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Reliance Global Group, Inc. Announces Purchase and Sale Agreement to Acquire Contiguous Multi-Family Property and Provides Corporate Update

LAKEWOOD, NJ, Oct. 29, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company") , today announced that Reliance Global Holdings LLC ("Reliance LLC"), RELI's affiliated privately-owned LLC, has signed a Letter of Intent (LOI) to acquire a multi-family property for a purchase price of $15.2 million. The property consists of 176 apartment units, built in the late 1990s, located in a strong market in the central region of the US. The property currently has a high 95% occupancy rate. Upon completion of the acquisition, RELI anticipates completing an SEC-compliant audit of this multi-family property, to enable it to become an important component of the assets and business of RELI when the Comp...
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Reliance Global Group, Inc. Announces Purchase and Sale Agreement to Acquire Contiguous Class A Multi-Family Properties

LAKEWOOD, N.J., Oct. 02, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company") , today announced Reliance Global Holdings LLC, ("Reliance LLC"), RELI's affiliated privately-owned LLC, has executed the purchase and sale agreement to acquire two contiguous Class A multi-family properties for a total purchase price of $42.5 million, following the signing of the letter of intent, as previously announced on August 19, 2019. The properties consist of approximately 260 apartment units located in a strong market on the East Coast. The first phase of construction, which consists of 117 units, was completed in 2017, and is 97% occupied. The second phase of construction, consisting of 143 apartm...
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Reliance Global Group, Inc. Acquires Altruis Benefit Consulting and Completes Transfer of Southwestern Montana Insurance Center and Fortman Insurance Agency From Affiliated Entity

Lakewood, NJ, Sept. 10, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company"), is pleased to announce that it has completed the acquisition of Altruis Benefit Consulting. The acquisition follows a letter of intent between the parties as previously announced on May 8, 2019. Headquartered in Bingham Farms, Michigan, Altruis serves customers throughout the entire State of Michigan, specializing in providing individual and group health insurance. Altruis generated revenue of approximately $2.5 million in 2018. The transaction was completed through a combination of $1.4 million of cash, provided by Reliance Global Holdings, LLC, a Company controlled by Ezra Beyman, CEO of RELI, as well as ...
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Reliance Global Group, Inc. Announces LOI to Acquire Class A Multi-Family Property

LAKEWOOD, N.J. , Aug. 19, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("Reliance," "RELI" or the "Company") , today announced it has signed a Letter of Intent (LOI) to acquire a Class A multi-family property for a purchase price of $42.5 million . The property consists of approximately 260 apartment units. The first phase of construction, completed in 2017, is 97% occupied. The second phase of construction is expected to be completed in 2020, and all of the completed units have been pre-leased, subject only to total completion of construction. The Company also announced that its affiliated privately-owned entity, Reliance Global Holdings, LLC, has transferred $250,000 to RELI, which is to be used as the initial down payment...
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183 Hits

Reliance Global Group, Inc. Provides Business Update and Reports Results for the Second Quarter of 2019

  PR Newswire LAKEWOOD, N.J., Aug. 14, 2019 LAKEWOOD, N.J. , Aug. 14, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("Reliance" or the "Company") , today provided a business update and reported financial results for the second quarter ended June 30, 2019 . The Company also reported that its new corporate website is live and available at www.relianceglobalgroup.com . Ezra Beyman , CEO of Reliance Global Group, stated, "I am pleased to report we are making tremendous progress on a number of fronts. Our affiliated privately-owned entity, Reliance Global Holdings, LLC completed the previously announced acquisition of Fortman Insurance Agency, LLC, as well as Southwestern Montana Insurance Agency. We are also on track to comp...
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Reliance Global Group Inc. Acquires "The Referral Depot" and Provides Corporate Update

PR Newswire LAKEWOOD, N.J., Aug. 2, 2019 LAKEWOOD, N.J. , Aug. 2, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company") , announces it has acquired The Referral Depot (TRD), a software-based referral program created exclusively for the insurance industry. As previously announced in November 2018 , the Company had entered into an exclusive partnering agreement with TRD. TRD's easy-to-use software streamlines the process for third-party insurance professionals to refer business, including policies they are unable to write, to Reliance Global or its affiliates for a commission split or other incentive. Ezra Beyman , CEO of Reliance Global Group, stated, "Since November, we have extensively tested and rolled-out...
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214 Hits

Reliance Global Group Inc. Announces Corporate Updates

PR Newswire LAKEWOOD, N.J., June 21, 2019 LAKEWOOD, N.J. , June 21, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company") , today provided business updates. As we have previously announced we are in the process of completing our audits so that we can become SEC reporting and take RELI to the next phase. Out of transparency for our shareholders, we will be releasing the audits as they are complete. To date, our 2017 RELI consolidated audit has been completed and will be posted on the OTC website. Additionally, we will also be posting portions of the independent third-party Due Diligence Reports for the two agencies recently acquired by RELI's affiliate, Reliance Global Holdings, LLC. The two agencies, Fortman...
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Reliance Global Group Inc. Announces Further Corporate Updates

