Sun Pacific Holding Corp (SNPW)

[rmuncast]

That part was confusing as well, because that condition could be waived.

The conditions precedent set out in the preceding section are inserted for the exclusive benefit of EXOL and any such condition may be waived in whole or in part by EXOL at or prior to Closing by delivering to SPPC a written waiver to that effect signed by EXOL. In the event that the conditions precedent set out in the preceding section are not satisfied on or before the Closing, EXOL shall be released from all obligations under this Agreement.

And if those subsidiaries are sold, isn't there an influx of cash, and 'EXOL/SPPS' gets a boost?

Doesn't really seem like an acquisition by EXOL, and doesn't seem like a reverse merger either (especially since EXOL isn't a shell).