VANCOUVER, British Columbia, Feb. 3, 2014 (GLOBE NEWSWIRE) -- GLG Life Tech Corporation (TSX:GLG) ("GLG" or the "Company") a global leader in the agricultural and commercial development of high quality natural sweeteners, announces that it has filed a patent with the State Intellectual Property Bureau of the People's Republic of China for its proprietary process for extraction and production of high purity Luo Han Guo (LHG) extracts as well as Luo Han Guo formulations used in food and beverage applications. The Company also plans to seek International Patent Protection under the Patent Cooperation Treaty for this patent.
The patent filing has two components, the first addresses GLG's proprietary industrial scale purification processes for LHG and the second addresses LHG formulations. Both components lever our patented and proprietary techniques developed for purification and formulating high purity stevia extract products. GLG expects that its proprietary LHG technology covered in this patent will result in higher yields of mogroside from the fruit and greater purity of extracts. The company is currently capable of producing LHG extracts up to 60% mogroside V purity and is working on 70 to 80% mogroside V extracts. These products are expected to be the highest available in the marketplace. Formulations in the patent cover a range of formulations including stevia/LHG blends.
Dr. Luke Zhang, GLG Chairman and CEO comments "We are delighted to make this announcement about our new patent filing. After a concerted effort by the GLG production and technology teams, we are extremely satisfied with our results of higher efficiency in extraction of mogroside from the LHG fruit and superior purification technology that results in higher levels of extract purity and efficiencies in the production process. Customers can expect a better grade of LHG extracts to work with in their food and beverage formulations and efficiencies are expected to drive lower production costs."
GLG has a strong track record for receiving patents in the People's Republic of China and previous patents have been awarded in the areas of stevia agriculture, stevia primary and secondary processing, waste water management and formulations.
Dr. Zhang states that with the LHG business opportunity, "GLG's goal is to be the vertically integrated leader in Luo Han Guo agriculture and production" within the next few years.
The Company has completed the majority of work to establish its fully integrated supply chain for Luo Han Guo including obtaining high quality LHG seedlings, contracting with LHG growers and storage facilities, and developing patent pending processing technology for high purity LHG extract and quality assurance/quality control processes. GLG plans to utilize its Runyang stevia processing facility to produce the extracts. Key remaining activities include the commencement of LHG planting this spring and minor modifications to its Runyang facility to enable LHG production. Production using this year's LHG crop is expected to start in the third quarter of 2014. GLG is currently working through the US FDA GRAS self-affirmation process for its LHG high purity extract products.
GLG's Mogroside V extract product samples are now available. For more information, please contact Shaun Richmond or refer to the GLG Naturals+ website, www.glgnaturals.com.
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. For further information, please visit www.glglifetech.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, 2012. 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.
CONTACT: Shaun Richmond, VP International Sales
Phone: +1 (604) 669-2602 ext. 110
Fax: +1 (604) 662-8858
Email: shaun.richmond@glglifetech.com
Stuart Wooldridge, Investor Relations
Phone: +1 (604) 669-2602 ext. 104
Fax: +1 (604) 662-8858
Email: ir@glglifetech.com
