VANCOUVER, B.C., Dec. 3, 2012 (GLOBE NEWSWIRE) -- GLG Life Tech Corporation (TSX:GLG) ("GLG" or the "Company"), a global leader in the agricultural and commercial development of high quality stevia products, announces that on November 30, 2012 Health Canada approved the use of stevia in food and beverages. Prior to this approval, stevia was available only within natural health product applications. Stevia is a natural zero calorie sweetener that has a zero glycemic index and can be used by diabetics. The approval means that consumers across Canada will soon be able to enjoy a similar range of stevia sweetened products to those already available in the United States and the European Union where stevia is already approved for use in food and beverages.
GLG is a Canadian corporation and is privileged to be working with a number of Canadian companies incorporating stevia in the product development process in anticipation of Health Canada's approval. There has been a significant increase in projects using GLG stevia over the last several months since Health Canada has made steps forward in approving stevia for use within food and beverages. Although numerous food and beverage companies have been proactively working with the ingredient prior to this notice, this approval provides the confidence required for many of these organizations to invest further in the R&D and formulation work and expedite these projects.
"GLG has been investing in the stevia supply chain for many years and holds patents in agriculture and processing and is a global leader with its processing capacity and agricultural capabilities. We have invested over $100 million in developing our physical plant assets and agricultural assets over the past 5 years. We have customers using our stevia across the world and we are very proud that as a Canadian company we will now see stevia in widespread use in Canada," said Brian Meadows, President and CFO.
GLG already has customers in Canada and distributor partners in place to service the Canadian consumer's needs.
The Company's Director of Sales, Shaun Richmond, commented that, "Each of our ingredient distributors brings a wealth of expertise in the sweetener category and the benefit of having very strong ties to the food and beverage industry. Our vertical integration offers our Canadian distributor partners a significant advantage, with supply chain transparency and traceability and very competitive pricing accorded by our third generation stevia leaf. Working alongside our knowledgeable formulators on our AN0C Stevia Solutions Team, our distributors can confidently offer their customers product formulation expertise that will greatly assist in fast-to-market product development solutions using our high-purity stevia extracts and proprietary blends. We market and sell our products globally and it is with great pride that we introduce stevia within food and beverage products to the consumers in our own backyard."
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. Through its consumer food products subsidiary, AN0C, the company formulates and markets a wide range of stevia sweetened beverages and foods products within the Chinese marketplace – a true seed to shelf model. For further information, please visit www.glglifetech.com.
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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, 2011. 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.