Great Elm Capital extended a revolving line of credit, senior secured notes and term loans for RiceBran Technologies, which develops products derived from rice bran, to January 31, 2017.

The secured term notes and revolving line of credit were due to mature on December 31, 2016, as the company was exploring ways to repay the $2.8 million in loans. RiceBran now expects to have the necessary capital in place prior to the expiration of the extended maturity date of January 31, 2017.

“We are pleased to have received this extension from Great Elm Capital as we work diligently to secure the necessary capital to implement our strategic initiatives to expand revenue opportunities and maximize shareholder value,” Dr. Robert Smith, CEO and president of RiceBran, said. “We expect to obtain capital replacement financing in short order and look forward to beginning 2017 on better financial ground with a solid growth plan in place.”

RiceBran Technologies is a packaged functional food, functional food ingredient, human food ingredient and animal nutrition company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran.