Reliance Global Group Inc. Enters $10 Million Common Stock Purchase Agreement with White Lion Capital
Reliance Global Group Inc. has entered into a significant agreement with White Lion Capital, LLC, as outlined in a recent filing. The contract involves a common stock purchase agreement, allowing White Lion to acquire up to $10 million worth of newly issued shares of Reliance Global's common stock, priced at $0.086 per share. This agreement includes an "Exchange Cap" and a "Beneficial Ownership Limitation," ensuring that White Lion cannot own more than 4.99% of the company's outstanding shares, though they may increase this to 9.99% with prior notice. Additionally, the contract stipulates that the issuance of shares will not exceed 19.99% of the company's outstanding stock unless certain conditions are met. This strategic partnership aims to enhance the financial flexibility of Reliance Global Group, subject to regulatory conditions and approvals.
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