Reliance Global Group Inc (RELI)

[MMMQA]

Should be seeing a PR on the finalizing of this deal shortly.

Reliance Global Group, Inc. (OTC PINK: RELI), formerly known as Ethos Media Network, Inc., announces that it has a fully executed Letter of Intent to acquire 100% of an unaffiliated niche insurance agency. 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 2017. Completion of the acquisition is subject to the signing of a definitive purchase agreement, and due diligence (which is underway). RELI's lender has approved financing of the pending acquisition, subject to review of the agency's financial statements.

Ezra Beyman, RELI's CEO, stated, ''We are delighted with RELI's continuing to make acquisitions in the insurance agency space and intends to make acquisitions in the real estate sector as well. We have significant experience in both the insurance agency and the real estate sectors, and, at the appropriate time, we intend to become an SEC-reporting company again.''