January 17, 2017 / 2:19 PM / 3 years ago

BRIEF-RCI announces sale of first of several non-income producing properties

Jan 17 (Reuters) - RCI Hospitality Holdings Inc -

* RCI announces sale of first of several non-income producing properties

* RCI Hospitality Holdings Inc says subsidiary closed on sale of property off us 820 in fort worth for $2.2 million in cash

* RCI Hospitality Holdings Inc says proceeds were used to pay off remaining $1.5 million balance of a related 11% balloon note, due in 2018, and related fees

* Says balance of proceeds will be used to repurchase stock, fund growth, or repay debt

* Says currently estimate planned sale of our seven other non-income producing properties could approximate $10 million in total proceeds Source text for Eikon: Further company coverage:

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