The Board of Directors of Surge announced that Mr. Paul Colborne, President and CEO of Surge has stepped down as Chairman of the Board of Surge, and Mr. Jim Pasieka has assumed the role as Chairman of the Board. In addition, Mr. Murray Smith has replaced Mr. Pasieka as Chairman of the Compensation Committee, and Mr. Daryl Gilbert has joined the Compensation Committee. Mr. Pasieka has resigned from the Compensation Committee. The Board also announced that Mr. Rob Leach has become Lead Director in a situation where Mr. Pasieka is conflicted. All of these corporate governance enhancements will be implemented immediately.

The company is immediately reducing the company's dividend from $0.60 per share per year ($0.05 per share per month) to $0.30 per share per year ($0.025 per share per month). Accordingly, the company anticipates its January 2015 dividend, payable in February 2015, shall be $0.025 per share.