GLG Life Tech Corporation (TSX: GLG)(NASDAQ: GLGL) ("GLG" or the
"Company"), the vertically integrated leader in the agricultural
and industrial development of stevia extracts including research
and development, stevia plant growth, high purity extraction of
Rebpure™RA97 and Rebpure™RA95, marketing, and distribution, is
pleased to announce it has signed a definitive agreement in South
America and a binding memorandum of understanding (the "MOU") in
Australia, two key global markets, for the distribution and
marketing of its stevia extract products.
The Company is collaborating with the leading sugar refiner in
Australia, Sugar Australia, and Essentia Stevia, in these two
separate alliances. The agreement with Essentia Stevia is effective
immediately. The MOU with Sugar Australia is intended to result in
a definitive distribution agreement, subject to due diligence and
certain other conditions.
Australia is the world's third largest exporter of sugar, a $2
billion annual industry. Sugar Australia is the leading sugar
refiner in Australia operating across multiple business channels,
including, the supply of sugar as an ingredient into the food and
beverage sector, retail in which its CSR consumer brand has the
leading market share, as well as foodservice and exports. In
response to consumer demand Sugar Australia has launched a reduced
calorie product called CSR Smart®, which utilizes stevia extracts
in a unique and proprietary sugar blend to provide a 50% reduction
in calories.
Tim Hart, CEO of Sugar Australia, said, "Sugar Australia has
chosen to partner with GLG in the food and beverage sector to bring
a new and exciting range of stevia ingredients as part of our range
of sweetener solutions, as manufacturers seek alternatives in
developing healthier products that meet consumers' changing
needs."
GLG and Sugar Australia are working together across markets in
Australia, New Zealand, Singapore and the Pacific Islands.
In addition, GLG has also signed an agreement with Essentia
Stevia for the distribution and marketing of GLG's high quality
stevia extracts in 18 countries throughout Latin America. Essentia
Stevia will market GLG's entire portfolio of stevia-based
sweetening systems including the Company's premier Rebaudioside A
line Rebpure™ RA97, Rebsweet™ RA80 and AnySweet™ RA60 as well as
GLG's newly launched Sweet SuccessSM line of proprietary blends.
Products will be marketed both industrially and in consumer facing
brands.
Essentia Stevia has been working with key food and beverage
companies across the region, including Argentina, Bolivia,
Paraguay, Uruguay, Brazil, Venezuela, Colombia, and Mexico. In
addition, the Company will market its own tabletop brand Essentia®
using GLG stevia.
Lou Villalba, CEO of Essentia Stevia, states, "Essentia has
chosen GLG because of the quality of its products. GLG offers
reliability in delivery and sufficient amount of supply as demand
for stevia continues to increase. We have chosen GLG because of its
very strong brand and industrial name and are convinced that we can
achieve a win-win relationship with GLG in an area of the world
where they are aggressively pursuing positioning of their
products."
GLG's Chairman and CEO, Dr. Luke Zhang, comments, "We are
pleased with the developments in these key global markets and with
the collaborative opportunity with both Sugar Australia and
Essentia Stevia. The quality, purity and great taste of our stevia
extracts has enabled us to form partnerships with both of these
leading companies whose value, presence and brands command consumer
attention. Our global supply chain from seed to shelf gives our
customers the confidence and ability to market great tasting
products with the consistency, reliability and advantages required
to succeed in the marketplace."
About GLG Life Tech Corporation
GLG Life Tech Corporation is a global leader in the supply of
high purity stevia extracts, an all natural, zero-calorie sweetener
used in food and beverages. The Company's vertically integrated
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. GLG's advanced technology,
extraction technique and premier, high quality product offerings
including Rebpure™, Rebsweet™, AnySweet™ and the Company's newest
line Sweet SuccessSM, make it the leading producer of high purity,
great tasting stevia extracts.
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. 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 in the public documents filed by the Company with
Canadian and United States securities regulatory authorities.
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 David Bishop Executive Vice
President, International Affairs +1 (404) 229-0171 +1 (604)
844-2830 (FAX) info@glglifetech.com www.glglifetech.com
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