BARTLETT, Tenn., June 15, 2022 (GLOBE NEWSWIRE) -- SurgePays, Inc. (Nasdaq: SURG) ("SurgePays" or the "Company"), a technology and telecommunications company focused on the underbanked and underserved, was selected to join the Russell Microcap® Index at the conclusion of the 2022 Russell indexes annual reconstitution. The selection will become effective after the U.S. market closes on June 24, 2022, according to a preliminary list of additions posted June 6, 2022.
Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. It includes companies that are considered more growth oriented relative to the overall market as defined by Russell's leading style methodology.
"Our inclusion in the Russell Microcap® Index reflects a lot of hard work and determination on the part of the SurgePays team, combined with our substantial growth expectations in both the near and long term," stated Brian Cox, CEO of SurgePays, Inc. "Joining the Nasdaq exchange in the fourth quarter of 2021 brought our Company visibility on Wall Street. I think being on a short list of companies added to the Russell Microcap index is clear evidence of successful execution in a booming market segment while hitting significant growth milestones. Joining the Russell Microcap® Index will hopefully contribute to our momentum in the market."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
The Russell Microcap Growth Index measures the performance of the microcap growth segment of the U.S. equity market. For more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
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 provides 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.
Investor Relations Contact
Brian M. Prenoveau, CFA
MZ Group – MZ North America
brian.prenoveau@mzgroup.us
+561 489 5315
Media Contacts
Henry Feintuch / Doug Wright
Feintuch Communications
surgepays@feintuchpr.com
646-753-5710 / 646-753-5711
Cautionary Note Regarding Forward-Looking Statement
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, 2021. 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.