Reliance Global Group Inks MoU To Acquires Assets Of GPU Cloud Provider, Marketplace Operator For $3.375M At Closing; Co. To Pay $375K After 12 Months Of Closing

Reliance Global Group, Inc. (NASDAQ:EZRA) ("Reliance," "EZRA" or the "Company") today announced that on September 23, 2026, it executed a non-binding letter of intent (the "LOI") to acquire the assets of a GPU cloud provider and marketplace operator delivering on-demand computing infrastructure for AI training, inference and other demanding workloads. The proposed acquisition would mark Reliance’s entry into the AI cloud market, with plans to scale rapidly through investment in a Company-owned GPU fleet and expansion of the acquisition target’s proprietary marketplace.

The proposed acquisition is structured to result in no dilution to existing shareholders, as the purchase price is payable entirely in cash and no shares of the Company’s common stock will be issued as consideration for the acquisition, and the funds required to complete the transaction are already in place. Under the LOI, $3,375,000 is payable at closing, consisting of $3,000,000 in cash and $375,000 funded into escrow. A further $375,000 is payable 12 months after closing. Both $375,000 payments are subject to the achievement of specified milestones, and the Company will also pay $250,000 of consulting fees to the founder of the business over the 12 months following closing. The LOI also provides for an optional $500,000 investment by the Company in a related company of the seller. Reliance reiterated that it is debt-free, having retired 100% of its term debt. Due diligence is substantially complete, and the Company anticipates closing in early November 2026, subject to finalizing definitive agreements and satisfying applicable closing conditions.