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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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1306 Hits

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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1259 Hits

Reliance Global Group, Inc. (OTC: RELI) Signs LOI to Acquire Real Estate Portfolio

NEW YORK, NY / ACCESSWIRE / January 17, 2019 / RelianceGlobal Group, Inc. (OTC PINK: RELI) ("RELI" or the "Company") is pleased to announce that it has signed an LOI to purchase 100% of a portfolio of 15 Multifamily Properties. The properties are located throughout the states of Ohio, Indiana, Kentucky, Michigan and Georgia. The properties are currently owned in a joint venture of which Mr. Beyman, CEO of RELI, is a part owner. The properties have been managed by Mr. Beyman and his entities from 2006 through today. The assets have an appraised value of nearly $80,000,000 and a Net Equity of approximately $24,000,000, according to an independent appraisal report from May 2017. The purchase of the properties is subject to a loan assumption ag...
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1271 Hits

Reliance Global Group, Inc. Disengages IR Firm and Provides Corporate Update

NEW YORK, NY / ACCESSWIRE / December 20, 2018 / Reliance Global Group, Inc. (OTC PINK: RELI) ("RELI" or the "Company") formally announces that it has disengaged KCSA as its Investor Relations Firm. We would further like to relay to our investors that we will NOT be performing a reverse split as part of our current growth plan. As previously announced RELI's plan is to continue executing on its focused strategy of pursuing acquisitions in the real estate and insurance agency sectors to fully leverage management's expertise in these industries. RELI's Chairman and CEO, Ezra Beyman, stated, "It has come to my attention that there has been a miscommunication regarding our plans, which the Company has taken prompt steps to address and mitigate. ...
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1321 Hits

Reliance Global Group, Inc. Provides Corporate Update and Outlines Strategy for Long-Term Growth

NEW YORK, NY / ACCESSWIRE / December 19, 2018 / Reliance Global Group, Inc. (OTC PINK: RELI) (''RELI'' or the ''Company'') announced a corporate update and its plans to continue executing on its focused strategy of pursuing acquisitions in the real estate and insurance agency sectors to fully leverage management's expertise in these industries. As part of this strategy, RELI is currently in negotiations with several affiliated and non-affiliated parties and expects to complete a number of substantial, material real estate transactions throughout the course of 2019. The Company will provide further details as they are available. The Company is pleased to provide an update on its recent activities toward increasing shareholder value by expand...
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1166 Hits

Reliance Global Group, INC. Completes Acquisition

Reliance Global Group Inc. Completes Acquisition of Commercial Solutions of Insurance Agency LLC NEW YORK, NY / ACCESSWIRE / December 11, 2018 / Reliance Global Group, Inc. (OTC PINK: RELI) ("RELI" or the "Company") is pleased to announce that it has completed the previously announced acquisition of an unaffiliated niche insurance agency, Commercial Solutions of Insurance Agency, LLC ("Commercial Solutions"), for a total purchase price of $1.2 million, consisting of cash and the issuance of 761,905 restricted RELI shares to Commercial Solutions' sole shareholder. Headquartered in Hackettstown, NJ, Commercial Solutions serves customers in several Northeastern states including NY, NJ, PA and MD. Commercial Solutions specializes in providing c...
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1220 Hits

Reliance Global Group, Inc. Engages Investor Relations Firm

Reliance Global Group, Inc. Engages KCSA Strategic Communications as Investor Relations Counsel NEW YORK, NY / ACCESSWIRE / December 10, 2018 / Reliance Global Group, Inc. (OTC PINK: RELI) ("RELI" or the "Company") is pleased to announce that it has retained KCSA Strategic Communications ("KCSA"), a leading New York-based communications firm, to support the Company's investor relations program. KCSA will employ a comprehensive communications program designed to increase awareness of RELI across the investment community. Since KCSA's inception nearly fifty years ago, the firm has developed a strong reputation for its innovative and dedicated work representing public companies. KCSA's objectives include, among others, communications, strategy...
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1133 Hits

Reliance Global Group, Inc. Accounces Engagement of Independent Auditor

NEW YORK, NY / ACCESSWIRE / December 6, 2018 / Reliance Global Group, Inc. (OTC PINK: RELI) ("RELI" or the "Company") is pleased to announce that it has retained Friedman LLP ("Friedman"), a PCAOB-registered CPA firm, to serve as the Company's independent auditors, effective immediately. The decision to engage Friedman was based on the Company's preference for a leading accounting and advisory firm. Additionally, Friedman has extensive experience working with a wide range of SEC-reporting public companies. Friedman LLP, headquartered in Manhattan with locations throughout New Jersey, Long Island, Philadelphia and Beijing, has been serving the accounting, tax and business consulting needs of public and private companies since 1924. Friedman ...
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1054 Hits