VANCOUVER, British Columbia, June 4, 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 the United States Food and Drug Administration ("FDA") has issued a Generally Recognized as Safe ("GRAS") letter of no objection covering several of GLG's high-purity stevia extracts (Filing No. GRN 493). These extracts, each containing over 95% steviol glycosides (predominantly rebaudioside A and stevioside), include GLG's Rebsweet™ and AnySweetPLUS™ stevia extract products (with rebaudioside A content ranging from 50% to 85%).
The GRAS program is an FDA-approved process that enables companies to conduct independent GRAS determinations through consultations with qualified experts to determine that an ingredient satisfies the FDA's safety criteria. Accordingly, GLG engaged GRAS Associates, LLC, who convened an independent panel of expert scientists to spearhead the safety assessment and compile a dossier describing the months-long study and its results. GLG subsequently submitted that dossier to the FDA for review, resulting in the FDA's letter of no objection.
The latest GRAS designations further GLG's commitment to maintaining the highest quality standards for its products. To date, it has received five GRAS letters of no objection covering an array of high-purity stevia products, with a sixth GRAS determination pending FDA review (for high-purity rebaudioside M) and two other GRAS projects currently underway (for high-purity rebaudioside C and D). Additionally, GLG recently announced its submission of a GRAS notification to the FDA for its Luo Han Guo (Monk Fruit) extract products. GLG has the largest number of stevia products certified under the GRAS process, and remains committed to ensuring that each of its naturally-sourced sweetener products conforms with the GRAS compliance standards.
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 the 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, statements regarding the potential demand for stevia and general economic conditions and discussions of 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 that 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.