Charge Enterprises to Join Russell 3000(R), Russell 2000(R), and Russell Microcap(R) Indexes

Rhea-AI Summary

Charge Enterprises (CRGE) has been added to the Russell 3000, Russell 2000, and Russell Microcap indexes effective June 27, 2022. This inclusion follows the recent Nasdaq listing, enhancing visibility to institutional investors. Membership provides automatic inclusion in large-cap and small-cap indexes, facilitating broader investment opportunities. Approximately $12 trillion in assets track these indexes, indicating significant market impact and opportunities for Charge as it continues to focus on EV charging and 5G infrastructure for sustainable revenue growth.

Positive

• Addition to Russell 3000, Russell 2000, and Russell Microcap indexes enhances visibility to institutional investors.
• Membership could attract more investments, benefiting stock performance and overall market confidence.
• Continued focus on high-growth sectors like EV charging and 5G infrastructure supports long-term revenue expansion.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / June 27, 2022 / Charge Enterprises, Inc. (Nasdaq:CRGE) ("Charge" or the "Company"), a global business with the vision of connecting people everywhere with communications and electric vehicle ("EV") charging infrastructure, is set to be added to the Russell 3000^®, Russell 2000^®, and Russell Microcap^® Indexes, effective after the US market opens on June 27, as part of the 2022 Russell indexes annual reconstitution.

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, ranking them by total market capitalization. Membership in the US all-cap Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000^® Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. Membership in the Russell Microcap^® Index, which also remains in place for one year, also means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

"We are very excited to be added to the Russell indexes on the heels of our Nasdaq Global Market listing and expect this inclusion to further improve our visibility with institutional investors," stated Andrew Fox, Founder, Chairman and Chief Executive Officer of Charge Enterprises. "We remain focused on our strategy to leverage our existing businesses and invest in the high growth areas of EV charging and 5G infrastructure to drive sustainable revenue expansion that will benefit all stakeholders."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000^® Index, the Russell Microcap^® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.

About FTSE Russell:

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com.

About Charge Enterprises, Inc.

Telecommunications

Our Telecommunications business ("Telecommunications") has provided routing of both voice and data to Carriers and Mobile Network Operators ("MNOs") globally for over two decades and we will selectively add profitable products and services to this long-established business.

Infrastructure

Our Infrastructure business ("Infrastructure") has a primary focus on two fast growing sectors: electric vehicle ("EV") charging, and Telecommunications Network 5G, including cell tower, small cell, and in-building applications. Solutions for these two sectors include: Design and Engineering, Equipment Specification and Sourcing, Installation, Data and Software Solutions, and Service and Maintenance.

To learn more about Charge, visit Charge Enterprises, Inc.

Notice Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect current expectations or beliefs regarding future events or Charge's future performance. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. All forward-looking statements, including those herein, are qualified by this cautionary statement.

Although Charge believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include the business plans and strategies of Charge, Charge's future business development, market acceptance of electric vehicles, Charge's ability to generate profits and positive cash flow, changes in government regulations and government incentives, subsidies, or other favorable government policies, and other risks discussed in Charge's filings with the U.S. Securities and Exchange Commission ("SEC"). Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release or as of the date or dates specified in such statements. For more information on us, investors are encouraged to review our public filings with the SEC which are available on the SEC's website at www.sec.gov. Charge disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Media Contacts:
Steve Keyes (248) 952-7022
Steve.keyes@centigrade.com

Investor Relations:
Christine Cannella (954) 298-6518
Ccannella@charge.enterprises

Carolyn Capaccio, CFA (212) 838-3777
Ccapaccio@lhai.com

SOURCE: Charge Enterprises Inc.

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FAQ

What benefits does Charge Enterprises (CRGE) gain from joining the Russell indexes?

Charge Enterprises' inclusion in the Russell indexes enhances its visibility among institutional investors and could attract more investment.

When was Charge Enterprises added to the Russell 3000 index?

Charge Enterprises was added to the Russell 3000 index effective June 27, 2022.

How does Charge's membership in the Russell indexes affect its stock performance?

Membership in the Russell indexes can improve Charge's stock performance by increasing its visibility and attracting institutional investments.

What is the significance of the Russell indexes for Charge Enterprises (CRGE)?

The Russell indexes are widely used by investment managers and institutional investors as benchmarks, potentially driving more assets to Charge Enterprises.