VANCOUVER, British Columbia, May 15, 2013 (GLOBE NEWSWIRE) -- GLG Life Tech Corporation (TSX:GLG) ("GLG" or the "Company"), a 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 development of a strategic collaboration with China National Cereals, Oils, and Foodstuff Corporation ("COFCO") for the Chinese market. The two companies have been discussing a collaboration in stevia for the past number of months with a focus on developing products that will cater to promoting healthier food and beverage products and improving the social welfare of the Chinese people. The collaboration between the two companies will focus on three areas: (1) healthier food and beverage products, (2) technology & (3) investments. GLG expects that an official Letter of Intent will be signed in the coming weeks between the two companies that will detail the three areas of collaboration.
China is one of the countries in the world today with the largest populations of diabetics, with approximately 90 million diagnosed with this disease and the approximately 200 million people classified as obese. Both parties are focused on the health and social well-being of Chinese people in the development of products sweetened with stevia for zero or low calories.
Dr. Luke Zhang, Chairman and CEO of GLG, said, "I am delighted to be working on this collaboration with COFCO as we share the same mission to use stevia for the better health and welfare of the Chinese people through the development and distribution of zero and low calorie products as well as the development of stevia agriculture for the improved welfare of the Chinese farmer. We will continue to update our shareholders on this major strategic development in the coming weeks."
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.
About COFCO
COFCO is China's largest integrated agricultural, cereals, oils and foodstuffs processing enterprise, COFCO has been among the Fortune 500 for 19 consecutive years and is ranked No. 1 among the Top 100 in China's food industry.
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, discussing future-oriented costs and expenditures and discussing a collaboration with COFCO. 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.