Long Blockchain Corp. announced that the Board of Directors has appointed Shamyl Malik as Chief Executive Officer of the Company, effective immediately. Mr. Malik brings over a decade of financial technology experience to LBCC having held positions as Global Head of Trading at Voltaire Capital, Head of FX Electronic Trading at Morgan Stanley, and Head of Electronic Market Making for Emerging Markets and Precious Metals in the Capital Markets Division at Citibank.

He currently serves on the Company's Board of Directors, having been appointed on January 2, 2018, and as Chairman of the Company's Blockchain Strategy Committee. Philip Thomas, former Chief Executive Officer and Director of the Company who will be a member of the Board of Directors of LIBB once the spin-off is completed. The Board of Directors has also approved Management's intentions to pursue a spin-off of the Company's existing beverage subsidiary, Long Island Brand Beverages, LLC.

In connection with the foregoing, the Board of Directors has formed a beverage subcommittee, comprised of Bill Hayde, John Carson, and Tom Cardella, with responsibilities for appointing the Board and Chief Executive Officer of the spun-off company and to oversee the beverage business until the spin-off is completed.