Landec Secures New Equipment and Real Property Loans to Support Planned Capacity Expansion

MENLO PARK, Calif., May 21, 2015 (GLOBE NEWSWIRE) — Landec Corporation (Nasdaq:LNDC), a leading developer and marketer of innovative and proprietary products for healthy living applications in the food and biomedical markets, has secured for Apio, Inc., Landec’s food subsidiary, a new equipment loan from Banc of America Leasing & Capital, LLC (“BofA”) and has replaced Apio’s current GE Capital equipment loan with a new equipment loan from GE Capital. In addition, Apio has entered into a new real property loan with GE Capital to expand its Hanover, PA facility to more than triple its current size by the end of calendar 2015.

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