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, announces its report
on the AN0C™ business progress after approximately three months of
its first launch of products in Chinese market. This business
update will review all aspects of AN0C's development and progress.
Dr. Luke Zhang, Chairman and CEO of both GLG Life Tech
Corporation and AN0C, comments on the progress to date of AN0C,
"AN0C's business development has taken an extraordinary effort by
the Management Team. Over the past few months they have set-up the
Company in all critical areas including sales, marketing, product
development and formulation, production management, procurement,
logistics, government relations, human resources and all other
critical support functions. To falter on any of these areas would
have jeopardized AN0C's rapid business development. With the
initial three months of sales for its RTD Tea products reaching
approximately 27 million bottles sold, we feel confident that the
all-natural sweetened zero calorie products have been well received
in the marketplace and we are ready to launch the next series of
all naturally sweetened zero calorie products. The June sales
figures alone, equate to an annual business of approximately USD 40
million in sales. This early result confirms the extensive
market research that we conducted prior to launching AN0C
products.
We have built a sustainable infrastructure with which we will
launch a series of new, naturally sweetened zero calorie products
to the Chinese market in 2011 and beyond. We are the only
nationally distributed brand in China with all naturally sweetened
zero calorie products and with the upcoming product launches over
the following weeks and months we expect to retain and expand this
position. Our success has attracted a lot of attention from
both Chinese consumers and multinational beverage and food industry
players who now see the potential for all naturally sweetened zero
calorie products. We have a number of competitive advantages
that include the high quality of our stevia extracts, proprietary
formulations, an expanding product portfolio, ongoing government
support within China, and an experienced team of senior management
committed to AN0C's continued success.
I am truly excited about the upcoming product launches we have
planned that will take our original business plan from 12 SKU's in
two beverage categories to 32 SKU's in six major beverage
categories. This alone will expand our addressable markets
from USD 6 Billion to approximately USD 21 Billion. I would
like to express my gratitude for the support we have received from
the Chinese government in helping us with the rapid development of
our AN0C business venture. We are true partners in the
development of this business, which is not only good for GLG
shareholders but also brings prosperity to local farmers in China
and provides healthy alternatives that will help combat obesity and
diabetes for consumers in China."
Management's key objective for AN0C has been to develop the
number one brand in China for naturally sweetened zero calorie
beverages and foods. Management expects this objective to fuel
sustained revenue growth in 2011 and into the future. We have
identified critical success factors that we needed to implement
over the past several months in order to rapidly develop the AN0C
business with a solid foundation for a sustainable market success
in China.
- Formulation and taste – AN0C's product must be
as good if not better than leading sugar or artificial sweetened
products to attract and retain consumers.
- Significant National distribution including
national (KA) accounts and retail stores from an excellent
penetration we built through our first product launch.
- 12 Regional sales offices and a large
group of experienced sales
professionals
- Strong marketing team – This team offers
highly professional advertising and promotion support of AN0C
products.
- High quality control – We cannot afford to
have any issues with our products.
- OEM partnerships – For production
of our quality products we ensured that we had the right partners
in place with the highest manufacturing and quality standards.
- Strong support teams – We have put in place
the right Human Resources, Legal, Finance, Internal Audit and
Control teams.
- Strong logistics and procurement teams.
- Strong government relations – These have been
established to manage the approximately 10 key government
departments in each city and permitting across 300 cities in China
to ensure AN0C is operating in full nationwide compliance.
- Health experts committee – We have enlisted
support consisting of leading authorities in their health field to
provide us with key advisory roles for AN0C, its products and
business development.
- Develop the right corporate culture –
Build one that is both action oriented for rapid business
development but that understands the social responsibility aspects
of our AN0C business around helping local farmers and by providing
Chinese consumers healthier beverages and foods to help combat
obesity and diabetes.
Progress Date on Critical Success Factors
Overall, the AN0C business has performed very well in a little
over 6 months since we announced the JV and launched our first
products at the end of March. This update will review all main
aspects of our venture's progress to date. Management's view
is that AN0C has achieved a number of firsts in China including the
set-up of its national distribution within 6 months, its rollout of
all naturally sweetened zero calorie products and the achievement
of sales of approximately 27 million bottles within a short period
of time (3 months).
