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RiceBran Closes on $8MM Facility From Full Circle Capital

May 15, 2015, 07:29 AM

RiceBran Technologies closed on an $8 million three year debt facility with Full Circle Capital to provide working capital and term loans to facilitate future growth. The financing will take the form of a $3.5 million senior secured revolving working capital facility, a $2.5 million term loan and up to $2 million of additional term loans. 

Dale Belt, Chief Financial Officer, commented: "We are pleased to have closed on this important funding from Full Circle Capital.  This financing represents an important inflection point for our company that we believe will help us capitalize on the significant investments we have already made in plant capacity upgrades and product development.  We intend to put these funds to work in both our USA and Brazil segments to help drive significant top and bottom line growth at RBT in the quarters and years to come."

The company intends to use the proceeds from this financing as working capital and for capital expenditures to support revenue growth of its proprietary rice bran-based ingredients and turnkey product solutions from its USA Segment as well as its rice bran oil and derivatives production in Brazil.

Gregg J Felton, President & CEO of Full Circle Capital, commented, "Full Circle Capital is pleased to have closed this important financing with RiceBran Technologies.  RBT has established a position as a unique provider of healthy whole food nutrition products and we look forward helping the Company grow throughout 2015 and in the years to come."

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.

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