The RiceX™ Company (OTC:RICX) announced today that it has completed an international sales agreement with Prodesa Productos Estabilizados S.A. (Prodesa) to sell nearly $2.5 million worth of its nutrient dense ingredient, RiceX™ Solubles over the next 12 months.
2.5 Million Dollar Sales Agreement
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Prodesa, a Guatemalan market development organization, will import RiceX™ Solubles into Guatemala for use in a Government sponsored, nutrition enhancement program. The RiceX Solubles will be used as the major nutrient ingredient in a series of high nutrition drinks supplied to Guatemalan school children at the community level. The Guatemalan sales agreement was developed in collaboration with Intermark Partners Strategic Management LLC.
Marketing Plan Implementation
Dr. Glenn H. Sullivan, Managing Member of Intermark Partners Strategic Management LLC, commented, “Once the initial school feeding program is fully implemented through Prodesa and The Christian Children’s Fund (CCF), we expect to expand the nutritionally enhanced school dietary program into other Latin American countries. CCF operates in over 30 countries worldwide in collaboration with local governments to enhance the caloric and dietary needs of school age children. This program follows the RiceX Company’s current strategic plan for developing markets for nutritionally dense ingredients internationally, and we are confident that this breakthrough will pave the way for significant international growth for RiceX products.”
RiceX Comments
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By GlobalDataDan McPeak, Sr, Chairman and CEO of The RiceX Company, commented, “We are very pleased to have completed the sales agreement with Prodesa. They have developed an extremely effective product delivery system for our all natural, highly nutritious RiceX(TM) ingredients. We are confident that the Guatemalan school feeding program will be a model for taking RiceX™ products into the international marketplace on a broad scale in the future. The Prodesa contract is guaranteed with Foreign Agricultural Service (FAS) backing in Guatemala and prepayment has been made for the first six months product delivery schedule.”
Mr. McPeak, Jr, VP Marketing and General Manager of RiceX, continued, “RiceX was founded on the premise that stabilized rice bran could play a dominate role in helping to relieve world hunger and nutrition problems. Our Stabilization and processing technology is the cornerstone, capturing a highly nutritious food source which otherwise is being wasted worldwide. The Guatemalan program positions RiceX on the leading edge of supplying an all natural, nutritionally dense ingredients to the international marketplace.”
The RiceX™ Company manufactures and distributes nutritionally dense foods and food ingredients made from its stabilized rice bran that add significant nutritional benefits to food and consumer products. The company believes it is the only company in the world that can deliver all natural, nutritionally dense stabilized rice bran products with the shelf life and nutritional profile demanded by most commercial users.
SOURCE: THE RICEX(TM)COMPANY
‘Safe harbor’ statements under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of the competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company’s filings with the Securities and Exchange Commission.
