USA: RiceX announces $1.85 million debt retirement
The RiceX Company (OTCBB:RICX) announced yesterday that it has paid off its $1,850,000 loan to FoodCeuticals, LLC. The original loan was entered into in December 1998 and was to be paid by Dec. 31, 2000. The proceeds of the loan were used to complete the acquisition of the Centennial Foods production facility in Dillon, Montana. The original decision to purchase the Montana facility is now proving to be most fruitful. As previously announced, the RiceX Company recently quadrupled its production in this facility to accommodate the significant increases in the demand of its products.
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