GlobeNewswire Inc | Nov 10, 2020 08:30AM EST

November 10, 2020

BARTLETT, Tenn., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Surge Holdings Inc. (OTCQB: SURG) (Surge or the Company), a fintech company meeting the needs of the underserved and underbanked, announces today that the Company plans to rename itself SurgePays, subject to FINRAs approval, to better reflect the Companys current business model and direction. The Companys ticker symbol will remain the same.

Surge Holdings was a conglomeration of multiple business lines that, while growing and exciting unto themselves, did not always provide a streamlined direction with clear messaging for a single public company to be most effective on a major exchange. Renaming the Company SurgePays and orienting it around our SurgePays fintech platform, we believe we are taking another necessary step to accomplish our big picture goals more effectively, said SurgePays CEO and Chairman Brian Cox. We are very excited about the future of SurgePays and believe that this name change will provide a clearer understanding of our business for investors.

The SurgePays system is a fintech software platform that processes third-party prepaid wireless activations and top-ups, gift card activation and loads, and wireless SIM activation. It enables retailers to instantly add credit to any prepaid wireless customers account for any carrier, providing the merchant commissioned transactions, increased foot traffic, and customer loyalty. Additionally, SurgePays offers an innovative supply-chain marketplace for convenience store, bodega and tienda owners. Retailers can order many top selling products for their store, at a deeper wholesale discount than traditional distribution due to utilizing the Direct Store Delivery (DSD) model.

About SurgePays, Inc.SurgePays, Inc. is meeting the needs of underserved markets in financial technology, telecommunications, and digital media. It offers prepaid wireless and underbanked financial products and services, along with popular consumer goods, to retail merchants (such as operators of convenience stores, bodegas, and gas stations) that address the needs of many store customers nationwide.

Company Contact:Tony EversCPA, CIAChief Financial OfficerChief Operating OfficerCell: (262) 347-7289tevers@surgeholdings.com

Media Relations:Jules AbrahamDirector of Public RelationsCORE IR917-885-7378julesa@coreir.com

Investor Relations Contact:CORE IRJoseph Delahoussaye IIIV.P. of Investor Relations516-222-2560invest@surgeholdings.com