Memphis, TN, April 15, 2020 (GLOBE NEWSWIRE) -- Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ Marketplace Network for convenience stores, bodegas and community markets that provide products to the underbanked, today announced it has begun supplying urgent response care, safety, sanitary, and health-related products through its SurgePays™ Direct Wholesale Marketplace. Surge has leveraged direct manufacturing and trade association relationships to procure hand sanitizers, masks, gloves, and other goods, which it has begun selling to its network of independent retailers nationwide.
Brian Cox, Chairman and CEO of Surge Holdings, stated, “These urgent care products are scarce and in extremely urgent demand across all economic groups including the underbanked market which represents over 25% of the US population. Our mission has always been to supply the underserved and underbanked communities with essential supplies and services at fair prices. The current landscape has given us an opportunity to show that our value is the relationship we have with these community markets and our ability to pivot quickly to supply these stores with products their customers need now. Although supply chains have been disrupted throughout the country, I believe stores purchasing direct through the SurgePays Direct Wholesale Marketplace will have these essential products available on their shelves much sooner than if had they waited for the traditional supply chains to catch up.”
Cox added, “We anticipate some exciting results due to the support of AATAC, one of the nation's largest private trade associations, which is blasting alerts and sending notifications out to tens of thousands of retailers nationwide. Our goal is to transition these sales into long term clients on our network so that we can generate recurring sales revenue across all of our product categories on the SurgePays Direct Wholesale Marketplace.”
About Surge Holdings, Inc:
Surge Holdings, Inc. operates the SurgePays™ Direct Wholesale Marketplace, a product sales channel that disrupts the traditional c-store supply chain model by providing independent and local retailers direct access to regional manufacturers from around the country. Surge leverages its wholly owned subsidiaries (value driven prepaid wireless and fintech products) to build relationships with convenience stores, bodegas, tiendas and community markets that serve the underbanked and unbanked - over25% of the US population. Once a store is onboarded to the SurgePays™ Marketplace, and the trusted profit partnership is established, Surge upsells other consumable goods by connecting manufacturers directly to these retail stores. The SurgePays™ Marketplace provides manufacturers measurable cost savings by cutting out distributors and offers an efficient platform to access independent retailers to sell products nationwide with improved payment terms. For more information on Surge Holdings and its subsidiaries, please visit: https://surgeholdings.com.
Forward Looking Statements
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as “believes”, “expects”, “may”, “will”, “should”, “anticipates”, “plans”, or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Investor Contact:
Crescendo Communications, LLC
Tel: 212-671-1020
Email: SURG@crescendo-ir.com
.