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RiceBran Technologies Signs $8MM Revolver With TCA Global Credit Master Fund

May 29, 2013, 08:09 AM

Ricebrand Technologies, a global leader in the production and marketing of value added products derived from rice bran, announced today that it has signed an $8 million revolving credit facility with TCA Global Credit Master Fund ("TCA") to provide operating capital to support growth in the Company's USA and Brazil Segments.

An initial draw of $1.4 million under the facility was used to provide working capital for the Company's USA Segment and to fund an increase in capital at Nutra S.A./Irgovel, the Company's Pelotas, Brazil based rice bran bio-refinery. Additional draws under the facility are subject to continuing compliance with the terms of the revolving credit facility and to meeting additional conditions at the time of each future draw request.

W. John Short, CEO & President, commented: "We are pleased to have started a borrowing relationship with TCA Global Credit Master Fund. When traditional funding sources for small and microcap companies disappeared in the wake of the 2008/2009 financial crisis, TCA stepped in to provide an alternative. This revolving credit facility provides working capital necessary to grow our business with minimal dilution."

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