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As of 3:59 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

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glg life tech corp (GLG) Details

GLG Life Tech Corporation is engaged in the research and development, growing, refining, production, and distribution of stevia extract to the food and beverage industry worldwide. Stevia extract is a natural sweetener extracted from the stevia plant. The company was formerly known as GLG Life Tech Limited and changed its name to GLG Life Tech Corporation in March 2007. GLG Life Tech Corporation was founded in 2005 and is headquartered in Vancouver, Canada.

268 Employees
Last Reported Date: 03/31/14
Founded in 2005

glg life tech corp (GLG) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: --
President, Chief Financial Officer and Corpor...
Total Annual Compensation: C$250.0K
Vice President of Sales
Total Annual Compensation: C$105.4K
Compensation as of Fiscal Year 2013.

glg life tech corp (GLG) Key Developments

GLG Life Tech Corporation Announces Agreement to Supply Global Food Industry Leader with Luo Han Guo

GLG Life Tech Corporation announced that it has signed an agreement under which it will produce and supply Luo Han Guo (Chinese monk fruit) extract products to one of the global leaders in the food industry. GLG expects revenues from this twelve-month agreement to be in the range of $9 to $12 million (USD), and notes that achieving these revenues will be dependent on both the market price for Luo Han Guo fruit as well as the Company's conformance to the customer's product specifications. While initially encompassing a one-year term corresponding to the 2014 growing season, harvest, and subsequent production, GLG and the customer have the express option to extend the agreement over future years. This agreement not only marks GLG's entry into the Luo Han Guo production and supply space, it also immediately positions GLG to be a leading producer of Luo Han Guo products, and will enable the Company to capitalize significantly on its efforts over the past year. GLG previously announced that it had developed a vertically integrated supply chain for the Luo Han Guo business, including agriculture and advanced processing and purification capabilities. Earlier this year, GLG filed in China a patent for its Luo Han Guo processing technology. The company has also undertaken the GRAS self-affirmation of its Luo Han Guo extract products and, in May 2014, submitted its notification to the FDA of self-affirmed GRAS status.

GLG Announces GRAS Notification with FDA for High-Purity Rebaudioside C

GLG Life Tech Corporation announced 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 C 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 Rebaudioside C 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 believes that it is the first company to submit GRAS notification to the FDA for Rebaudioside C. Consistent with its role as a leader in the sweetener industry, GLG continues to be at the forefront of stevia-related GRAS certifications. It has large number of stevia products certified under the GRAS process including high-purity Rebaudioside A and other Rebaudioside A products, high-purity stevioside, high-purity Rebaudioside M and now high-purity Rebaudioside C. Additionally, GRAS work is currently underway for high-purity Rebaudioside D. Beyond stevia, the company has also submitted a GRAS application for luo han guo extracts of various purities, currently pending FDA review. These many submissions and certifications demonstrate GLG's commitment to ensuring that its full complement of naturally sourced sweetener products is compliant with the FDA GRAS program. GLG's stevia and luo han guo sweetener products will always be naturally sourced.

GLG Life Tech Corporation Announces Board Changes

GLG Life Tech Corporation at its AGM held on June 26, 2014, approved the appointment of Madame Liu Yingchun and Madame Sophia Leung as directors of the company.


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