Business
Reliance Global Group, Inc. Announces Uplisting to OTCQB Venture Market
LAKEWOOD, NJ, Feb. 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Reliance Global Group, Inc. (OTCQB: RELI) ("RELI" or the "Company"), announces uplisting to
About this update from Reliance Global Group, Inc.
[{"type":"text","content":"LAKEWOOD, NJ, Feb. 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Reliance Global Group, Inc. (OTCQB: RELI) (\"RELI\" or the \"Company\"), announces uplisting to the OTCQB Venture Market (OTCQB).\n Ezra Beyman, CEO of Reliance Global Group, stated, “We are proud to officially mark RELI’s uplisting to the OTCQB Venture Market (OTCQB), and would like to thank our shareholders for your continued support as we worked towards this important milestone. Joining the OTCQB elevates Reliance's profile within the investment community, which we expect will help improve liquidity and broaden our shareholder base. We are preparing the 2019 audit to become fully SEC-reporting, and are diligently working on a variety of significant potential acquisitions to increase shareholder value. With our arrival to OTCQB, our next goal is to uplist to a senior national exchange such as the NASDAQ or NYSE, once we qualify for listing. We are excited for RELI’s future, and strongly believe there are bigger and better things to come!” The OTCQB Venture Market, operated by OTC Markets Group Inc. in New York City, is a premier market for entrepreneurial and development stage U.S. and international companies that are committed to providing investors high-quality trading and improved market visibility to enhance trading liquidity. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company verification and management certification process. The OTCQB quality standards provide a baseline for financial transparency and provide more comprehensive compliance requirements. The Securities and Exchange Commission (SEC) considers the OTCQB as an “established public market” for determining the public market price, allowing broker dealers and their customers to more easily trade stocks that may have been previously forbidden due to the confines of the less rigorous Pink Open Market standards. On January 29, 2020, the Company announced that John Lowy was joining the Board of Directors. However, it was determined that Mr. Lowy would not qualify as an independent director in accordance with OTC Markets’ new rules regarding independence of directors; and accordingly, he declined his nomination to the Board. As a result, the Board now consists of Ezra Beyman, Alex Blumenfrucht, Scott Korman and Ben Fruchtz...