NutraCea Meets Creditor Payment Obligations per Plan of Reorganization
(firmenpresse) - SCOTTSDALE, AZ -- (Marketwire) -- 10/13/11 -- NutraCea (OTCQB: NTRZ) (PINKSHEETS: NTRZ), a global leader in the production and marketing of value added products derived from rice bran, today announced that payments totaling in excess of $5 million in principal plus interest have been made to Class 6 general unsecured creditors pursuant to the Company's obligations under the Amended Plan of Reorganization (the "Plan"). In accordance with provisions of the Plan, NutraCea has paid Class 6 creditors 75% of the total amount due on or before October 15, 2011.
W. John Short, Chief Executive Officer of NutraCea, commented, "We are pleased to have met the October 15th payment benchmark as required under the Amended Plan of Reorganization. This is another major step toward satisfying all of our creditor obligations under the Plan and freeing up our management team's time to focus on our longer-term strategic vision of building additional rice bran bio-refining facilities and increasing our market penetration for stabilized rice bran. We expect to satisfy our remaining $1.6 million creditor payment obligations under the Plan between now and the final payment date of January 15, 2012."
Date: Thursday, October 13, 2011
Time: 4:00 p.m. Eastern
U.S. Dial-In: (877) 941-1427
International Dial-In: (480) 629-9664
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NutraCea is a world leader in production and marketing of value added products derived from rice bran. NutraCea holds many patents for stabilized rice bran (SRB) production technology and proprietary products derived from SRB. NutraCea's proprietary technology enables the creation of food and nutrition products to be unlocked from rice bran, normally an underutilized co-product of rice milling. NutraCea also produces rice based consumer health supplements which can be found at . More information can be found in the Company's filings with the SEC and by visiting the NutraCea website at .
This release contains forward-looking statements, including statements regarding expected payments to creditors pursuant to the Company's Amended Plan of Reorganization. These statements are made based upon current expectations that are subject to known and unknown risks and uncertainties. The Company does not undertake to update the forward-looking statements contained in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in NutraCea's filings with the Securities and Exchange Commission, including NutraCea's most recent periodic reports.
Alliance Advisors, LLC
Alan Sheinwald
President & Founder
(914) 669-0222
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Datum: 13.10.2011 - 07:00 Uhr
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News-ID 1045604
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