Business
Reliance Global Group Appoints David Lazar to Board of Directors
LAKEWOOD, NJ, May 18, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ Reliance Global Group, Inc. (OTCQB: RELI) ("RELI" or the "Company") today announced the
About this update from Reliance Global Group, Inc.
[{"type":"text","content":"LAKEWOOD, NJ, May 18, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ Reliance Global Group, Inc. (OTCQB: RELI) (\"RELI\" or the \"Company\") today announced the appointment of David Lazar as an independent member of the Company’s Board of Directors. As a result, the Board of Directors has increased to 5 members, including 3 independent directors, thereby meeting the independence requirements for a national exchange.\n Mr. Lazar brings domestic and international experience in operations, accounting, audit preparation, due diligence, capital restructuring, debt financing, and mergers and acquisitions. Mr. Lazar is currently the CEO of both Custodian Ventures LLC & Activist Investing LLC, which specialize in reverse merger and other event-driven opportunities. Ezra Beyman, CEO of Reliance Global Group, stated, “We are delighted to welcome David to the Board. He brings broad experience in public company management, having served as CEO of several OTC companies, providing them successful exit strategies. David’s skills in corporate finance and capital markets will be valuable as we enter the next phase of growth, including our acquisition strategy focused on undervalued insurance agencies that we can streamline and accelerate through our digital insurance platform powered by Nsure.com. We also continue to opportunistically pursue acquisitions in the multi-family real estate market where we see increased opportunities due to the current market. Importantly, as we continue to identify and evaluate distressed or undervalued acquisition opportunities his background working with such companies will be valuable. Additionally, we believe having an independent director of David’s caliber will assist us in achieving a listing on a senior national exchange, and help us to maintain the highest levels of corporate governance.” Mr. Lazar commented, “I am excited to join Reliance at this exciting time in the Company’s evolution. The insurance agency market has historically been resilient and less prone to volatility, while the current market uncertainty also presents attractive acquisition opportunities within both the insurance and real estate sectors. As a result of Reliance’s unique position in the market, I have been involved in a variety of strategic discussions with Nasdaq and NYSE companies that could potentially help accelerate the Company’s ...