| NutraCea Rejects Headquarters Lease |
NutraCea Rejects Headquarters Lease and Moves to More Cost Efficient OfficesPHOENIX, December. 3, 2009 —NutraCea (NTRZ), a world leader in stabilized rice bran (SRB) nutrient research and technology, announced today that its motion to reject its current headquarters lease and enter into a new less expensive headquarters lease was approved on November 30, 2009 by the U.S. Bankruptcy Court for the District of Arizona. Chief Executive Officer, W. John Short said, "We are pleased with the Court's decision to allow us to quickly move to more cost efficient headquarters. Our new space is approximately 75% smaller and over 80% less expensive. This new space will allow us to reduce our headquarters' rent by over $100,000 per month and is just one step in the process of reducing our corporate overhead." Effective Monday, December 7, 2009 NutraCea's new headquarters' address will be 6720 North Scottsdale Road, Suite 390, Scottsdale, AZ 85253. NutraCea filed a voluntary petition under Chapter 11 on November 10, 2009 in order to restructure its operations under court supervised protection. That filing did not include any of the Company's subsidiaries. About NutraCeaNutraCea is a world leader in production and utilization of stabilized rice bran. NutraCea holds many patents for stabilized rice bran (SRB) production technology and proprietary products derived from SRB. NutraCea's proprietary technology enables the creation of food and nutrition products to be unlocked from rice bran, normally an underutilized by-product of standard rice processing. More information can be found in the Company's filings with the SEC and by visiting our website at http://www.NutraCea.com. Forward-Looking StatementsThis release contains forward-looking statements, including statements regarding contemplated action to reduce corporate overhead. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the pending matters considered by the Company may not proceed as contemplated and the matters specified in the Company's filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. The Company 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 the Company's filings with the Securities and Exchange Commission, including the Company's most recent periodic report.
Source: NutraCea |
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NutraCea Events
- Petfood Forum 2010
April 12, 2010
- Texas Grain and Feed Assn. Convention
April 18, 2010
- Kentucky Equine Research Nutrition Conf...
April 26, 2010













