RiceBran Technologies Provides Update Regarding NASDAQ Listing Matters

SACRAMENTO, California, April 26, 2017

RiceBran Technologies (NASDAQ: RIBT, NASDAQ: RIBTW) ("RBT" or "Company"), a global leader in the production and marketing of value-added products derived from rice bran, today provided an update regarding the status of its compliance with the Listing Rules of the Nasdaq Stock Market ("Nasdaq").

As previously disclosed, on August 18, 2016, Nasdaq Staff notified the Company that it did not comply with the minimum $2.5 million stockholders' equity requirement for continued listing set forth in Listing Rule 5550(b)(1). The Company requested and was granted an extension to comply with this listing requirement by February 14, 2017. Upon receiving notification from Nasdaq that it had failed to regain compliance with this listing requirement, the Company requested and was granted a hearing which was held on March 30, 2017. At that hearing the Company provided a plan of compliance that included various components designed to increase stockholders' equity. Then the Company asked that the Panel grant it conditional listing through at least May 15, 2017, by which time it would demonstrate compliance with the minimum $2.5 million stockholders' equity requirement.

On April 7, 2017, the Company announced that it reached an agreement on March 31, 2017 with Alothon Group, LLC ("Alothon"), its minority co-investor in Nutra SA, that terminated Alothon's roll-up rights, a process that would have allowed Alothon to swap its equity position in Nutra SA for an equivalent value of RBT common stock. The elimination of those rollup rights will allow the Company to reclassify approximately $9.6 million of derivative warrant liability to shareholders' equity effective March 31, 2017. As a result, the Company believes it will report stockholders' equity for the period ended March 31, 2017 well above the $2.5 million minimum requirement when it reports its first quarter results on May 11, 2017.  

On April 24, 2017, the Company received a decision letter from Nasdaq stating that the Hearings Panel has granted the Company's request for continued listing provided that, on or before May 15, 2017, the Company shall have announced in a public filing (via Form 8-K or Form 10-Q) that it has equity of over $2.5 million. The Company must also at that time provide the Hearings Panel with updated projections showing stockholders' equity through May 2018.

Separately, and also as previously disclosed, RBT must regain compliance with Nasdaq's $1 minimum bid price requirement prior to the expiration of the automatic grace period provided for by Nasdaq rules, which currently affords the Company until September 6, 2017. This can be resolved by demonstrating the closing bid price of the Company's common shares of at least $1 per share for a minimum of ten consecutive trading days. If this appears unlikely as September 6, 2017 approaches, the Company is committed to taking actions that would enable it to regain compliance, including, if necessary, completing a reverse split of its common stock to increase its share price above the $1 minimum bid price.  

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