LAKEWOOD, N.J., March 12, 2020 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”), today announced that the Company has appointed Mazars USA LLP, a leading accounting, tax and consulting firm in the United States, as the Company’s new independent registered public accounting firm.
Ezra Beyman, CEO of Reliance Global Group, stated, “We are pleased to announce the recent appointment of Mazars USA, a nationally recognized accounting firm, as our new audit firm. Mazars USA is part of Mazars Group, which has over 40,000 professionals around the world in more than 90 countries. We believe this appointment is timely in light of the growth we have experienced, the addition of our new digital insurance strategy in partnership with Nsure.com, as well as our anticipated expansion both within the insurance and real estate verticals. Importantly, they have the resources, national footprint and sector expertise to support our aggressive acquisition plans. As previously reported, our 2019 audits are well underway with Mazars, and will be posted as they are completed. We would also like to thank Friedman, LLP for their guidance, expertise and support.”
Mazars USA replaces Friedman, LLP, as the Company’s independent auditor. There were no disagreements or unresolved issues with Friedman, LLP. The appointment of Mazars has been approved by the Board of Directors.
About Mazars USA
Mazars USA LLP is a high-performing accounting, tax and consulting firm with significant national presence in strategic U.S. geographies. Since 1921, our dedicated professionals have leveraged technical industry expertise to develop customized solutions for clients, create value, and Optimize their performance. We offer a broad array of industry specialists providing services to growth-oriented enterprises and individuals. As the independent US member firm of Mazars Group, we deliver seamless access to the expertise of more than 40,000 professionals in over 90 countries. At local and global levels, we are proud of our value-added services, building lasting relationships with our clients and communities. For more information, visit us at www.mazarsusa.com.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: 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.
LAKEWOOD, N.J., March 10, 2020 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”) today announced the appointment of Josh Colter as Chief Investment Officer & Head of U.S. Real Estate, effective March 10, 2020. Mr. Colter will be responsible for spearheading new acquisitions and dispositions, overseeing the underwriting process, developing capital partner relationships, and will manage the real-estate portfolios that will be purchased by Reliance Global Group.
Mr. Colter brings over 15 years of domestic and international real estate, private equity, and M&A advisory experience, including having closed more than $1.2 billion of multifamily acquisitions over the past five years. Most recently, Mr. Colter served as Director of Acquisitions & Finance at Robbins Property Associates, a full-service owner-operator of multifamily properties. Previously, Mr. Colter served as Managing Director for Lloyd Jones Capital, a private equity real estate investment, development & management company specializing in multifamily and senior housing. His background with sponsor/operators includes principal investing, asset management, acquisitions, and JV structuring with family offices and institutional groups. His experience includes roles with Exane BNP Paribas, Consultiva, Tavira Monaco SAM, Broad Street Securities Group and Bear Stearns. He graduated from the University of Central FL (B.S.) with a triple concentration in Finance, Accounting, & Economics, and completed a double master’s degree program (MSc) in Financial Economics and Risk & Investment Management from EDHEC Business School in France. Additionally, he is a Young Founder & President of the Mt. Sinai Foundation in Miami Beach, FL.
Ezra Beyman, CEO of Reliance Global Group, stated, “Josh is an outstanding and timely addition to the senior management team. Having closed over $1.2 billion in multifamily acquisitions over the past 5 years alone, his experience will be invaluable in accelerating the growth of our multifamily real estate portfolio. Moreover, his involvement within our real estate segment will allow us to allocate greater resources towards our acquisition/roll-up strategy within the insurance segment. Importantly, we believe our business model brings together the best of two worlds. First, we believe multifamily properties represent the most attractive asset class within the real estate market at this time, with the potential to generate highly attractive returns. At the same time, insurance is a very secure and predictable asset class, especially during volatile markets. By utilizing the Nsure.com platform to drive efficiencies and cost savings within our insurance agency portfolio, we believe we have developed a finely tuned business model that has the potential to drive significant shareholder value for years to come.”
The Company also reported that it is making progress on the 2019 audits, as previously announced, and expects to provide further updates shortly.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: 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.
LAKEWOOD, NJ, Feb. 26, 2020 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”), today announced that Ezra Beyman, Chief Executive Officer of Reliance Global Group, appeared on Proactiveinvestors.com to discuss the Company’s holdings, as well as its latest strategic partnership and investment into Nsure.com, America’s first licensed digital insurance agency®.
