SCOTTSDALE, Arizona,
March 30, 2017 /PRNewswire/ --
RiceBran Technologies (NASDAQ: RIBT and RIBTW) ("RBT"), a
global leader in the production and marketing of value added
products derived from rice bran, today announced that it will
relocate its corporate headquarters from Scottsdale, Arizona to 2928 Ramco Street,
Suite 120, West Sacramento,
CA 95691 on April 3, 2017.
This corporate relocation is a critical step toward the
implementation of the Company's previously announced strategic plan
to lower costs, improve EBITDA and raise shareholder value. This
move is intended to significantly reduce costs by consolidating the
Company's primary corporate activities within an existing
West Sacramento distribution
facility located in the heart of California's rice industry and allow the
company to build new and stronger relationships with industry
participants in the area, such as bran suppliers and ingredient
customers. The Company also believes it will be better
positioned to drive further product innovation by having greater
access to the world class scientists and technologies at UC Davis.
UC Davis provides a scientific resource that is widely recognized
in the areas of rice agriculture and processing, food and beverage
innovation, and animal nutrition research.
Dr. Robert Smith, CEO of RiceBran
Technologies, commented, "The relocation of our corporate
headquarters is an important step forward in the implementation of
our strategic plan to transform all aspects of our ingredient
business to a world-class level. With our recent financing
placing the Company on more solid financial footing, we are
methodically moving forward with this business realignment while we
step up our marketing efforts to generate scalable supply
opportunities with large CPG companies. We are dedicated to
delivering on the strategy we outlined in the fourth quarter and
seeing that effort lead to reduced operating costs, a better
ability to service our customers, and the creation of more
expansive revenue generating opportunities. We look forward
to continuing on our mission to achieve sustainable, cash
generating revenue growth for our Company in order to maximize the
value of our food technology and high value products for the
benefit of our shareholders."
About RiceBran Technologies
RiceBran Technologies is a food and animal feed ingredient
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 food and feed
ingredient products. Our global target markets are food and
feed manufacturers and retailers, as well as specialty food,
functional food and nutritional supplement manufacturers and
retailers. More information can be found in the Company's filings
with the SEC and by visiting our website
at http://www.ricebrantech.com.
Forward-Looking Statements
This release contains forward-looking statements, including, but
not limited to, statements about RiceBran Technologies'
expectations regarding lowering costs, improving EBITDA, building
stronger relationships and raising shareholder value. 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.
Investor Contact: Ascendant Partners, LLC, Fred Sommer, +(732)410-9810,
fred@ascendantpartnersllc.com
SOURCE RiceBran Technologies