Great tasting products – AN0C is the only
company in China with a national zero calorie naturally sweetened
product. Our JV Partner, CAHFC, spent over two years
developing the beverage and food formulations which we are working
with today. Our AN0C Vice President of Formulation has been
working with these baseline formulations, refining them to deliver
the great tasting zero calorie ready-to-drink (RTD) teas that AN0C
has already launched. It should be noted that for one of our
RTD teas, over 500 formulations were tested before the final recipe
was signed off. Working with stevia as a sweetener has
proven to be a challenge to many companies globally. We are pleased
to report that our formulations have addressed many of the common
issues around aftertaste that has hampered others in the
development of stevia sweetened products.
Consumer reaction to AN0C products – AN0C has
received very positive feedback to its RTD teas in the market
research conducted prior to launch and post launch of its six
original products. During the pre-launch, the market research
showed a 70% interest in a zero calorie naturally sweetened product
and a 50% intention to purchase. We have seen strong
indications of our first products success. It has shown that
approximately 90% of the purchases are for our three zero calorie
SKU's. As a result, the AN0C team decided to capitalize on the
consumers' interest and demand for the naturally sweetened zero
calorie RTD teas and will discontinue the low calorie
version. Consumers clearly indicated that they
preferred the zero calorie products above the low-calorie
option. Consequently, the product-line expansion strategy will
change and we will only be pursuing our consumer beverage products
that are naturally sweetened with zero calories.
Sales and re-ordering by our customers to date
– A review of our sales orders to date, after
approximately three months of sales from our 400 Tier I
distributors, indicates that 75% of our distributors have initiated
repeat orders (second or more) and 25% of our distributors are
still on their first order. Of the 75% of distributors who are
repeat ordering, 60% have placed their second order, 20% are on
their third order, 13% are on their fourth order and 7% are on
their fifth order. AN0C Management sees this as clear support of
the success of the AN0C ready-to-drink (RTD) Tea within China and
that the zero calorie naturally sweetened product concept is one
that we plan to capitalize on over the next few months across a
number of major beverage categories.
Product category expansion in 2011 – Previous
formulation development by our partner CAHFC has allowed AN0C to
accelerate into a number of product categories that we are planning
to launch in 2011. Originally, we had planned 12 SKU's for two
beverage categories, but today we are announcing a total of 32
SKU's that will be launched in 2011, across six traditional
beverage categories and in two in the functional beverage
category (anti-aging, detoxification). The following table
provides a summary of the key beverage categories that AN0C plans
to launch in 2011, along with the planned SKU's and the approximate
market size of each:
|
|
|
|
|
|
|
|
|
|
RTD Teas |
Vitamin Enriched
Waters |
Carbonated Soft
Drinks |
Juice Milk |
Herbal Drink |
Children's
Drinks |
Functional (Health) Beverage
& Foods |
Total |
Market Size (USD) |
$5.3 Billion |
$0.6 Billion |
$6.5 Billion |
$3.1 Billion |
$2.8 Billion |
$2.9 Billion |
N/A |
>$21 Billion |
Original Planned SKU's |
6 |
6 |
|
|
|
|
|
12 |
Revised Planned SKU's |
3 |
6 |
6 |
3 |
1 |
9 |
4 |
32 |
AN0C has increased the market potential for its products in 2011
and in the future by planning to roll out naturally sweetened zero
calorie products across six major categories in the mainstream and
functional health beverage markets. The size of these combined
markets is estimated to be in excess of $21 billion compared to
approximately $6 billion with AN0C's original product rollout
strategy. AN0C announced on July 20th that it had finalized
the formulation of its vitamin enriched waters and production of
the products had commenced. We expect sales to begin in the
second week of August. We are expecting to launch all of the
other mainstream categories before September 30th, 2011. We
also expect our functional beverage line of products to reach the
marketplace on or before October 31st, 2011. The
Chinese government is introducing new regulations for public
schools that are expected to encourage lower calorie/reduced sugar
products to be sold into schools in order to deal with the growing
problem of childhood obesity the country is experiencing. The
timing of this regulation and the launch of our fruit milk drinks
for children is expected to result in a win-win opportunity for the
company. These new products will further establish the Dr.
