GLG Life Tech Corporation Announces Successful Harvest of Proprietary Seed; Expected to Result in an Estimated 40,000 Metric Ton
10 Dicembre 2009 - 12:30PM
Marketwired
GLG Life Tech Corporation (TSX: GLG)(NASDAQ: GLGL) ("GLG" or the
"Company"), the vertically integrated leader in the agricultural
and industrial development of high quality stevia extracts, is
pleased to announce that its stevia seed propagation program has
achieved a significant success that is expected to result in
considerable savings for the Company into the future. The GLG
Huinong One proprietary strain has shown commercial viability in
the field as a direct seed plant and is expected to enable the
Company, in 2010, to generate up to an estimated 40,000 metric tons
("MT") of GLG proprietary stevia leaf grown directly from seeds
without the use of greenhouses and seedlings as an intermediary
step.
GLG's stevia research and development team, led by Chief
Agricultural Scientist Qibin Wang, is pleased with this milestone
development which enables the Company to eliminate spending long
months growing seedlings in greenhouses which must then be
uprooted, transported, and replanted into the field. The
elimination of the greenhouse step is expected to also save time
and labor for the farmers with whom GLG partners.
The GLG Huinong One proprietary strain contains significantly
higher Rebaudioside A content, generates higher yields, and is also
more disease resistant than the China common market leaf. The
Company has been increasingly introducing its proprietary stevia
strains into the Company's exclusive growing areas. In 2009, the
Company estimates that 50% of its harvest contained GLG proprietary
leaf. In 2010, the Company expects to have the ability to harvest
100% of its own proprietary leaf, which would meet capacity at each
of its processing centers. This achievement is expected to lead to
greater processing efficiencies due to greater leaf yields.
Chairman and CEO Dr. Luke Zhang states, "We believe the quality
of our proprietary stevia leaf strain is unmatched. It is because
of our agricultural team's hard work over the last 10 years that we
have been able to maintain leading technologies in both agriculture
and industrial processing. This enables us to continually improve
the quality of our products and efficiency of our operations in
order to maintain our competitive edge and leading position in the
marketplace."
About GLG Life Tech Corporation
GLG Life Tech Corporation is a global leader in the supply of
high purity stevia, an all natural, zero-calorie sweetener used in
food and beverages. The Company's operations cover each step in the
stevia supply chain including non-GMO stevia seed breeding, natural
propagation, stevia leaf growth and harvest, proprietary extraction
and refining, marketing and distribution of finished product.
For further information, please visit www.glglifetech.com.
Forward-looking statements: This press release contains certain
information that may constitute "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian and United States securities laws, including statements
regarding the anticipated use of proceeds. These statements are
based upon assumptions that the proceeds of the Offering can
successfully be used as described above and there can be no
assurance that this will be the case. All statements relating to
plans, strategies, projections of results of specific activities or
investments, and other statements that are not descriptions of
historical facts may be forward-looking statements. Forward-looking
statements and information are inherently subject to risks and
uncertainties, and actual results could differ materially from
those currently anticipated due to a number of factors, which
include, but are not limited to, operational risks, the effects of
general economic conditions, changing foreign exchange rates and
actions by government authorities, uncertainties associated with
legal proceedings and negotiations, industry supply levels,
competitive pricing pressures and other risks and uncertainties
disclosed under the heading "Risk Factors" in the short form
prospectus and the registration statement on Form F-10, the
Company's Annual Information Form in respect of the year ended
December 31, 2008 and the risk factors in the Management's
Discussion and Analysis for the year ended December 31, 2008.
Forward-looking statements and information may be identified by
terms such as "may", "will", "should", "continue", "expect",
"anticipate", "estimate", "believe", "intend", "plan" or "project",
or similar terms or the negatives of these terms. Although we
believe that the expectations reflected in the forward-looking
statements and information are reasonable, we cannot guarantee
future results, levels of activity, performance, or achievements.
The Company's forward-looking statements and information reflect
the beliefs, opinions and projections on the date the statements
are made. The Company assumes no obligation to update
forward-looking information should circumstances or management's
estimates or opinions change, except as required by law.
Contacts: GLG Life Tech Corporation Brian Meadows Chief
Financial Officer +1 (604) 641-1368 +1 (604) 844-2830 (FAX) Email:
ir@glglifetech.com Website: www.glglifetech.com
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