SCOTTSDALE, AZ--(Marketwire - Oct 26, 2012) - RiceBran Technologies (OTCQB: RIBT), a global leader in the production and marketing of value added products derived from rice bran, today begins trading under the stock symbol "RIBT." Additionally, Mr. Robert C. Schweitzer, who was appointed to the Board of Directors on October 3, 2012, has been named our new Chairman. As Chairman, he will also lead the Executive Committee. Mr. Schweitzer has assumed those responsibilities from Mr. Ed McMillan, who will continue to serve as a member of the board.
CEO & President W. John Short commented, "We are excited to begin trading this morning under our new stock trading symbol RIBT. The new name and trading symbol reflects our focus on creating value from rice bran, one of the world's most underutilized food sources."
"I want to congratulate Bob on his election to chair the RiceBran Technologies board. His public company experience and successful career in banking and finance bring additional breadth and depth to our board," commented Short. "We look forward to Bob's guidance and seasoned leadership as we continue our efforts to make RiceBran Technologies the company we all know it can be."
"In addition, I want to offer special thanks to Ed McMillan for his steady hand and leadership as the past Chairman of our board while we navigated through one of the most challenging periods in the company's history. We are pleased that he will continue to provide guidance to the board and management."
For background information on Mr. Schweitzer and Mr. McMillan please refer to the corporate website at http://www.ricebrantech.com/BoardOfDirectors.
This release may contain forward-looking statements. 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.
About RiceBran Technologies
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. Rice Bran 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 human food ingredient and animal nutrition products. Our target markets are human food ingredients and animal nutrition manufacturers and retailers, as well as natural food, functional food and nutraceutical supplement manufacturers and retailers, both domestically and internationally. More information can be found in our filings with the SEC and by visiting our website at www.ricebrantech.com.