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Reliance Global Group, Inc. Announces Appointment of Scott Korman to Board of Directors

LAKEWOOD, NJ, Dec. 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE --Reliance Global Group, Inc. (OTC: RELI) ( "RELI" or the "Company"), today announced that Scott Korman has joined the Company's Board of Directors.

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.

Ezra Beyman, CEO of RELI, stated, "As a successful private equity investor, CEO, and advisor to numerous companies, we are delighted to welcome Scott to the Board of Directors. He brings extensive financial, operational, M&A, and capital markets experience, all of which we believe will benefit Reliance as we execute our strategy to acquire undervalued and accretive businesses that leverage our national infrastructure and core expertise within the real estate and insurance markets. Moreover, as an independent board member, his appointment brings us another step closer towards our goal of listing on a national stock exchange."

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.

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