VANCOUVER, British Columbia, Oct. 27, 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, is pleased to announce that the United States Food and Drug Administration ("FDA") has issued a Generally Recognized as Safe letter of no objection for its high-purity Rebaudioside M stevia extract product. (Filing No. GRN 512). This letter confirms that the FDA has no questions regarding GLG's GRAS notice submitted earlier this year, in which GLG, through in-depth consultation with GRAS Associates, LLC, reported the results of its studies and its conclusion that Rebaudioside M is Generally Recognized as Safe ("GRAS").
Rebaudioside M ("Reb M"), also known as Rebaudioside X ("Reb X"), occurs naturally in the stevia leaf; it is one of the rarer steviol glycosides. Reb M, like other steviol glycosides, is valued for its commercial use as a zero-calorie natural sweetener. These glycosides are often used complementarily to achieve a desired sweetness and taste profile.
GLG's ability to produce Reb M commercially, now with the GRAS designation, further solidifies GLG's position as the preeminent provider of GRAS stevia extracts. To date, GLG has received six GRAS letters of no objection covering an array of high-purity stevia products; no other stevia company can claim such a mark. Furthermore, GLG has also submitted for review two more GRAS notices, one for high-purity Rebaudioside C and the other for high-purity Rebaudioside D. These latter glycosides, like Reb M, occur only in very small quantities within the stevia leaf.
In remarking on these achievements, Dr. Luke Zhang, Chairman and CEO of GLG, also emphasized GLG's 2014 agricultural program, under which GLG is furthering development of specialized stevia strains, always through non-GMO methods, that are expected to contain significantly higher levels of these otherwise relatively scarce glycosides. The 2014 program builds on the successful results already attained in the 2013 development cycle.
Additionally, GLG submitted earlier this year its GRAS notification to the FDA for its Luo Han Guo (Monk Fruit) extract products. These many submissions and certifications reflect GLG's commitment to ensuring that its full complement of naturally sourced sweetener products is compliant with the FDA GRAS program.
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. GLG'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. GLG is similarly positioning itself, through parallel vertically integrated Luo Han Guo operations, to be a leader in the supply of high-purity Luo Han Guo extracts. Additionally, to further meet the varied needs of the food and beverage industry, GLG has launched its Naturals+ product line, enabling it to supply a host of complementary ingredients reliably sourced through its R8 supplier network in China. For further information, please visit www.glglifetech.com.
Forward-looking statements: This press release may contain 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 regarding pending FDA review of GRAS submissions, future plans for GRAS submissions, and expected plans for or results of GLG's agricultural programs. 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.