SACRAMENTO, California,
September 14, 2017 /PRNewswire/
--
RiceBran Technologies (NASDAQ: RIBT and RIBTW) (the
'Company' or 'RBT'), a global leader in the production and
marketing of value-added products derived from rice bran, announced
today that Continental Grain Company, one of the oldest food and
agribusiness companies in the world, has entered into an agreement
to purchase 2.7 million shares of RiceBran Technologies common
stock from the Company for $2.9
million. The total number of shares issued to Continental
Grain Company represents 16% of RBT's issued and outstanding common
stock on a post transaction basis.
"We are pleased that Continental Grain Company is making a
significant investment in our company's future," said Dr.
Robert Smith, President and CEO of
RBT. "Continental Grain Company is one of the oldest food and
agribusiness companies in the world with a long history of pursuing
strategic investment opportunities in food and agribusiness."
Established in 1813 as a grain trading firm based in what is now
known as Arlon, Belgium,
Continental Grain Company grew to become one of the largest
privately held companies in the world.
Ari Gendason, Senior Vice
President - Corporate Investments at Continental Grain Company and
a member of RBT's Board of Directors, added, "The RBT team has made
substantial progress in the past year towards its strategic
objectives, from focusing on its rice bran business to
significantly strengthening its financial condition and lowering
operating costs. RBT's stabilized rice bran and proprietary
ingredient products provide better-for-you ingredients that
consumers are increasingly demanding from food companies and
Continental Grain Company has a long history of seeking out
expansion opportunities in this space making this a good strategic
fit for both companies. We look forward to RBT's continued
progress."
About RiceBran Technologies
RiceBran Technologies is a food, animal nutrition, and specialty
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, animal nutrition and specialty ingredient products. Our
global target markets are food and animal nutrition 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 its future business relationship with
Continental Grain Company. 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
Richard Galterio
+1(732)410-9810
rich@ascendantpartnersllc.com
SOURCE RiceBran Technologies