La Rosa Appoints Corporate Finance Executive Lourdes Felix to its Board of Directors

Celebration, FL, May 21, 2024 (GLOBE NEWSWIRE) -- La Rosa Holdings Corp. (NASDAQ: LRHC) (“La Rosa” or the “Company”), a holding company for five agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced that it has appointed Lourdes Felix to its Board of Directors. Ms. Felix was also appointed to serve as the Chairperson of the Audit Committee and as a member of the Board’s Compensation Committee and Nominating and Corporate Governance Committee.

Ms. Lourdes Felix is an accomplished entrepreneur and corporate finance executive with 30 years of combined experience in capital markets, public accounting and in the private sector. She currently serves as Chief Executive Officer, Chief Financial Officer, and a member of the board of directors of BioCorRx Inc. (OTCQB: BICX), a company focused on addiction treatment solutions and related disorders, where she has been since October 2012. Additionally, she is one of the founders and President of BioCorRx Pharmaceuticals Inc., a majority-owned subsidiary of BioCorRx Inc.

Prior to joining BioCorRx, her experience was in the private sector and public accounting. Since January 2023, Ms. Felix has also been serving as a member of the Board of Directors of Avalon GloboCare Corp. (Nasdaq: ALBT), as an independent director and the Chair of the Compensation Committee. Ms. Felix has expertise in finance, accounting, company-wide operations, budgeting, and internal control principles including GAAP, SEC, and Sarbanes-Oxley Act compliance. She has a thorough knowledge of federal and state regulations and has successfully managed and produced SEC regulatory filings. She also has extensive experience in developing and managing financial operations. Ms. Felix holds a Bachelor of Science in Accounting from the University of Phoenix.

Joe La Rosa, CEO of the Company, commented, “We are excited to welcome Lourdes Felix to our Board of Directors. We believe that her extensive experience in finance and executive management, combined with her dedication to improving operational efficiencies, will be invaluable to our company as we continue to execute on our roll-up strategy focused on acquiring profitable franchisees and other ancillary services. We believe that her insights and leadership will help drive our company forward, particularly in enhancing our financial strategies and operational processes. Ms. Felix’s proven track record in navigating complex regulatory environments and her commitment to innovation align perfectly with our goals, and we expect that her contributions will be instrumental in achieving our long-term objectives.”

Lourdes Felix added, "I am honored to join La Rosa's Board of Directors and eagerly anticipate contributing to the Company's growth and success. I believe that La Rosa is revolutionizing the real estate industry by providing agents with the choice of a revenue share model or an annual fee-based model with 100% agent commissions. I look forward to working with such a dedicated team to help advance our goal of reaching an annualized revenue run rate of $100 million by the end of 2024, with profitability anticipated in 2025."

About La Rosa Holdings Corp.

La Rosa Holdings Corp. (Nasdaq: LRHC) is disrupting the real estate industry by offering agents a choice between a revenue share model or an annual fee-based model with 100% agent commissions. Leveraging its proprietary technology platform, La Rosa empowers agents and franchisees to deliver top-tier service to their clients. The Company provides both residential and commercial real estate brokerage services and offers technology-based products and services to its sales agents and franchise agents.

La Rosa's business model is structured around internal services for agents and external services for the public, including residential and commercial real estate brokerage, franchising, real estate brokerage education and coaching, and property management. The Company has 21 La Rosa Realty corporate real estate brokerage offices and branches located in Florida, California, Texas, and Georgia. The Company also has 16 La Rosa Realty franchised real estate brokerage offices and branches and two affiliated real estate brokerage offices in the United States and Puerto Rico. 

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Forward-Looking Statements

This press release contains forward-looking statements regarding the Company’s current expectations that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, our ability to successfully integrate acquisitions into our business operations, customer acceptance of new services, the demand for the Company’s services and the Company’s customers' economic condition, the impact of competitive services and pricing, general economic conditions, the successful integration of the Company’s past and future acquired brokerages, the effect of the recent National Association of Realtors' landmark settlement on our business operations, and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission (the "SEC”). You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and other reports and documents we file from time to time with the SEC, including our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024. Forward-looking statements contained in this press release are made only as of the date of this press release, and La Rosa does not undertake any responsibility to update any forward-looking statements in this release, except as may be required by applicable law. References and links to websites have been provided as a convenience, and the information contained on such websites has not been incorporated by reference into this press release.

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