Surge Digital completes name change and 7-for-1 share consolidation

Vancouver-based Surge Digital Inc. (TSXV: SRGE) and OTCQB: BBKCD successfully rebranded and consolidated shares today, according to a company press release. The corporation, which owns Netcoins, Blockchain Intelligence Group, and TerraZero, adopted the new moniker and executed a seven-to-one share consolidation, reducing outstanding common shares from 355,780,820 to 50,825,782.

Following the TSX Venture Exchange's final approval on Saturday, SRGE trading commenced on the TSX Venture Exchange, while BBKCD will serve as the temporary OTCQB symbol for roughly 20 business days. The company clarified that fractional shares derived from the consolidation were rounded down if less than half a share and rounded up if half or more.

No cash was paid for fractional shares. The adjustments to exercise prices and share amounts for warrants and stock options were also scaled accordingly. Registered shareholders with share certificates received letters of transmittal from Computershare Trust Company of Canada for exchange instructions. Book-entry form shareholders and beneficial owners need no action, as their holdings will be updated automatically.

Surge Digital's transformation aims to better represent its business focus and strategic direction. The company operates crypto businesses, including Netcoins, a regulated Canadian and American crypto-trading platform; Blockchain Intelligence Group, which provides blockchain analytics solutions; and TerraZero Technologies, concentrated on immersive media and Web3 development.