Concordis Group, Inc. Announces It Is In The Process Of Signing a Letter Of Intent With A Domestic Insurance Company

DESTIN, Fla., Oct. 19, 2012 /PRNewswire/ -- Concordis Group, Inc. (OTC Markets: CNGI), a growing financial holding company, today announced its CEO Thomas C. Blake is currently in the process of signing a letter of intent on the purchase of a domestic insurance company, as previously announced on Oct 4, 2012.

The Property and Casualty Insurance company, based out of Utah, specializes in construction insurance, receives between eleven to twelve million in premiums, and is admitted to do business in four states. 

Mr. Blake stated, "We expect to announce the signing of the letter of intent within the next ten days."

About Concordis Group, Inc.

Concordis Group, Inc. is a diversified holding company that provides business insurance solutions through its two wholly own subsidiaries: Concordis Insurance SPC (CISPC) and Concordis Capital, Inc.(CCI).  CISPC, a Cayman Island corporation, is a captive insurance company that specializes in structuring and managing alternative risk management solutions for mid-market companies.  CCI, a Florida corporation, provides captive cell funding for CISPC and other businesses and organizations.

Concordis Group's business strategy is based upon strong organic growth combined with strategic acquisitions of companies in the financial services and insurance industries that create additional synergy, have positive cash-flow, exhibit strong long-term growth potential, and have highly qualified management teams.

Contact:

Concordis Group, Inc.

Thomas C. Blake

Chief Executive Officer

(310) 472-4656

Safe Harbor for Forward-looking Statements

This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause the Company's expectations and beliefs about its operations, its services and service offerings, its results to fail to materialize. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.

SOURCE Concordis Group, Inc.




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