B. Riley Financial Announces Carve Out Transaction with B. Riley Securities

B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley," the "Company" or "BRF"), a diversified financial services company, today announced that a formerly wholly-owned subsidiary of the Company has merged with Cascadia Investments, Inc. (OTC: CDIV) ("Cascadia"), a shell entity, as a result of which certain investors in Cascadia became minority stockholders of BRF's investment banking subsidiary, B. Riley Securities ("BRS").