Reliance Global Group, Inc. Announces Nasdaq Listing and Pricing of $10.8 Million Public Offering

Lakewood, NJ – (NewMediaWire) – February 08, 2021 – Reliance
Global Group, Inc. (NASDAQ: RELI) (“Reliance” or “Company”),
a company engaged in the acquisition and management of insurance agencies in
the United States, today announced the pricing of an underwritten public
offering of 1,800,000 shares of common stock and accompanying Series A warrants
at a public offering price of $6.00 per share and accompanying Series A warrant
for aggregate gross proceeds of $10,800,000 prior to deducting underwriting
discounts, commissions, and other offering expenses. In addition, the Company
has granted the underwriters a 45-day option to purchase up to an additional
270,000 shares and accompanying Series A warrants at the public offering price
less the underwriting discounts and commissions. The offering is expected to
close on February 11, 2021, subject to satisfaction of customary closing

The Company has received
approval to list its common stock and Series A warrants on the Nasdaq Capital
Market under the symbols “RELI” and “RELIW”, respectively, with trading
expected to begin on February 9, 2021.

Kingswood Capital Markets,
division of Benchmark Investments, Inc., is acting as representative of the
underwriters for the offering.

The United States Securities
and Exchange Commission (“SEC”) declared effective a registration
statement on Form S-1 relating to these securities on February 8, 2021. A final
prospectus relating to this offering will be filed with the SEC. When
available, copies of the final prospectus relating to this offering can be
obtained at the SEC’s website at or from Kingswood Capital Markets,
division of Benchmark Investments Inc., 17 Battery Place, Suite 625, New York,
NY 10004, Attention: Syndicate Department, or via email at or telephone at (212) 404-7002. Before investing in this
offering, interested parties should read in their entirety the prospectus,
which provides more information about the Company and such offering.

This press release shall not
constitute an offer to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state or jurisdiction.

About Reliance Global Group,

Reliance Global Group, Inc.
(NASDAQ: RELI) is moving forward with its goal to operate in the insurance
sector through its insurance brokerage agencies and online insurance
businesses, and potentially other sectors. RELI’s focus continues to be to grow
the Company by pursuing an aggressive growth strategy of acquisition
opportunities, including insurance agencies. Insurance agencies, as opposed to
insurance carriers, bear no insurance risk. The Company is controlled by
Reliance Global Holdings, LLC, a New York-based limited liability company,
which is the owner and operator of numerous companies with core interests
invested in real estate and insurance brokerage.

Forward-Looking Statements

This press release contains
forward-looking statements within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995. Statements
other than statements of historical facts included in this press release may
constitute forward-looking statements and are not guarantees of future
performance, condition or results and involve a number of risks and
uncertainties. Actual results may differ materially from those in the
forward-looking statements as a result of a number of factors, including those
described from time to time in our filings with the Securities and Exchange
Commission and elsewhere. The Company undertakes no duty to update any
forward-looking statement made herein. All forward-looking statements speak
only as of the date of this press release.

Crescendo Communications, LLC

(212) 671-1020

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