The MOU calls for adding 40,000 retail locations with a $1,500 a month per location commitment.
Las Vegas, October 8, 2018 (GLOBE NEWSWIRE) — Surge Holdings, Inc. (OTCQB:SURG) the Las Vegas-based telecom and Fintech software company intending to become the country’s leading provider of technology and consumable products to convenient stores, today announced an MOU commitment of 40,000 new store locations utilizing the SurgePays Blockchain SaaS portal with a commitment of $1,500 per month in sales per location.
“We have worked relentlessly over the last year aligning our products and support while engineering our SurgePays e-commerce portal to gear up for this type of rollout with a great company like Pastime Foods,” said Brian Cox, Surge Holdings CEO. “This is just the start of our push to add products and services to our SurgePays merchant portal while we aggressively add convenient stores and corner markets to our expanding merchant network.”
Pastime Foods CEO Tim Riedel stated, “This venture will enable Pastime Foods to utilize the technology offered by Surge to increase efficiency and sales while expanding our market reach footprint.”
Surge will begin delivering certain Pastime Foods products through the SurgePays portal while additionally offering the Surge Fintech and Telecom suite of products to all locations. Pastime Foods will leverage existing contracts, contacts and retail relationships to accomplish these initial joint rollout goals.
Cox Added, “We anticipate this rollout to be completed within the next 12 months. Surge should see an annual impact of $720 Million top line sales after 40,000 stores have been onboarded. Additionally, I see our relationship with Pastime Foods growing far beyond this 40,000 store rollout.”
ABOUT SURGE HOLDINGS:
Surge Holdings Inc. is a rapidly growing company that utilizes emerging technology to deliver products and services to convenience stores, bodegas and corner markets with the intent to improve the quality of life for the unbanked, under-banked, and the overlooked. Surge offers a complete suite of telecom and Fintech products through wholly owned subsidiaries.
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ABOUT PASTIME FOODS:
Pastime Foods is an innovative sports licensing company focused on delivering branded foods to fans. With agreements with a number of professional sports, teams, and players, the company has the unique opportunity to market and promote a unique portfolio of food products. These products include frozen, refrigerated and shelf-stable products to grocery and convenience stores across the United States both directly and/or through distributor alternatives.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
Surge Corporate Communication