BARTLETT, Tenn., July 20, 2021 (GLOBE NEWSWIRE) -- SurgePays, Inc. (OTCQB: SURG) (“SurgePays” or the “Company”), a blockchain fintech company building a next generation supply chain network that offers wholesale goods and financial services for the underbanked more cost efficiently than traditional distribution models, today announces its acquisition of Commander Communication, LLC (“Commander”), a private provider of prepaid wireless payment and top-up services that are offered to retail customers through its customer base of approximately 500 convenience stores located primarily in Louisiana.
“This acquisition brings tremendous potential to increase sales from both the active and inactive stores within Commander’s customer base,” said Daniel Anderson, National Direct Sales Manager at SurgePays. “Consistent with our recently announced strategy of expanding our in-house sales efforts and using our proprietary BLITZ platform, we have already added two dedicated sales representatives to expand service to the customers within Commander’s network. Our sales initiative will look to both expand the existing cellular top-up payment offerings from Commander and supplement these products with all our new fintech products and services, including our private label gift card programs. We see potential to increase the number of active stores within Commander’s network as well as sales per store with these additional new products offerings, including the higher-margin, direct-from-manufacturer, wholesale products that see strong sell-through at the retail level offered through our marketplace.”
SurgePays is expanding its network of active stores, both organically by targeting nearly 34,000 stores in its database with its BLITZ campaign as well as through acquisitions of companies like Commander that have direct relationships with convenience stores that can be further leveraged. From more highly competitively priced wireless top-up offerings to an assortment of additional fintech products (e.g. gift cards), commonly purchased general merchandise, and innovative offerings, such as smokable-hemp products offered through the Company’s distribution agreement with 1606 Corp., SurgePays has a wide variety of products to meet the retail needs of and enhance the profitability of convenience stores, mini-marts, bodegas, and tiendas.
About SurgePays, Inc.
SurgePays, Inc. utilizes its blockchain software platform to offer a comprehensive suite of prepaid, financial services for the underbanked, and top selling wholesale products to independently owned convenience stores, mini-marts, tiendas, and bodegas more cost efficiently than existing wholesale distribution models. Please visit www.SurgePays.com for more information.
SurgePays, Inc.
Company Contact:
Tony Evers CPA, CIA
Chief Financial Officer
847-648-7541
tevers@surgeholdings.com
Investor Relations Contact:
CORE IR
516-222-2560
invest@surgeholdings.com
Media Relations:
Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com
Cautionary Note Regarding Forward-Looking Statements.
This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, statements about our future financial performance, including our revenue, cash flows, costs of revenue and operating expenses; our anticipated growth; our predictions about our industry; the impact of the COVID-19 pandemic on our business and our ability to attract, retain and cross-sell to clients. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.