VANCOUVER, B.C., April 14, 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 submitted a Generally Recognized as Safe ("GRAS") notification with the United States Food and Drug Administration ("FDA") for its high purity Rebaudioside M stevia extract product.
This notification represents many months of work to develop the product and all required documentation under the FDA-administered GRAS process to demonstrate that GLG's Reb M extract meets the FDA's criteria for safety. This included in-depth consultation with GRAS Associates, LLC who convened an independent panel of scientists to spearhead this safety assessment.
GLG has now prepared and submitted six GRAS filings related to its stevia extract products --- the largest number filed by any company in the world today. GLG has three other GRAS projects underway for additional high purity stevia products and Luo Han Guo products that are expected to be released for review by the FDA in 2014.
GLG has the largest number of stevia products certified under the GRAS process including rebaudioside A products ranging from purities of 50 to 97%, high purity stevioside (STV) and now high purity rebaudioside M. Additional products currently underway for additional GRAS work include high purity rebaudioside C and high purity rebaudioside D. The company is also working on a GRAS application for Luo Han Guo extracts. GLG is committed to ensuring that their ranges of naturally sourced sweetener products are fully documented to comply with the FDA GRAS process.
GLG is also working through its 2014 agriculture development program that is focused on developing new varieties of stevia leaf that will contain higher amounts of the scarcer glycosides such as Rebaudioside C, D and M --- all through Non-GMO breeding. The Company had very encouraging results with 2013's program, and plans to continue to develop some of the more interesting varieties in 2014. For example, in some of the 2013 seedlings, more than double the average of rebaudioside C and rebaudioside D was achieved while still having high glycoside weight in the leaf and high rebaudioside A content. Our products will always be naturally sourced from the stevia leaf.
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, 2013. 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: Stuart Wooldridge, Investor Relations
Phone: +1 (604) 669-2602 ext. 104
Fax: +1 (604) 662-8858
Email: ir@glglifetech.com