Ezra Beyman, CEO of Reliance Global Group, stated, “We appreciate this opportunity to share our vision for Reliance following our recently announced strategic partnership and investment into Nsure.com, which we believe marks a major catalyst and inflection point for our business. The US personal home and auto insurance markets alone are valued at approximately $340 billion in annual premiums with a mere 10% of the market now online. I truly believe this partnership has the potential to disrupt and transform the insurance sector like so many industries before, as the insurance market migrates from offline to online. We also look forward to utilizing Nsure.com’s proprietary backend processing technology to support our traditional agency business, which is expected to drive further efficiencies and cost reductions. We look forward to unveiling additional details related to our digital strategy in the months ahead, while continuing to execute on our M&A strategy in the real estate and insurance sectors. Towards this end, we look forward to participating in upcoming investor conferences, conducting open investor conference calls followed by a Q&A session, and taking advantage of other venues to increase our exposure within the investment community.”
Proactiveinvestors is a leading multi-media news organization, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of listed companies across the globe daily.
We would also like to note that the audits currently in progress for the remaining insurance subsidiaries are coming to a close and they will be posted once complete.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: 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.
Nsure.com poised to disrupt $340 billion home and auto insurance market
LAKEWOOD, NJ, Feb. 20, 2020 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“Reliance” or the “Company”), today announced that it has formed a strategic partnership with Nsure, Inc. (“Nsure.com”), America’s first licensed digital insurance agency®, and has consummated a $1 million direct investment representing the first in a series of planned investments, expected to total $20 million, at which time, Reliance Global Group would own 35% of Nsure.com with an option to acquire an additional 5%, bringing the total to 40% of Nsure.com. In connection with the strategic partnership, Nsure.com will provide back-end support for Reliance’s agency business, which is expected to drive significant efficiencies and cost reductions.
Nsure.com is a licensed online insurance agency that utilizes state of the art digital technology and represents over 30 top-rated insurance companies. Nsure.com’s mission is to empower insurance consumers by helping them choose the best carriers and policies. Nsure.com has a recurring revenue model that includes annual commissions on all policies, including renewals. Nsure.com currently operates within the state of Florida with plans to expand nationwide through the strategic partnership with RELI. Key benefits of the Nsure.com platform include:
Simplified application process – Nsure.com uses artificial intelligence and other advanced technologies to mine multiple data sources and auto-fill complicated insurance applications, e.g. home characteristics: construction type, roof shape, roof covering, foundation type, flood zone, etc.
Real-time connection with over 30 top-rated insurers allows consumers to transparently compare real, not estimated, quotes from multiple insurers side-by-side.
Instant accurate coverage recommendations for home and auto insurance, providing consumers confidence they are not under or over-insured.
In-house insurance buying/policy binding capabilities means no redirection to other websites and ability to finalize purchases on Nsure.com in as little as five minutes.
Free and secure account enables 24/7 access to quotes, policies and other documents.
When it’s time for a policy renewal, Nsure.com automatically informs customers about the best offers in the market before their policy expires.
Nsure.com has a team of licensed insurance agents available to answer any questions, and guide clients through the claims process. These agents are not salespeople, but rather licensed specialists trained to help customers with any insurance question.
Ezra Beyman, CEO of Reliance Global Group, stated, “We believe this strategic investment and partnership with Nsure.com will be a transformative event for the Company for two key reasons. First, we believe our equity investment into Nsure.com has the potential to drive massive value for our shareholders. Being on the front lines of the insurance agency business, we recognize that this is a market ripe for disruption like so many industries before, such as online shopping, online travel, etc. However, given the inherent regulatory hurdles, the insurance industry has been slow to adapt-until now. We conducted extensive due diligence into Nsure.com, and believe their technology addresses all the key hurdles necessary for consumer adoption. Nsure.com has developed proprietary technology that makes it quick and easy for consumers to compare and buy insurance online, enabling them to save time and money. The US personal home and auto insurance market is valued at approximately $340 billion in annual premiums and more than $34 billion in recurring annual insurance agency commissions. We estimate that a mere 10% of the market is now online. As this market migrates from offline to online, we believe Nsure.com will be at the forefront of the industry. Moreover, the current insurance purchasing processes is time consuming and lacks transparency. It is estimated that Americans overspend for their home and auto insurance by $30 billion annually. Most of the current online sites are simply lead generators, which result in false insurance quotes, constant spam and aggressive sales pitches. Consumers are looking for a partner website they can trust. For this reason, we look forward to working closely with Nsure.com to help foster their success and drive value for both consumers and our shareholders.
