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RELIANCE

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Reliance Global Group, Inc. Announces LOI to Acquire Class A Multi-Family Property

LAKEWOOD, N.J., Aug. 19, 2019Reliance 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 due upon execution of the purchase agreement.

Upon completion of the acquisition, RELI anticipates completing an SEC-compliant audit of this multi-family property, to enable it to become a significant component of the assets and business of RELI when it becomes a SEC-reporting issuer again.

Ezra Beyman, CEO of Reliance Global Group, stated, “We are excited to announce the planned acquisition of this premier property. This acquisition is consistent with our strategy of acquiring undervalued properties with sustainable cash flows in attractive markets. The property is ideally located in an area experiencing strong job growth. This is reinforced by the 97% occupancy rate in the first phase of the project, as well as the fact that the second phase is already 40% leased and over 100% pre leased upon completion of construction. We look forward to providing further updates as the project progresses.”

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company in the real estate and insurance brokerage sectors, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New Jersey-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Cision View original content:http://www.prnewswire.com/news-releases/reliance-global-group-inc-announces-loi-to-acquire-class-a-multi-family-property-300903368.html

SOURCE Reliance Global Group, Inc.

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

LAKEWOOD, N.J., Aug. 14, 2019 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 complete the previously announced acquisition of another independent insurance agency, this one focused on employee benefits, in the third quarter of 2019, which we expect will further enhance our presence within the employee benefits sector. Upon completion of this latest acquisition, we expect to roll the Fortman Insurance Agency, as well as Southwestern Montana Insurance Agency and the agency which specializes in employee benefits, into Reliance Global Group. Upon completion of these three acquisitions by Reliance Global Group, we expect the annual revenue run rate of our combined agency business to be nearly $5 million, and cash flow positive.”

“These transactions are consistent with our strategy of acquiring growing, cash flow positive insurance agencies, where we can help drive top-line growth and improved profitability by leveraging our national infrastructure, first-class technology and our national sales and marketing platform. Towards this end, we recently acquired The Referral Depot (TRD), a software-based referral program created exclusively for the insurance industry. 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 Group or its affiliates for a commission split or other incentive.”

“In the real estate sector, our goal is to acquire multifamily properties totaling in excess of $500 million in appraised value within 1-2 years. Specifically, we are targeting properties priced below market with opportunities to maximize rent revenue. Once acquired, we are able to utilize our management expertise to derive increased cash flow from the properties. When a particular property achieves our capital appreciation targets, we may sell the property to capitalize on the higher value. Following this disciplined strategy, the principals of Reliance have successfully generated attractive risk-adjusted returns for the past 30 years.”

“Finally, we are making rapid progress completing the audit of our financial statements to become fully reporting with the U.S. Securities and Exchange Commission, which we expect to finish during Q4 2019. The June 30, 2019 quarter’s results include the high public company costs as well as expansion costs; however, upon integration of the acquisitions, we expect to generate meaningful economies of scale and positive cash flow. Our goal remains to list on a national exchange as soon as possible thereafter. I am also pleased to report we have now moved into our new corporate headquarters in a beautiful Class A office building in Lakewood, NJ and we invite our shareholders to schedule an appointment to visit and meet with management. Overall, we are extremely encouraged by the outlook for the business and look forward to providing further updates.”

About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company in the real estate and insurance brokerage sectors, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New Jersey-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Cision View original content:http://www.prnewswire.com/news-releases/reliance-global-group-inc-provides-business-update-and-reports-results-for-the-second-quarter-of-2019-300901226.html

SOURCE Reliance Global Group, Inc.

Reliance Global Group Inc. Acquires “The Referral Depot” and Provides Corporate Update

LAKEWOOD, N.J., Aug. 2, 2019Reliance 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 the software to verify the merits of this one-of-a-kind referral program. We are now offering this software at no charge and have been extremely pleased with the positive uptake among third-party insurance professionals across the U.S., who have begun to refer business to Reliance Global Group’s insurance agencies. Specifically, we have already onboarded agents across Michigan, Colorado, Louisiana, California, Florida and Texas. Year to date, our US Benefits Alliance subsidiary has added 70 referral agents in Michigan alone, and is looking to double this count leading up to the busiest time of the year, this fall, where over 85% of all new business is written.”

“With the acquisition now complete, we look forward to aggressively rolling out the TRD software across the U.S., as agents see the advantage of using this free software as compared to expensive insurance lead programs and mailers that typically don’t generate more than a 20% close rate. The historical closing rate with TRD is 53%; a stunning 165% higher return than the typical expensive lead program.”

Mr. Beyman concluded, “I am also pleased to report that within the third quarter, we expect to complete the previously announced acquisition of an independent insurance agency focused on employee benefits, with annual revenues of approximately $1.65 million. We expect this acquisition to further enhance our presence within the employee benefits sector, in which we already have a strong footprint. Financing has already been secured on this acquisition and the due diligence process is nearly complete. Upon closing, we plan to contribute this agency, as well as the previously announced Fortman Insurance Agency and Southwestern Montana Insurance Center, which were both acquired during the second quarter, to Reliance Global Group.”

The Company also reported that the audited financial statements for December 31, 2018, as well as the additional audits required for the individual agencies, remain on schedule for completion during 2019 thereby, enabling us to become a SEC reporting company again.

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Cision View original content:http://www.prnewswire.com/news-releases/reliance-global-group-inc-acquires-the-referral-depot-and-provides-corporate-update-300895533.html

SOURCE Reliance Global Group, Inc.