Reliance Global Plans Sale Of Two Non-Core Subsidiaries To Strengthen Balance Sheet

Reliance Global Group, Inc. (NASDAQ:RELI) ("Reliance," "we," "us," "our" or the "Company") today announced that it has entered into a non-binding letter of intent to sell its two subsidiaries, U.S. Benefits Alliance, LLC and Employee Benefits Solutions, LLC (together, "EBS"), two non-core agencies located in Cadillac, Michigan. The agreement is subject to execution of a definitive purchase agreement, as well as customary closing conditions. The Company expects the transaction to close within the next 30 days. The contemplated sale represents the ongoing execution of Reliance's strategy to monetize non-core assets, strengthen the balance sheet, and focus resources on its growth and technology-driven initiatives.