“The second key benefit of this transaction is that we will now be able to utilize Nsure.com’s proprietary backend processing technology to support our traditional agency business. Specifically, we can focus on growing revenues, by acquiring traditional ‘offline’ home and auto agencies, while Nsure.com can more cost effectively service the acquired policies. By implementing artificial intelligence, robotic process automation (RPA) and automatic shopping for best rates at renewals, we believe we can dramatically reduce costs, and allow our agents to focus on selling new policies, creating a digitally empowered and scalable insurance agency model. Through continued M&A of cash flow positive and accretive acquisition, we look forward to rapidly expanding our network nationwide. We believe the competitive advantages offered by aligning with Nsure.com will support our accelerated growth and drive massive value creation.”
“Our Florida customers love Nsure.com because of the exceptional ‘Amazon-like’ insurance shopping experience. This planned $20M financing from Reliance will be used to fuel Nsure.com’s nationwide expansion, with a goal to establish a strong presence in markets covering more than 80% of U.S. population by the end of 2021,” said Wojtek Gudaszewski, CEO of Nsure.com. “This investment partnership is also timely, as the insurance sector is undergoing rapid transformation. According to FT Partners report, in 2019 total financings within the insurance technology marketplace reached $4.4 billion, representing 76% growth over the same period last year. Companies like Hippo Insurance, Lemonade and Root have each surpassed $1 billion valuations. We look forward to deploying this capital towards accelerating product development, expanding our team, building partnerships with mortgage originators and acquiring new customers.”
About Nsure.com
Based in Florida, Nsure.com is the first all-digital licensed insurance agency that provides auto and home insurance via its secure website. Employing the most advanced data technology to track up-to-the-minute, real, not estimated, quotes from more than two dozen insurance carriers, Nsure.com enables customers to take complete control of the insurance buying process on their smartphones, tablets and computers. The company’s platform delivers a hassle-free experience, from a streamlined application process and instant quotes to no sales pitches and a simple renewal process that automatically updates quotes just prior to expiration so that customers can take advantage of the best rates and coverage possible.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: 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.
LAKEWOOD, N.J., Feb. 13, 2020 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”), today announced that it has entered into a binding agreement, whereby the Company will form a strategic partnership and make a direct investment into a first-in-kind digital insurance agency. The agreement is subject to certain closing conditions.
Ezra Beyman, CEO of Reliance Global Group, stated, “We are on the cusp of consummating a potentially transformative event for the Company. We have the necessary funds in hand to complete the first phase of the transaction, which is expected to close imminently, and look forward to providing further details that we believe will illustrate how significant this event may be for RELI. Just as other brick-and-mortar industries have been disrupted through digital technologies, the insurance sector is widely anticipated to be one of the next to follow. In addition to our strategic investment, we look forward to coupling this technology platform with our growing portfolio of cash flowing insurance agencies, which should further enhance our efficiency and profitability.”
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: 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.
LAKEWOOD, NJ, Feb. 04, 2020 — via NEWMEDIAWIRE – Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”), announces uplisting to the OTCQB Venture Market (OTCQB).
Ezra Beyman, CEO of Reliance Global Group, stated, “We are proud to officially mark RELI’s uplisting to the OTCQB Venture Market (OTCQB), and would like to thank our shareholders for your continued support as we worked towards this important milestone. Joining the OTCQB elevates Reliance’s profile within the investment community, which we expect will help improve liquidity and broaden our shareholder base. We are preparing the 2019 audit to become fully SEC-reporting, and are diligently working on a variety of significant potential acquisitions to increase shareholder value. With our arrival to OTCQB, our next goal is to uplist to a senior national exchange such as the NASDAQ or NYSE, once we qualify for listing. We are excited for RELI’s future, and strongly believe there are bigger and better things to come!”
