GLG Life Tech Corporation Announces AN0C Distribution in China Triples to Over 65,000 Stores in the Past Month
10 June 2011 - 8:30PM
GLG Life Tech Corporation (Nasdaq:GLGL) (TSX:GLG) ("GLG" or the
"Company"), the vertically-integrated leader in the agricultural
and commercial development of high quality stevia and all natural
and zero calorie food and beverage products, updates the
distribution growth and planned product introductions of its AN0C
joint venture.
AN0C continues to sign-up more large regional 'tier one'
distributors to further enhance the growth of retail distribution
and sales in time to target the July to September peak season for
beverage sales within China. AN0C has increased the number of its
distributors from 300 in mid-May to over 400 partners. This growth
over the past month has resulted in a three-fold expansion in the
distribution reach of AN0C's products to over 65,000 stores,
consisting of approximately 6,000 National grocery stores and
59,000 retail outlets.
GLG Chairman and CEO Dr. Luke Zhang stated, "Broadening the
distribution reach and new product launches are key milestones in
the development of the AN0C business and brand. The
progressive expansion of AN0C's distributor network not only
benefits the sales of the current line of products, but also the
launch of upcoming new products." Over the next few months,
AN0C will be bringing to market six new flavours of vitamin
enhanced waters and five fruit flavoured dairy beverages. AN0C
is developing a wide array of zero or low calorie food and beverage
products sweetened with stevia.
About GLG Life Tech Corporation
GLG Life Tech Corporation (Nasdaq:GLGL) (TSX:GLG) 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. GLG's
advanced technology, extraction technique and premier, high quality
product offerings make it a leading producer of high purity, great
tasting stevia extracts. For further information, please visit
www.glglifetech.com.
The GLG Life Tech Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7994
Forward-looking statements:This press release
contains certain information that may constitute "forward-looking
information" and "forward-looking statements" within the meaning of
applicable Canadian and United States securities laws. All
statements relating to plans, strategies, projections of results of
specific activities or investments, and other statements that are
not descriptions of historical facts may be forward-looking
statements. Forward-looking statements and information are
inherently subject to risks and uncertainties, and actual results
could differ materially from those currently anticipated due to a
number of factors, which include, but are not limited to,
operational risks, the effects of general economic conditions,
changing foreign exchange rates and actions by government
authorities, uncertainties associated with legal proceedings and
negotiations, industry supply levels, competitive pricing pressures
and other risks and uncertainties disclosed in the public documents
filed by the Company with Canadian and United States securities
regulatory authorities. Forward-looking statements and information
may be identified by terms such as "may", "will", "should",
"continue", "expect", "anticipate", "estimate", "believe",
"intend", "plan" or "project", or similar terms or the negatives of
these terms. Although we believe that the expectations reflected in
the forward-looking statements and information are reasonable, we
cannot guarantee future results, levels of activity, performance,
or achievements. The Company's forward-looking statements and
information reflect the beliefs, opinions and projections on the
date the statements are made. The Company assumes no obligation to
update forward-looking information should circumstances or
management's estimates or opinions change, except as required by
law.
CONTACT: Brian Meadows
Chief Financial Officer
GLG Life Tech Corporation
+1 (604) 669-2602
info@glglifetech.com
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