Long Blockchain Corp. Appoints Two New Members to its Board of Directors
January 02 2018 - 8:00AM
- New Members are Nominees of Lender in Recently
Announced Convertible Debt Facility -
Long Blockchain Corp. (NasdaqCM: LTEA) (the “Company”) today
announced the appointment of Shamyl Malik, Global Head of Trading
at Voltaire Capital, and Som Ghosh, a technology entrepreneur with
experience in blockchain technology, to its Board of Directors (the
“Board”). These appointments are nominees of the lender in the
Company’s recently announced convertible debt facility and are
consistent with the Company’s previously announced plan to shift
its primary corporate focus towards blockchain technology. Both Mr.
Malik and Mr. Ghosh are deemed to be independent directors under
the Nasdaq listing rules.
Philip Thomas, Chief Executive Officer of the
Company, commented, “We are thrilled to have Shamyl and Som join
the Board during this exciting period of growth and evolution. They
bring a wealth of experience and knowledge in the financial
technology sector, and we are confident that they will help to
shape the future of the Company as it pivots into blockchain
technology.”
Mr. Malik has been involved in the financial
technology sector for over the past decade. He currently serves as
Global Head of Trading at Voltaire Capital, a leading liquidity
provider in the foreign exchange market. Prior to joining Voltaire
Capital, he served as 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.
Mr. Malik began his investment banking career at Lehman Brothers,
working in both New York and London across various derivative
trading roles in fixed income, commodities and currencies. While
completing his Doctor of Philosophy degree in Econometrics at the
University of Oxford, Mr. Malik also performed economic research at
the International Monetary Fund and The World Bank in Washington
D.C.
Mr. Malik added, “I have a strong appreciation
of the technology landscape that the Company is shifting towards,
having worked throughout my career with financial technology and
its applications in the global financial markets. This is an
exciting time to be developing blockchain technology and I look
forward to helping the Company build a world-class
organization.”
Mr. Ghosh is a blockchain technology
entrepreneur with over eleven years of experience in technology and
computing, with its applications in investment banking, health and
wellness, asset management, algorithmic trading and cryptocurrency.
He was previously the co-founder and Chief Technology Officer of
London-based health-tech start-up Earthmiles. Prior to that, Mr.
Ghosh worked in quantitative trading and structuring roles at
Deutsche Bank, UBS and Societe Generale in Hong Kong and London. He
holds both a Bachelor’s degree and a Master’s degree in Chemical
Engineering from Indian Institute of Technology, Kharagpur. Mr.
Ghosh is a regular speaker at the London Python and London Django
Conferences.
Mr. Ghosh commented, “I first began working with
blockchain technology once I fully appreciated its ability to
revolutionize every facet of our lives, creating a more secure and
stable transfer of information around the globe. The Company has a
fantastic opportunity ahead of itself, as the industry is only in
the early stages of tapping into the full potential of blockchain
technology.”
About Long Blockchain Corp.Long
Blockchain Corp. (formerly Long Island Iced Tea Corp.) is focused
on developing and investing in globally scalable blockchain
technology solutions. It is dedicated to becoming a significant
participant in the evolution of blockchain technology that creates
long term value for its shareholders and the global community by
investing in and developing businesses that are “on-chain”.
Blockchain technology is fundamentally changing the way people and
businesses transact, and the Company will strive to be at the
forefront of this dynamic industry, actively pursuing
opportunities. Its wholly-owned subsidiary Long Island Brand
Beverages, LLC operates in the non-alcohol ready-to-drink segment
of the beverage industry under its flagship brand ‘The Original
Long Island Brand Iced Tea®’.
Forward Looking
Statements
This press release includes statements of the
Company’s expectations, intentions, plans and beliefs that
constitute "forward looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 and are intended to come within the
safe harbor protection provided by those sections. These
statements, which involve risks and uncertainties, relate to the
discussion of the Company’s business strategies and its
expectations concerning future operations, margins, sales, new
products and brands, potential joint ventures, potential
acquisitions, expenses, profitability, liquidity and capital
resources and to analyses and other information that are based on
forecasts of future results and estimates of amounts not yet
determinable. These statements include any statement that does not
directly relate to a historical or current fact. You can also
identify these and other forward-looking statements by the use of
such words as "may," "will," "should," "expects," "intends,"
"plans," "anticipates," "believes," "thinks," "estimates," "seeks,"
"predicts," "could," "projects," "potential" and other similar
terms and phrases, including references to assumptions. These
forward looking statements are made based on expectations and
beliefs concerning future events affecting the Company and are
subject to uncertainties, risks and factors relating to its
operations and business environments, all of which are difficult to
predict and many of which are beyond its control, that could cause
its actual results to differ materially from those matters
expressed or implied by these forward looking statements. These
risks include the Company’s history of losses and expectation of
further losses, its ability to expand its operations into
blockchain technologies, its ability to develop or acquire new
brands, the success of its marketing activities, the effect of
competition in its industry and economic and political conditions
generally, including the current economic environment and markets.
More information about these and other factors are described in the
reports the Company files with the Securities and Exchange
Commission, including but not limited to the discussions contained
under the caption “Risk Factors.” When considering these forward
looking statements, you should keep in mind the cautionary
statements in this press release and the reports the Company files
with the Securities and Exchange Commission. New risks and
uncertainties arise from time to time, and the Company cannot
predict those events or how they may affect it. The Company assumes
no obligation to update any forward looking statements after the
date of this press release as a result of new information, future
events or developments, except as required by the federal
securities laws.
Contacts:
For Investors
Philip Thomas
Long Blockchain Corp.
1-855-542-2832