Zhang AN0C brand as the market leader giving us a clear first mover
advantage in China for our high quality, great tasting naturally
sweetened zero calorie products.
National Distribution Including KA Channel and Retail
Stores Progress
Distributor's progress – Early on, the AN0C
management decided to secure the leading brand in China for all
naturally sweetened zero calorie products. National distribution
for these products was a fundamental requirement that needed to be
achieved as quickly as possible. We are pleased to report
today that Phase One of AN0C's national distribution strategy has
been achieved. The key elements of this strategy are to focus
on our Tier I distributors who service both the National (KA)
Channel and other stores (regional or local stores), and growing
our own regional sales and marketing office support structure.
The points-of-sale for consumer products in China can be
categorized into two main types: modern and
traditional. Modern outlets represent the nation-wide
hypermarkets, supermarkets and chain convenience stores, while
traditional outlets capture everything else from roadside iceboxes
and kiosks to independent "mom and pop" corner
stores. Overall, approximately 80% of beverage purchases are
made in the traditional outlets. In the more modernized
urban centers, like Shanghai, there is a growing trend (40%)
towards buying beverages from the modern outlets.
Beverage purchases in China tend to be spontaneous. Many
beverage purchase decisions are made as consumers walk by a kiosk
or store and see the drink, or feel thirsty and are looking for
whatever is closest to hand. This behavior leads to the
plethora of portable iceboxes and drink stands that pop up along
sidewalks and at popular gathering places or tourist spots. It
is also common to see storefronts which are unrelated to food
sales, such as clothing or shoe stores, have a standalone drinks
refrigerator placed strategically where they can be easily seen by
passing foot traffic.
Business can also be brisk for kiosks that are set up outside
hypermarkets and supermarkets. Although the price may be a
little cheaper inside the hypermarkets, many consumers will still
choose to pay the higher price at the kiosk for the sake of
convenience (due to the crowds in the hypermarkets, it takes some
time to walk in, find the drinks section, pay for the drink, and
walk out) . In general, consumers in China are not in the
habit of stocking up on RTD beverages by the case.
On May 16th, we announced that AN0C had 300 Tier I distributors
servicing 20,000 store locations (including KA Channel and retail
stores).
On June 10th, we announced that AN0C had 400 Tier I distributors
servicing 65,000 store locations.
The AN0C management, as of July 20th, announced it had increased
the total number of store locations serviced by its distributors by
15% to approximately 75,000 locations, in just one month since the
previous June announcement.
AN0C Management has reviewed and replaced lower performing Tier
I distributors with higher performing distributors so the total
Tier I distributors remained stable at 400. Our network of
distributors will be fully leveraged to sell our new products as
well as RTD Teas and Vitamin enriched waters. The response by
our distributors to our zero calorie naturally sweetened RTD
products and future product launches has been very positive and
they have expressed a strong interest in carrying all future AN0C
products.
Regional sales and marketing offices – Another
key success factor for AN0C has been the sales and marketing
support provides our distributors and retailers. On March 24,
2011 we announced that twelve regional AN0C offices responsible for
marketing, National (KA) Channel sales and distribution would be
established. This is our Tier I sales and marketing
support. During the next three months, we established an
additional 51 Tier II sales and marketing offices within those same
thirteen sales regions and at the same time created 125 Tier III
sales and marketing offices (major urban areas). To date we
have hired 1,250 full time sales and marketing staff to work with
our distributors and retailers to promote AN0C's products and
service for our distributors. This was a key infrastructure
development to help promote sales of AN0C products. It will
also be leveraged for all the additional AN0C additional products
that are planned to be launched in 2011 and beyond.
