$SNPW Sun Pacific Holding Corp Announces its Subsidiary MedRecycler-RI, Inc. entered into a $6.025 Million Indenture Agreement in support of its Medical Waste to Energy Project in the State of Rhode Island.
MANALAPAN, N.J., Feb. 12, 2019 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (SNPW) announces that its subsidiary MedRecycler–RI, Inc has entered into a $6,025,000 Indenture Agreement in support of developing its Medical Waste to Energy project in the State of Rhode Island. The debt facility matures on January 29, 2020. The intent of the short-term indenture agreement is to allow MedRecycler-RI, Inc. to commence the ordering of equipment and other development activities while it completes its larger long-term financing through a separate indenture of trust. The Rhode Island Industrial Facilities Corporation has proposed bond financing for up to $13.5 Million.
Nicholas Campanella, CEO of Sun Pacific Holding Corp, stated, “We are pleased with the continued progress we are making in building a leading-edge medical waste facility that can service the needs of the medical community in the State of Rhode Island and surrounding states and municipalities. As we work to complete the larger financing and start to order, prepare, and assemble the facility, we are excited to continue to work with our partners in bringing this project online.”
Sun Pacific’s Medical Waste to Energy opportunity in Rhode Island is the Company’s first response in targeting a global medical waste market place that is expected to reach $33.4 billion by 2025. Sun Pacific’s goal is to target and build out other strategic Waste to Energy opportunities in North America in support of its high efficiency pyrolysis technologies.
The Company looks forward to keeping its stakeholders aware of its progress as it moves forward with the launch of this facility in Rhode Island. We will be updating our progress as we complete our next milestones in this very exciting project.
About Sun Pacific Holding Corp.
Sun Pacific Holding Corp. (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
215 Gordons Corner Road
Manalapan, NJ 07726
Phone: +1 (888) 845-0242 Email: ir@sunpacificholding.com
Website:www.sunpacificholding.com
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MANALAPAN, N.J., Feb. 12, 2019 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (SNPW) announces that its subsidiary MedRecycler–RI, Inc has entered into a $6,025,000 Indenture Agreement in support of developing its Medical Waste to Energy project in the State of Rhode Island. The debt facility matures on January 29, 2020. The intent of the short-term indenture agreement is to allow MedRecycler-RI, Inc. to commence the ordering of equipment and other development activities while it completes its larger long-term financing through a separate indenture of trust. The Rhode Island Industrial Facilities Corporation has proposed bond financing for up to $13.5 Million.
Nicholas Campanella, CEO of Sun Pacific Holding Corp, stated, “We are pleased with the continued progress we are making in building a leading-edge medical waste facility that can service the needs of the medical community in the State of Rhode Island and surrounding states and municipalities. As we work to complete the larger financing and start to order, prepare, and assemble the facility, we are excited to continue to work with our partners in bringing this project online.”
Sun Pacific’s Medical Waste to Energy opportunity in Rhode Island is the Company’s first response in targeting a global medical waste market place that is expected to reach $33.4 billion by 2025. Sun Pacific’s goal is to target and build out other strategic Waste to Energy opportunities in North America in support of its high efficiency pyrolysis technologies.
The Company looks forward to keeping its stakeholders aware of its progress as it moves forward with the launch of this facility in Rhode Island. We will be updating our progress as we complete our next milestones in this very exciting project.
About Sun Pacific Holding Corp.
Sun Pacific Holding Corp. (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
215 Gordons Corner Road
Manalapan, NJ 07726
Phone: +1 (888) 845-0242 Email: ir@sunpacificholding.com
Website:www.sunpacificholding.com
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