SEATTLE, July 24, 2012 (GLOBE NEWSWIRE) -- Plandai Biotechnology, Inc. (OTCBB:PLPL) a producer of highly bioavailable plant extracts, today announced that it has received the funds from the initial draw down on the 100 million Rand (US $13 million) loan from the Land and Agriculture Bank of South Africa. The total amount of the first draw was 49 million Rand (approx. $5.6 million USD).
Plandai Chairman and Chief Executive Officer, Roger Duffield, commented, "This initial draw is the first step in moving towards full-scale production of our highly bioavailable botanical extracts. These funds will allow us to complete the engineering of the plant and equipment and acquire the necessary components so that we can be operational in the 2013- 2014 tea season. Further drawdowns will provide the necessary investment to rejuvenate and operate the Senteeko Tea Estate as a modern and efficient farming enterprise that will produce high levels of polyphenolic catechin in quality green tea leaf l." Mr. Duffield continued; "Our daily expected processing output from the processing of live green tea leaf should yield between 400 -600 kg of extract; and during the dormant tea growing period, the extraction facility has the flexibility to be utilized to recover valuable bioflavonoids and limonoids from citrus fruits, giving the processing facility the ability to operate all year round."
Several epidemiological studies have shown beneficial effects of green tea in cancer, cardiovascular, and neurological diseases. The health benefits associated with green tea consumption have also been corroborated in animal studies of cancer chemoprevention, hypercholesterolemia, atherosclerosis, Parkinson's disease, Alzheimer's disease, and other aging-related disorders. However, the use of current green tea and green tea extracts as a cancer preventive or for other health benefits has been confounded by the low oral bioavailability of its active polyphenolic catechins, particularly epigallocatechin-3-gallate (EGCG).
The proprietary CRS hydrodynamic system developed by Plandai releases antioxidants that are recovered in the process in a form more readily absorbable in human tissue.
The Land and Agriculture Bank of South Africa (http://www.landbank.co.za/) is a specialist agricultural bank guided by a government mandate to provide financial services to the commercial farming sector and to agri-business and to facilitate access to finance by new entrants to agriculture from historically disadvantaged backgrounds.
About Plandai Biotechnology, Inc.
Plandai Biotechnology, Inc. focuses on the farming of whole fruits, vegetables and live plant material and the production of proprietary functional foods and botanical extracts for the health and wellness industry. Its principle holdings consist of land, farms and infrastructure in South Africa. Web site: http://www.plandaibiotech.com/
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