PR Newswire LAKEWOOD, N.J., June 14, 2019 LAKEWOOD, N.J. , June 14, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company") , today provided additional business updates. The Company announced it has retained Crescendo Communications, LLC to provide investor relations and strategic advisory services for the Company. Crescendo is a leading New York -based communications firm, with broad experience representing public companies and helping build awareness within the investment community. The Company also reported it is still in the process of completing the audit of its financial statements, so that it can become a SEC-reporting issuer. The audits of the original three entities which RELI acquired are nearly comp...
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Reliance Global Group CEO Provides Letter to Shareholders Summarizing Key Milestones Achieved and Outlining Growth Strategy

PR Newswire LAKEWOOD, N.J., June 13, 2019 LAKEWOOD, N.J. , June 13, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company") , a diversified holding company in the insurance brokerage and real estate industries, today provided the following letter to shareholders from the Company's CEO, Ezra Beyman . "To our valued shareholders, Over the past nine months, since I became the Company's CEO, we have dramatically transformed the business and built the foundation for Reliance Global Group to become a premier holding company with diversified interests in the insurance and real estate markets. Specifically, we are focused on acquiring growing, cash flow positive insurance agencies at favorable multiples. The policies ...
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195 Hits

Reliance Global Group, Inc. Announces Letter of Intent to Acquire Two Commonly Owned Insurance Entities

PR Newswire LAKEWOOD, N.J., May 8, 2019 LAKEWOOD, N.J. , May 8, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company"), announces that it has fully executed two separate Letters of Intent to acquire 100% of each of two affiliated Medicare insurance agencies. Insurance agencies, as opposed to carriers, bear no insurance risk. One of the agencies is a nationally recognized marketing organization specializing in the Medicare insurance market. This agency operates in over 36 states, servicing over 1,300 downline insurance agents. This acquisition, when completed, is expected to provide top-level contracts and proprietary software that will provide unique solutions for quick and efficient sales and support for Med...
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196 Hits

Reliance Global Group, Inc. Announces Insurance Agency Acquisition

PR Newswire LAKEWOOD, N.J., May 3, 2019 LAKEWOOD, N.J. , May 3, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company"), is pleased to announce that RELI's affiliated privately-owned company Reliance Global Holdings, LLC has completed the previously announced acquisition of an unaffiliated insurance agency, Fortman Insurance Agency, LLC, for a total purchase price of $4.138 million , consisting of cash and the issuance of restricted stock. Insurance agencies, as opposed to carriers, bear no insurance risk. As RELI is in the process of completing its audited financial statements, in order to become a SEC- reporting issuer, this acquisition was purchased by Reliance Global Holdings, LLC, and will be transferred ...
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Reliance Global Group (OTC: RELI) will be attending and Sponsoring at the Planet MicroCap Showcase 2019 on May 1 in Las Vegas, NV

LAKEWOOD, NY / ACCESSWIRE / April 18, 2019 / Reliance Global Group (OTC PINK: RELI), a holding company for insurance agencies and real estate portfolios, will be at the Planet MicroCap Showcase on Wednesday, May 1, 2019, and will conduct 1on1 meetings on Thursday, May 2, 2019. The conference will be held April 30 - May 2, 2019 at Bally's Hotel & Casino in Las Vegas, NV - 3645 S Las Vegas Blvd., Las Vegas, NV 89109. For those interested in attending and meeting with management, you can register to attend here: https://planetmicrocapshowcase.com/signup If you have any questions about the Planet MicroCap Showcase, please contact Robert Kraft at This email address is being protected from spambots. You need JavaScript enabled to view it. (424) 227-9018, or visit www.planetmicrocapshowcase.com for more information....
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Reliance Global Group, Inc. Announces Completed Insurance Agency Acqusition And Company Update

PR Newswire NEW YORK, April 3, 2019 NEW YORK , April 3, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company"), is pleased to announce that RELI's affiliated privately-owned company Reliance Global Holdings, LLC has completed the previously announced acquisition of an unaffiliated niche insurance agency, Southwestern Montana Insurance Agency, for a total purchase price of $2.338 million , consisting of cash and the issuance of restricted stock. Insurance agencies, as opposed to carriers, bear no insurance risk. As RELI is in the process of completing its audited financial statements, in order to become a SEC- reporting issuer, this acquisition was purchased by Reliance Global Holdings, LLC, and will be transf...
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205 Hits

Reliance Global Group, Inc. Announces Continuation Of National Expansion Campaign And Additional Signed LOI

PR Newswire NEW YORK, March 14, 2019 NEW YORK , March 14, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company"), is pleased to announce the hiring of Brian Platte as Vice President of Medicare Sales, overseeing national business development and expansion for RELI's 100% subsidiary, US Benefits Alliance (USBA). As the President of Platinum Benefits Advisors, Brian brings a vast amount of experience operating as a Medicare FMO (Field Marketing Organization). Platinum Benefit Advisors is located in Michigan and has Medicare agents located in Ohio , Indiana , Tennessee , Michigan , Georgia and Texas . As a result of Brian's acceptance of his new position with USBA, USBA has signed a LOI to acquire his FMO, Plati...
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199 Hits

