Manalapan, New Jersey, Nov. 03, 2017 (GLOBE NEWSWIRE) -- EXOlifestyle, Inc. (OTCQB: EXOLD) announced the formal name change to Sun Pacific Holding Corp, effective as of Friday, October 13, 2017 along with a reverse stock split at 50:1 ratio. For a period of 20 trading days, the company’s trading symbol shall be EXOLD, indicating a corporate action has taken place. At the end of the 20 days, our symbol shall change to (OTCQB: SNPW) the reverse stock split also triggers the conversion of certain preferred stock and the settlement of certain debts. As a result, the issued and outstanding of common capital stock as of the date of this press release is approximately 56,000,000 shares.
Sun Pacific Holding Corp. is a well-established service provider and media company with IP in “next generation” solar technology with the ability to manufacture solar panels without glass used in production. A unique opportunity for utilization in many more applications along with better margins due to less costly material.
The name change is a result of the acquisition of Sun Pacific Power Corp. and all its subsidiary interests. Sun Pacific Holding operates in four distinct business divisions: Electrical Contracting, Solar Generated Product Manufacturing, an Advertising Division and an Online Sales Catalog for Electrical Products. The company offers competitively priced "Next Generation" solar panel and lighting products by working closely with design, engineering, integration and installation firms in order to deliver turnkey solar systems to its customers. In addition, Sun Pacific Holding Corp. has several subsidiaries related to specialized operations in electrical, plumbing and general construction.
As one of the conditions to the acquisition all existing convertible debt has been converted to equity. Nicholas B. Campanella, CEO/ Chairman of Sun Pacific commented, ”Going forward having a clean capital table was very important to me. I now have a company already generating cash flow that only needs funding for expansion. We want to make sure that we can take advantage of all of the wonderful opportunities currently provided to us and make sure that our shareholders can benefit from our expanding company. We already have many outstanding commitments for our Solar Powered Bus stops to fulfill and we have been called upon as a solution for several of our nation’s recent natural disasters to help in providing power once again in areas still without power. It is now time for me to deliver on performance for our shareholders and I welcome the challenge.”
As reported on August 17, 2017 the company has appointed the following Board of directors, their resumes and additional information are available on our website www.sunpacificholding.com
Appointees to the Board:
|Nicholas Campanella||Director, CEO|
|William Singer||Director, President|
Additional information on this transaction can be reviewed on EDGAR. Form 8-K filed with the U. S. Securities and Exchange Commission on August 18, 2017.
For more information on Sun Pacific Holding Corp. visit www.sunpacificholding.com
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