Brief: RiceBran Technologies and Narula group establish JV, supply agreement

RiceBran Technologies

09/02/2016 14:00

Feb 9 (Reuters) - RiceBran Technologies  RIBT.O : 
 * RiceBran Technologies and the narula group, one of the 
   world's largest growers of organic rice, enter into strategic supply 
   partnership and establish joint venture 
 * Says ribt will gain exclusive worldwide supply and distribution rights for 
   organic jasmine rice bran 
 * Says narula group will acquire up to 950,000 shares of ribt at $2.80 per 
   share 
 * Says ribt and narula group will form a company to market additional narula 
   group organic products in North America 
 * To get worldwide supply and distribution rights for organic rice bran from 
   other rice varieties produced by the narula group 
 * Exclusive territory excludes certain south east Asian mkts, Germany and UK, 
   which will continue to be serviced by narula group 
 * Narula group to accept first $2.7 million of achieved margin share via 
   issuance of 950,000 shares of co's common stock 
 
 * Source text for Eikon  urn:newsml:reuters.com:*:nPn562dCZ 
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