BARTLETT, Tennessee, Nov. 03, 2022 (GLOBE NEWSWIRE) — SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a technology and telecommunications company focused on the underbanked and underserved. serviced, today announced that it has begun the application process for a dual listing of its common stock (the “Shares”) on Upstream, the groundbreaking trading application for digital securities and NFTs powered by Horizon Fintex ( “Horizon”) and MERJ Exchange Limited (“MERJ”).
The planned dual listing on Upstream is designed to provide SurgePays with the ability to access a global base of digital investors who can trade using USDC digital currency as well as credit, debit, PayPal and USD, unlocking the liquidity and improving price discovery while giving international investors the opportunity to invest in a NASDAQ-listed company.
Commenting on the Upstream listing application, Brian Cox, Chief Executive Officer of SurgePays, said, “We believe a dual listing on Upstream provides our company with access to global capital markets and the technology to reach countless potential new investors. Additionally, as an advocate for the underbanked and underserved, the Upstream platform opens the world of digital assets to those without bank accounts, brokerage accounts, or credit cards. We have an exciting story to tell and we believe this list provides an even wider audience to learn more about our growth potential. »
“I expect the relationship with Upstream to grow beyond the dual listing. We plan to incorporate a Web3 community building strategy using Upstream’s carbon-neutral, non-custodial Web3 platform to distribute digital coupons (incentive NFTs) to prepaid wireless and mobile broadband subscribers to redeem for discounts and other rewards at stores transacting on the SurgePays platform.”
Approval to be listed on Upstream is subject to acceptance by MERJ. However, as an existing NASDAQ issuer, SurgePays may be eligible for an expedited listing process. Upon approval of the application, a SurgePays shareholder who holds their shares in a brokerage account will be able to deposit their shares on Upstream. When deposited on Upstream, Shares are tokenized.
Upstream, a MERJ exchange, is a fully regulated global exchange for digital securities and NFTs. Powered by Horizon’s Ethereum-L2 matching engine technology, the platform allows users to trade NFTs and invest in securities for IPOs, crowdfunding companies, US stocks and international and celebrity businesses using the Upstream app. For more information, please visit https://upstream.exchange.
About SurgePays, Inc.
SurgePays, Inc. is a technology and telecommunications company focused on underbanked and underserved communities. SurgePhone Wireless provides mobile broadband to low-income consumers nationwide. Fintech blockchain platform SurgePays uses a suite of financial and prepaid products to convert convenience stores and bodegas into tech hubs for underbanked neighborhoods. Please visit SurgePays.com for more information.
Caution Regarding Forward-Looking Statements
This press release contains 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 operating results or 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”, “in progress” or the negative form of these terms or other comparable terms, although all forward-looking statements do not contain these terms. words.
Although we believe that the expectations reflected in these forward-looking statements such as our market potential as well as the statements under the heading Business Outlook are reasonable, these statements relate to future events or our future operational or financial performance and involve risks. known and unknown. , uncertainties and other factors that could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors beyond our control, including, without limitation, statements about our future financial performance, including including our revenues, cash flows, revenue costs 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 with our customers. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those described in more detail in our filings with the Securities and Exchange Commission (“SEC”), including our annual report on form 10-K for the year ended December 31, 2021. The forward-looking statements contained in this press release speak only as of the date 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 unforeseen events, except as required by law.
Henry Feintuch / Doug Wright
+646-753-5710 / +646-753-5711
Brian M. Prenoveau, CFA
MZ Group – MZ North America
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