Business
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) --
About this update from Surgepays, Inc.
[{"type":"text","content":"SurgePays to rollout 1606 Corp.’s products into the 8,000 convenience stores on the SurgePays platform\nBARTLETT, 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-o...