Reliance Global Group, Inc. Announces Launch Of Campaign For National Expansion Of US Benefits Alliance, And Additional Letter Of Intent To Acquire An Independent Insurance Agency

PR Newswire NEW YORK, Feb. 28, 2019 NEW YORK , Feb. 28, 2019 /PRNewswire/ -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company"), is pleased to announce it has arranged to commit significant funds, up to $1,500,000 , and has launched a national campaign to recruit independent health agents, brokers and National Marketing Organizations to market US Benefits Alliance's portfolio of insurance products. US Benefits Alliance, LLC, is a wholly owned subsidiary of RELI, and is focused on aggressive growth of our national health insurance brokerage and agent partnership arrangements. The investment of funds will be supplied by Reliance Global Holdings, LLC, of which Ezra Beyman , the CEO of RELI, is a principal. As part of the launch,...
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180 Hits

Reliance Global Group, Inc. Announces Launch of Campaign for National Expansion of US Benefits Alliance, and Additional Letter of Intent to Acquire an Independent Insurance Agency

NEW YORK, NY / ACCESSWIRE / February 25, 2019 / Reliance Global Group, Inc. (OTC PINK: RELI) ("RELI" or the "Company"), is pleased to announce it has arranged to commit significant funds, up to $1,500,000, and has launched a national campaign to recruit independent health agents, brokers and National Marketing Organizations to market US Benefits Alliance's portfolio of insurance products. US Benefits Alliance, LLC, is a wholly owned subsidiary of RELI, and is focused on aggressive growth of our health insurance brokerage and agent partnership arrangements. The investment of funds will be supplied by Reliance Global Holdings, LLC, of which Ezra Beyman, the CEO of RELI, is a principal. As part of the launch, US Benefits Alliance has hired Ste...
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Reliance Global Group, Inc. Corporate Update

NEW YORK, NY / ACCESSWIRE / February 19, 2019 / Reliance Global Group, Inc. (OTC PINK: RELI) ("RELI" or the "Company"). As noted in our recently filed Quarterly Report, we are involved in litigation with EMA Financial ("EMA"). To be clear, RELI's position in the litigation is that of the Plaintiff and NOT the defendant. The total shares at stake represent less than 1% of the total shares outstanding. Those shares are recently issued restricted shares, and are not publicly tradable. The number of shares in the "float," as reported at OTC Markets, is the same 31,979,700 shares. Management strongly believes this litigation will have no impact on our present and future business operations. As previously announced, RELI's plan is to continue exe...
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184 Hits

Reliance Global Group, Inc. (RELI) Announces Letters Of Intent To Acquire Two Independent Insurance Agencies

NEW YORK, NY / ACCESSWIRE / February 13, 2019 / Reliance Global Group, Inc. (OTC PINK: RELI) (''RELI'' or the ''Company'') announces that it has fully executed two separate Letter of Intents to acquire 100% of each unaffiliated insurance agency. Insurance agencies, as opposed to carriers, bear no insurance risk. One of the agencies to be acquired had premiums of approximately $7,500,000 (unaudited) in 2018. Additionally, this agency has been experiencing growth year over year. The agency specializes in Personal and Commercial insurance lines and is located on the West Coast, increasing RELI's presence there. The second agency to be acquired had revenues of approximately $525,000 (unaudited) in 2018. This agency specializes in placing health...
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184 Hits

Reliance Global Group, Inc. Announces Amended Loi For Insurance Agency Acquisition

NEW YORK, NY / ACCESSWIRE / February 6, 2019 / Reliance Global Group, Inc. (OTC PINK: RELI ) (''RELI'' or the ''Company''), announces that it has fully executed an amended Letter of Intent to acquire 100% of an unaffiliated niche insurance agency. The LOI, originally signed on November 19, 2018, has been amended and re-signed due to the conclusions of our third-party Due Diligence Firm, as a result of which RELI has re-negotiated a more favorable purchase price. The agency specializes in placing Group Health Insurance for businesses in the Northwest. Insurance agencies, as opposed to carriers, bear no insurance risk. The agency to be acquired had revenues of $1,500,000 (unaudited) in 2018. Completion of the acquisition is subject to the sig...
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Reliance Global Group, Inc. Signs Additional LOI to Acquire Real Estate Portfolio

NEW YORK, NY / ACCESSWIRE / January 31, 2019 / Reliance Global Group, Inc. (OTC PINK: RELI) (''RELI'' or the ''Company'') is pleased to announce that it has signed a Letter of Intent (LOI) with the owners to purchase 100% of a portfolio of four multifamily properties. The properties, located in Indiana, Ohio, Michigan and Georgia, are currently owned by a joint venture of which Mr. Beyman, CEO of RELI, is a part owner. The properties have been continuously managed by Mr. Beyman and his affiliated entities since 2006. The four multifamily properties being acquired by RELI have an appraised value of nearly $33,000,000 and a Net Equity of approximately $8,000,000, according to an independent appraisal report from November 2016. The purchase of...
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188 Hits