、。
It may not be a lie, but it's close to a tall tale.
Literal
Lie [copula-ではない] [concessive-にしろ], tall-tale [to-に] close.
ホラ (from ほら吹き 'tall-tale blower') means an exaggeration or tall tale — not quite a lie, but stretched beyond truth. ~にしろ ('even if, granted that') is a concessive connector. The sentence draws a fine line between lying and exaggerating — a nuance Japanese has specific vocabulary for.