Achieves 2022 Wireless Subscriber Guidance Ahead of Schedule

BARTLETT, Tenn., Oct. 05, 2022 (GLOBE NEWSWIRE) -- SurgePays, Inc. (SURG) ("SurgePays" or the "Company"), a technology and telecommunications company focused on the underbanked and underserved, announces it exceeded 200,000 subscribers in its mobile broadband subscriber business SurgePhone Wireless LLC ("SurgePhone"), the Company's wholly-owned subsidiary. 

"We believe that through the Affordable Connectivity Program ("ACP"), we can positively impact the lives of the underbanked and underserved across multiple dimensions: financial, health, and academic. Bringing previously unconnected individuals into the connected economy will result in dramatic economic and social benefits," said Chairman and CEO Brian Cox.

Mr. Cox continued: "We are still in the early stages of the ACP scaling efforts to reach as many of the estimated 48 million qualifying households as possible. Today, SurgePhone Wireless has over 220,000 subscribers exceeding the guidance given at the beginning of the year. Our organic growth has been achieved as we promised, without diluting our common stockholders. 

"With our experienced team, economies of scale, operational focus and software efficiencies, we believe SurgePhone has the necessary foundation in place to accelerate the Company's growth towards a longer-term target of 500,000 subscriber."

For more information on SurgePays, please visit the Company's investor relations website at ir.surgepays.com.

About SurgePays, Inc.

SurgePays, Inc. is a technology and telecommunications company focused on the underbanked and underserved communities. SurgePhone Wireless provide mobile broadband to low-income consumers nationwide. SurgePays blockchain fintech platform utilizes a suite of financial and prepaid products to convert corner stores and bodegas into tech-hubs for underbanked neighborhoods. Please visit SurgePays.com for more information.

MZ Contact
Brian M. Prenoveau, CFA
MZ Group – MZ North America
brian.prenoveau@mzgroup.us
+561 489 5315

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