The OTCQB Venture Market, operated by OTC Markets Group Inc. in New York City, is a premier market for entrepreneurial and development stage U.S. and international companies that are committed to providing investors high-quality trading and improved market visibility to enhance trading liquidity. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company verification and management certification process. The OTCQB quality standards provide a baseline for financial transparency and provide more comprehensive compliance requirements. The Securities and Exchange Commission (SEC) considers the OTCQB as an “established public market” for determining the public market price, allowing broker dealers and their customers to more easily trade stocks that may have been previously forbidden due to the confines of the less rigorous Pink Open Market standards.
On January 29, 2020, the Company announced that John Lowy was joining the Board of Directors. However, it was determined that Mr. Lowy would not qualify as an independent director in accordance with OTC Markets’ new rules regarding independence of directors; and accordingly, he declined his nomination to the Board. As a result, the Board now consists of Ezra Beyman, Alex Blumenfrucht, Scott Korman and Ben Fruchtzweig, which satisfies the independence requirements for OTC Markets.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: 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.
Appointments Fulfill Key Steps Towards Meeting the Requirements of OTCQB Venture Market and Listing on a National Stock Exchange
LAKEWOOD, NJ, Jan. 29, 2020 — via NEWMEDIAWIRE – Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), today announced that Ben Fruchtzweig and John Lowy have joined the Company’s Board of Directors. The Company also announced that Ben Fruchtzweig and Scott Korman, a current member of the Board, have joined the Audit Committee of the Board of Directors.
Ezra Beyman, CEO of Reliance Global Group, stated, “We are delighted to welcome John and Ben to the Board of Directors. They both bring decades of legal, financial and capital markets experience, which we believe will be invaluable as we continue our growth at a national level. At the same time, we are pleased to announce the appointments of Ben and Scott to the Audit Committee of the Board. We remain committed to the highest levels of corporate governance as we position ourselves as a premier holding company in the real estate and insurance sectors. Moreover, we believe we now meet the requirements of the OTCQB Venture Market (OTCQB) and are moving forward towards our goal of listing on a national exchange. As previously reported, our OTCQB application has been submitted and we believe we are close to final approval.”
Ben Fruchtzweig brings decades of executive experience in accounting and financial services. He has served as Chief Comptroller/Financial Analyst at national financial services and investment companies. He received his NYS C.P.A license in 1987 and has worked at Deloitte Haskins and Sells and other leading accounting firms. Currently, Mr. Fruchtzweig lectures on a variety of topics including business ethics. He also serves on a voluntary basis as a trustee of a non-profit private foundation, which serves to provide the needed financial support, services and guidance to qualifying individuals and families. Mr. Fruchtzweig graduated Magna Cum Laude from Queens College/ C.U.N.Y. in June 1985.
John Lowy is the founder and senior partner of the law firm John B. Lowy PC and is also founder and CEO of Olympic Capital Group, Inc. (“Olympic”), founded in 1993. The law firm specializes in corporate and securities laws and has represented clients from various industries that have gone public via IPOs and reverse mergers. Olympic is a boutique NY-based investment banking firm, which specializes in assisting its clients, both public and private companies, in raising capital, both debt and equity, and has raised capital in hundreds of transactions. Mr. Lowy is a FINRA-registered Series 79 investment banker. He is a graduate of Tufts University and the University of Pennsylvania Law School and is a licensed attorney in New York and New Jersey.
Mr. Korman currently serves as President of Nashone, Inc., a private equity firm, which he founded in 1984. In this role, Mr. Korman is involved in financial advisory, M&A, and general management assignments. He is a founder and Managing Partner of Convergence Merchant Bank, as well as founder and CEO of Illumina Radiopharmaceuticals LLC, CEO of Red Mountain Medical Holdings, Inc., and founder of CDx Medical Holdings, Inc. Mr. Korman previously served as Chairman of Da-Tech Corporation, a Pennsylvania based contract electronics manufacturer and as Chairman and CEO of Best Manufacturing Group LLC, a leading manufacturer and distributor of uniforms, napery, service apparel, and hospitality and healthcare textiles. Mr. Korman also served as President and CEO of Welsh Farms Inc., a full-service dairy processor and distributor of milk, ice cream mix and ice cream products. Mr. Korman received a B.S. degree in Economics from the University of Pennsylvania Wharton School. He has served as a member of the Board of Directors of Tofutti Brands, Inc. since December 2011, and advises companies including Damina Advisors, CFO Squad, Beis Capital LLC and Cinch Delivers LLC. He also serves on the boards of various not-for-profit groups and was the founder of the Englewood Business Forum.
