NutraCea Meets Creditor Payment Obligations per Plan of Reorganization
October 13 2011 - 9:00AM
Marketwired
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."
Conference Call Reminder: Date: Thursday,
October 13, 2011 Time: 4:00 p.m. Eastern U.S. Dial-In: (877)
941-1427 International Dial-In: (480) 629-9664 Live Webcast:
http://viavid.net/dce.aspx?sid=00008E27 Live Presentation URL:
https://www.livemeeting.com/cc/hscglobal/join?id=B2CMQB&role=attend&pw=w%7E%2F32T8tG
Downloadable Presentation:
http://www.nutracea.com/InvestorRelations
About NutraCea 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
http://www.nutraceaonline.com. More information can be found in the
Company's filings with the SEC and by visiting the NutraCea website
at http://www.NutraCea.com.
Forward-Looking Statements/Disclaimer 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.
NutraCea Investor Contact: Alliance Advisors, LLC Alan
Sheinwald President & Founder (914) 669-0222 Email Contact
www.AllianceAdvisors.net