GLG Life Tech Corporation (Nasdaq:GLGL) (TSX:GLG) ("GLG" or the
"Company"), the vertically-integrated leader in the agricultural
and commercial development of high quality stevia and all-natural
and zero-calorie food and beverage products, announces the results
of its 2011 Agriculture R&D Program.
The Company is pleased to announce that it has successfully
reached another milestone in its stevia seed propagation program
and that the Company's Huinong Three ("H3") proprietary stevia
varietal propagation is on schedule. We can now confirm that H3
will be available for planting in the 2012 growing season. These
new seeds provide GLG with a significant cost reduction in its
production of high-purity stevia extracts. This is due to both the
very high levels of rebaudioside A ("RA") naturally found in these
plants and the higher leaf yields produced from the larger H3
plants. The H3 plants have approximately 76% RA in the plant leaf,
which is 26% higher than the first generation (H1) seeds. In
addition, the H3 plants will generate 46% more leaf per acre than
the earlier H1 plants. RA is the sweetest component of the stevia
plant and the primary glycoside used to meet the market demand for
stevia sweeteners.
GLG is also announcing its next generation plant varietals. The
Huinong Four ("H4") is on track to be commercially available for
distribution to its contract farmers for the 2012 stevia growing
season. The H4 proprietary strain results show a 16% increase in
leaf yield over the H3 plants, while maintaining a similar 76% RA
content. This will result in further reductions to overall
production costs. The H4 seeds will play an important role, as
parents, in the advancement of the Company's next generation of
seeds – the H6 strain.
The GLG Agricultural R&D team has also developed a new
Huinong Five ("H5") plant strain this year, which has a seed
capable of producing a high amount of stevioside (STV). The H5
plant strain's STV content of approximately 70% makes it the
highest STV seed available in the world today, with a leaf yield
between the H2 and H3 strains. H5 will help GLG further reduce its
production costs of its BlendSure™ line of products, which has
already received its GRAS certification and a Letter of No
Objection from the FDA earlier this year.
GLG Chief Agricultural Scientist Mr. Qibin Wang stated, "I am
very pleased with the recent developments of our agricultural
R&D program. Under Dr. Luke Zhang's leadership, we have
progressively achieved several very significant milestones, with H4
and H5 following on the heels of the H1, H2 and H3 proprietary
stevia plant varietals. We will continue to innovate agriculturally
and to develop non-GMO, high yielding stevia strains that are
natural, sustainable, and provide value for our future growth."
GLG Chairman and CEO Dr. Luke Zhang commented, "GLG remains in
the forefront of the stevia industry with these important
agricultural achievements. Advancements such as these underline the
importance of our vertical integration from seed to shelf and our
control over the stevia supply chain. Leaf costs account for
approximately 65% of the cost to produce high purity stevia
extracts so our agriculture advances have the most significant
impact on reducing our product costs. We expect that global stevia
demand will continue to increase in the future as the cost of
stevia extracts decreases, and flavor and aftertaste challenges are
overcome. GLG has all the tools to address taste and cost
challenges that have impacted stevia's adoption in the past. We are
confident that stevia demand from the global market will increase
now that the aftertaste issue has been resolved by our recently
established AN0C Stevia Solutions Company, comprised of stevia and
Food & Beverage formulation specialists who work together and
have a deep understanding in both stevia and product formulations.
We expect to continue to lower our product costs through our
dedicated agricultural R&D program. GLG is in the leading
position to provide our customers both good-tasting stevia
solutions and low cost stevia-based sweeteners."
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
make it a leading producer of high purity, great tasting stevia
extracts. For further information, please visit
www.glglifetech.com
The GLG Life Tech Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7994
About AN0C™
AN0C focuses on the sale and distribution of all-natural
zero-calorie food and beverage products in China that are sweetened
with stevia provided by GLG Life Tech Corporation. GLG is a global
leader in the supply of high quality stevia extracts and holds an
80% controlling stake in AN0C with China and Healthy Foods Company
Limited (CAHFC) holding 20%. Dr. Luke Zhang, Chairman and CEO of
AN0C, is supported by an experienced team of senior executives
recruited from the beverage industry in China. For further
information, please visit www.an0c.com.
Forward-looking statements: This press release
contains certain information that may constitute "forward-looking
statements" and "forward looking information" (collectively,
"forward-looking statements") within the meaning of applicable
securities laws. Such forward-looking statements include, without
limitation, statements evaluating the market, potential demand for
stevia and general economic conditions and discussing
future-oriented costs and expenditures. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes" or variations
of such words and phrases or words and phrases that state or
indicate that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
While the Company has based these forward-looking statements on
its current expectations about future events, the statements are
not guarantees of the Company's future performance and are subject
to risks, uncertainties, assumptions and other factors which could
cause actual results to differ materially from future results
expressed or implied by such forward-looking statements. Such
factors include amongst others the effects of general economic
conditions, consumer demand for our products and new orders from
our customers and distributors, changing foreign exchange rates and
actions by government authorities, uncertainties associated with
legal proceedings and negotiations, industry supply levels,
competitive pricing pressures and misjudgments in the course of
preparing forward-looking statements. Specific reference is made to
the risks set forth under the heading "Risk Factors" in the
Company's Annual Information Form for the financial year ended
December 31, 2010. In light of these factors, the forward-looking
events discussed in this press release might not occur.
Further, although the Company has attempted to identify factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
As there can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements,
readers should not place undue reliance on forward-looking
statements.
Financial outlook information contained in this press release
about prospective results of operations, capital expenditures or
financial position is based on assumptions about future events,
including economic conditions and proposed courses of action, based
on management's assessment of the relevant information as of the
date hereof. Such financial outlook information should not be used
for purposes other than those for which it is disclosed herein.
CONTACT: Sophia Luke, Vice President of Investor Relations
Phone: +1 (604) 669-2602 ext 104
Fax: +1 (604) 662-8858
Email: ir@glglifetech.com
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