SurgePays, Inc. Signs National Distribution Agreement with 1606 Corp. to Distribute Smokable- Hemp Products
SurgePays to rollout 1606 Corp.’s products into the 8,000 convenience stores on the SurgePays platform
BARTLETT, Tenn., June 10, 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 that it has entered into a national retail distribution agreement with 1606 Corp. (“1606”), a company focused on smokable-hemp products as an alternative to tobacco and nicotine products. SurgePays will feature 1606’s smokable-hemp products across its national retail distribution network of approximately 8,000 actively transacting stores.
“We have been looking for 3 to 4 great products to entice and engage 34,000 new stores in our leads database. This product fits perfectly into our outbound calling campaign and in house salesperson expansion nationwide. We believe 1606 is also a great product to upsell our existing base of 8,000 actively transacting convenience stores. With rise in consumer appetite for CBD and cannabis, we are excited to offer the quality smokable-hemp products from 1606,” commented SurgePays Chairman and CEO Brian Cox. “We chose 1606’s products after careful evaluation considering product quality, popularity, and ability to get the product in stores. The relationship with 1606 helps us address a segment of the consumer population looking for innovative CBD products or tobacco alternatives.”
In a September 2020 report, Nielsen researchers projected that sales of smokable-hemp products would reach $300-$400 million by 2025, up from its estimates of $70-$80 million in 2020. Smokable-hemp products look and smell similar to other cannabis products but offer faster delivery of the effects of hemp-CBD for consumers.
“Our agreement with SurgePays will allow us to increase our retail exposure significantly and continue to grow our brand nationwide,” said 1606 CEO Greg Lambrecht. “Our premium filtered hemp pre-rolls are great alternatives for the tobacco user looking to make healthier choices, and the benefits of CBD along with the benefits from quitting nicotine are powerful incentives for consumers. We look forward to scaling fulfilment into new SurgePays stores and replenishment re-orders every month.”
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.
About 1606 Corp.
1606 believes Hemp/CBD can change lives, and that’s why we encourage tobacco/nicotine users to make a decision—to help us take these pioneering steps into a world where something as simple as lighting up a smoke doesn’t mean taking a hammer to your health. Please visit www.1606hemp.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
Director of Public Relations
CORE IR
917-885-7378
julesa@coreir.com
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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.
