SACRAMENTO, California,
December 4, 2017 /PRNewswire/ --
RiceBran Technologies (NASDAQ: RIBT and
RIBTW) (the "Company" or "RBT" or "we"), a global leader in the
production and marketing of value added products derived from rice
bran, announced today that the Company has entered into a series of
agreements as a result of which it no longer holds a membership
interest in Nutra SA, thereby exiting its investment in Nutra
SA.
"We have recently concluded a series of actions to end our
ownership in Nutra SA," said Robert
Smith, CEO of RiceBran Technologies. "As previously
expressed, we are increasingly focused on growing our U.S.-based
ingredients business, and the exit of this investment following the
sale of our Healthy Natural subsidiary in the third quarter are
major steps in this effort."
When we finish the accounting review related to this exit, we
expect that this transaction will have a positive effect on our
shareholders' equity.
Additional information about our exit from Nutra SA can be found
in our current report on Form 8-K, which was filed with the
Securities and Exchange Commission on December 4, 2017.
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 the impact of exiting its investment in
Nutra SA on its shareholders equity. These statements are made
based upon current expectations that are subject to known and
unknown risks and uncertainties, including the risk that upon
completing RBT's accounting review, RBT will determine that there
are accounting charges relating to the sale of its membership
interest in Nutra SA that would cause exiting Nutra SA to have a
negative impact on its shareholders' equity. 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