forecast to decrease in the following years, with global expenditures projected to fall to 37.1 billion U.S. dollars by the end of 2022 as a result of the coronavirus outbreak. Sun Pacific aims to participate in and benefit from this significant and continuing advertising revenue growth trend.

Nicholas Campanella, CEO of Sun Pacific Holding Corp, stated, “We are very pleased to add locations as we work on expanding our reach to national advertisers. We believe that current national advertising partners will benefit from our outdoor inventory within the USA. A key strategy for us is to identify opportunities and build out our portfolio to enhance and optimize revenues with our current inventory of Street Smart Outdoor. We look forward to providing more information as developments progress.”

About Sun Pacific Holding Corp.

Sun Pacific Holding Corp. (Other OTC: 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.

IR Contact
Sun Pacific Holding Corp
345 Highway 9 South Suite 388
Manalapan, NJ 07726
Phone: +1 (888) 845-0242 Email: ir@sunpacificholding.com 
Website: www.sunpacificholding.com
Website: www.streetsmartoudoor.com

FAQ

What recent agreement has Sun Pacific Holding Corp (SNPW) entered into?

Sun Pacific Holding Corp (SNPW) announced a five-year advertising agreement with Howell, NJ.

How many bus shelter faces will be added in the new advertising agreement?

The agreement includes the addition of up to 40 bus shelter faces for advertising.

What is the current trend in global out-of-home advertising spending?

Global out-of-home advertising spending is projected to decline from $39.42 billion in 2019 to $37.1 billion by the end of 2022.

What is Sun Pacific Holding Corp's strategy for enhancing revenue?

Sun Pacific is focusing on expanding its advertising inventory and targeting national advertisers to optimize revenues.

What risks did Sun Pacific Holding Corp highlight in their press release?

The company indicated that actual results may differ from forward-looking statements due to uncertainties and risks.