SCOTTSDALE, Arizona,
October 3, 2013 /PRNewswire/ --
RiceBran Technologies (OTCQB: RIBT), a global leader in
the production and marketing of value-added products derived from
rice bran, today announced that it has entered into a multi-year
contract to sell certain of its proprietary Stage II product to
Zurvita Inc. a leading provider of consumer-driven healthcare
products.
Under the terms of the agreement Zurvita is committed to
purchase a minimum of $7.6 million of
the proprietary Stage II product through December 31, 2016. RiceBran Technologies is
contractually committed to provide Zurvita priority access to that
Stage II product being produced under patent in its Dillon, Montana plant. This agreement is a
significant next step in RiceBran Technologies' focus on developing
multi-year, strategic partnerships with key players across diverse
distribution channels to maximize the use of its proprietary and
patented process and production capabilities.
W. John Short, CEO &
President of RiceBran Technologies commented, "We are excited to
complete this multi-year contract with Zurvita as we move forward
with the re-launch of our Nutraceutical and Functional Foods (NFF)
business. With market demand requiring major consumer
products companies to deliver more products that are natural,
minimally processed, hypo-allergenic, gluten free and
non-genetically modified, we are particularly well positioned to
gain market share in this rapidly growing, high margin market
segment. With our corporate repositioning now largely behind
us, we intend to step up our marketing efforts to drive increased
sales in all NFF categories. We are committed to leveraging
our proprietary and patentedtechnologies to establish our
company as an innovative leader in this important industry for
years to come."
Forward-Looking Statements
This release contains forward-looking statements, including, but
not limited to, statements about RiceBran Technologies'
expectations regarding re-launch of the functional foods business,
future growth, positioning in the market of our products and the
development of multi-year strategic partnerships. These statements
are made based upon current expectations that are subject to known
and unknown risks and uncertainties. RiceBran Technologies
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 its
most recent periodic reports.
About RiceBran
Technologies
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.
RiceBran 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 http://www.ricebrantech.com.
Investor Contact:
Ascendant Partners, LLC
Fred Sommer
+(732)410-9810
fred@ascendantpartnersllc.com
SOURCE RiceBran Technologies