NEW YORK, NY--(Marketwire - Jul 25, 2012) - Plandai Biotechnology, Inc. (OTCBB: PLPL) has announced they have drawn $5.6 million from their loan from the Land and Agricultural Bank of South Africa. "This initial draw is the first step in moving towards full-scale production of our highly bioavailable botanical extracts," stated CEO Roger Duffield.
Plandai, which focuses on production of proprietary botanical extracts for the health and wellness industry, is aiming its business at the fastest growing segment of nutraceutical market, functional foods. The global nutraceutical market is expected to maintain its track of steady growth through 2017 according to Research and Markets. (www.foodproductdesign.com/news/2012/03/functional-foods-fueling-global-nutraceuticals-ma.aspx)
Plandai has also recently reached an agreement with ZZ2, a private farming conglomerate in Southern Africa to acquire tomato waste from ZZ2 which will be processed to recover highly bioavailable antioxidants using the company's exclusive Hydrodynamic Extraction System.
To read more on Plandai Biotechnology, Inc., visit www.plandaibiotech.com
Other active nutraceutical companies are, Nutraceutical Int'l Corp (NASDAQ: NUTR), Aceto Corp (NASDAQ: ACET) and Nature's Sunshine Products (NASDAQ: NATR)
This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Information, opinions and analysis contained herein are based on sources deemed to be reliable and are subject to change without notice. A third party has hired and paid OTC Report one thousand two hundred and ninety five dollars for the publication and circulation of this news release. Accordingly, certain information included herein may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. However, no representation, expressed or implied, is made as to the accuracy, completeness or correctness. In light of the above, we accept no liability for any losses arising from an investor's reliance on or use of this report. We do not and have not had any ownership interest in said third party of any kind.