 HC2 Holdings, Inc. HC2 or the Company HCHC, a diversified holding company, today provided an update on previously announced strategic initiatives to monetize assets and further reduce debt. After advanced discussions with a potential counterparty, HC2s Board of Directors, supported by its management team, has elected to let the exclusivity period with the counterparty to purchase its 100-owned indirect subsidiaries Continental Insurance Group Ltd. and Continental General Insurance Company collectively, Continental Insurance lapse. HC2 continues to review strategic alternatives for Continental Insurance and DBM Global Inc., which may or may not include a potential sale, as well as other options that would be in the best interests of HC2. 