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.
LAKEWOOD, NJ, Jan. 14, 2020 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), today announced the completion of the Company’s 2018 consolidated audit by Friedman, LLP, the Company’s independent registered public accountant. The audit will be available on the OTC Markets website.
Ezra Beyman, CEO of Reliance Global Group, stated, “We are pleased to announce the completion of our 2018 audit, which fulfills an important requirement towards our planned listing on the OTCQB Venture Market (OTCQB). Our OTCQB application has been submitted and we are awaiting approval. We are on track to list on the OTCQB with a goal to list on a national exchange later thereafter. Overall, we have made significant financial and operational progress, as illustrated by the fact we are now at an annual revenue run in excess of $7 million with over $17 million of assets as of September 30, 2019. We are further evaluating several other potentially significant opportunities, consistent with our strategy of identifying undervalued and accretive acquisition targets.”
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.
LAKEWOOD, NJ, Dec. 30, 2019 — via NEWMEDIAWIRE – Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), today provided a year-end update for shareholders.
Ezra Beyman, CEO of Reliance Global Group, stated, “2019 was an eventful year for Reliance Global Group. Most recently, we executed the contract to acquire a 260-unit multi-family property and announced a letter of intent to acquire a multi-family property consisting of 176 apartment units. These acquisitions are consistent with our strategy to acquire undervalued multi-family properties with sustainable cash flows in attractive markets. All our acquisitions are subject to strict due diligence, and we are currently evaluating several other potentially significant opportunities.
“We also continue to execute on our acquisition strategy in the insurance sector by identifying undervalued, and accretive transactions that leverage our national infrastructure. In September, we completed the acquisition of Altruis Benefit Consulting, which specializes in providing individual and group health insurance. We also transferred both Southwestern Montana Insurance, a group health insurance company providing employee benefits insurance to groups and individuals, as well as Fortman Insurance Agency, LLC, which provides personal and commercial insurance lines, into Reliance Global Group from the Company’s affiliate, Reliance Global Holdings LLC. As a result, we have now acquired six insurance agencies, collectively operating at a revenue run rate in excess of $7 million and have identified additional potential acquisitions to help further scale the business.
“In addition to our operational progress, we recently submitted our application to list on the OTCQB, an important stepping-stone towards our planned listing on a national exchange. Our independent auditors have substantially completed the audit and despite the holiday-related delays, we now expect to complete and announce our audited financial results in early January 2020. Overall, we remain extremely encouraged by the outlook for business, and believe that we have built a solid foundation for growth. In addition to our recent and planned acquisitions, we have identified additional targets to help further scale the business and drive cash flow going forward. 2020 is shaping up to be another exciting year for Reliance Global Group, and I would like to wish all our shareholders a happy and healthy New Year.”
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.
LAKEWOOD, N.J., Dec. 19, 2019 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTC: RELI) (“RELI” or the “Company”), today announced that the Company has applied for OTCQB Venture Market (OTCQB) listing. The listing is subject to delivery of the Company’s 2018 consolidated audit by Friedman, LLP, the Company’s independent registered public accountant, which is substantially completed and will be posted immediately thereafter. Upon listing on the OTCQB, the Company will continue to trade under the symbol “RELI.”
Ezra Beyman, CEO of Reliance Global Group, stated, “Submitting our application for the OTCQB is an important stepping-stone towards our planned listing on a national exchange. We believe the move to the OTCQB will provide greater transparency and increased exposure, as many broker dealers are unable to trade or recommend OTC Pink stocks.”
Mr. Beyman continued, “This is an exciting time for the Company, as we continue to execute on our business plan. It is important to note that our 2018 audited financial results will not reflect the acquisitions in 2019, which put us at a revenue run in excess of $7 million with over $17 million of assets as of September 30, 2019. Moreover, we have identified additional acquisitions we believe will help further scale the business and contribute to enhancing our balance sheet and cash flow going forward. Overall, 2019 has been an eventful year and we look forward to a number of significant developments as we head into the new year.”
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.
