RiceBran Technologies(TM) Closes Second Draw Under TCA Revolver
Additional $600,000 Supports Operating Needs in US and Brazil
(firmenpresse) - SCOTTSDALE, AZ -- (Marketwired) -- 07/19/13 -- RiceBran Technologies (OTCQB: RIBT), a global leader in the production and marketing of value added products derived from rice bran, announced today that it has closed on its second draw under the TCA Global Credit Master Fund ("TCA") $8 million credit facility.
The second draw of $600,000 under the facility was used to provide working capital for the Company's USA Segment and to fund an increase in capital at Nutra S.A./Irgovel, the Company's Pelotas, Brazil based rice bran bio-refinery. Additional draws under the facility are subject to continuing compliance with the terms of the revolving credit facility and to meeting additional conditions at the time of each future draw request.
W. John Short, CEO & President, commented: "We appreciate the support of the TCA team in working with us to accomplish this second draw. We look forward to building our relationship significantly with TCA over the coming months and years."
This release may contain forward-looking statements. 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 forward-looking statements 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 RiceBran Technologies' filings with the Securities and Exchange Commission, including the Company's most recent periodic reports.
RiceBran Technologies is a human food ingredient and animal nutrition company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran. Rice Bran Technologies has proprietary and patented intellectual property that allows us to convert rice bran, one of the world's most underutilized food sources, into a number of highly nutritious human food ingredient and animal nutrition products. Our target markets are human food ingredients and animal nutrition manufacturers and retailers, as well as natural food, functional food and nutraceutical supplement manufacturers and retailers, both domestically and internationally. More information can be found in the Company's filings with the SEC and by visiting our website at .
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Datum: 19.07.2013 - 06:00 Uhr
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News-ID 1247031
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