Advertising and Promotion Progress
On March 17th, we announced that AN0C launched the first
national advertising campaign in China in support of the AN0C brand
introduction and the premiere of six new products. AN0C's
first advertising campaign was on CCTV, China's national TV
station. The time slots for the AN0C commercials were
aired during prime-time, immediately after the national news from
7:00 to 7:30 pm. This national coverage proved to be the best
advertising opportunity available to promote both the new AN0C
company brand as well as its new line of branded
products. There are only fourteen slots available during this
peak viewing time and it is very difficult to secure an ad spot,
given the high viewership, but GLG was successful in securing the
time slot. The average rating of the national news is
estimated at 22%, which is the highest rating among all of the
daily programs on CCTV. The opportunity to advertise on CCTV
was determined by AN0C marketing executives to be the best choice
to build both the company and product brand and to stimulate the
initial consumer demand for the AN0C products. We have
continued to use television advertising as a successful tactic to
increase our sales, with June being the most successful
demonstration of the power of TV advertising and the positive
impact it had on our sales. The focus on the AN0C brand from
an overall brand concept perspective, rather than on a product
basis, means that we are able to leverage brand recognition across
all our new products that we plan to launch in 2011. Consumers are
becoming aware that AN0C stands for a line of "naturally sweetened,
zero calorie" beverage products that are better for you. Moving
forward, we will leverage the current AN0C marketing investments
for the new products to be introduced under the same AN0C umbrella,
and continue to build equity for the brand.
AN0C recently announced that it will be the exclusive sponsor to
the China National Olympic swimming team with its RTD Tea
products. We see this as an excellent opportunity to promote
the AN0C brand as a healthy alternative for the Chinese
consumer.
AN0C promotional activities have also commenced with
universities and higher learning schools to help educate young
people in healthier alternatives to control
calories. Marketing messages include taglines like "want sweet
not fat". Marketing and promotional messages also highlight AN0C's
stevia based sweetener as being "all-natural" and not artificial, a
preference that many Chinese consumers would prefer if given the
healthier choice.
Government Support
As previously disclosed, the AN0C business has been developed
with the full support of the local Xiaogang government, the Anhui
Provincial government and the Central government. This in part
is because Xiaogang's rural development is a key agricultural
development project supported at all levels of Government in
China. Stevia is the crop around which value-added has been
developed. This agricultural project creates value for local
farmers, creates higher paying regional factory jobs by and other
work opportunities especially with the AN0C products having a
national market in China. We have worked closely with the
Chuzhou City Government and the Fengyang County Government to
develop the AN0C business, which has become a role model for how a
rural agriculturally based economy can build a value added industry
around an agriculture crop like stevia. The recognition we
receive comes from the government's acknowledgement of our creation
of jobs in the Xiaogang region and from the health benefit of
helping bring healthier food and beverages to the Chinese
consumer. Not only does AN0C's business meet the government's
objective of improving the living standards of local farmers who
grow stevia but it also addresses the important health issues
facing the Nation – obesity and diabetes. Given the strategic
importance of AN0C's business to the Government's Xiaogang project,
our business has received and continues to receive support
throughout our development over the past 6 months.
AN0C has received assistance in the recruitment of national
distributors such as Walmart, Carrefour, Metro and Tesco as well as
assistance is securing the number one OEM bottler in China – The
Hon Chuan Group. AN0C has also received assistance in securing
the best national advertising slots, assistance for the approval of
its products and through media coverage. GLG was profiled in a
nationally televised CCTV documentary series about the Xiaogang
story in the past few months. This media coverage has been
invaluable in helping broadcast the GLG name across China and
positioned the company as a leading international business that has
come to the aid of Xiaogang and played a valuable role in helping
develop their rural economy and taking it to the next level in
wealth and job creation.
On June 28th we announced a key agreement had been signed
between GLG and its AN0C joint venture with the Fengyang County
Government and the Chuzhou City Government of Anhui province that
will help strengthen its consumer products business in
China. Under this agreement, GLG and its AN0C subsidiary
agreed to register its headquarters in the Xiaogang Village in
Fengyang County, the birthplace of the China agriculture reform,
and to set up its marketing and sales operation center in
Shanghai. In return, the Fengyang government agreed to give
the AN0C business nationwide preferred tax treatment through its
headquarters and the Fengyang government and the Chuzhou City
Government also agreed to proactively assist GLG's AN0C joint
venture to obtain an RMB one billion credit line with interest
rates discounted against market rates from China financial
institutions.
The combination of the tax incentives and line of credit support
from the governments of Chuzhou and Fengyang are clear indicators
that AN0C is a preferred supporter of important policies in
China. The line of credit is expected to provide all foreseen
financing requirements for the AN0C planned expansion in China
within the next two years of our operation.
Media Support
The Government's concern over the growing problems of obesity
and diabetes in China has resulted in media coverage over the past
several months regarding the dangers of consuming too much
sugar. These articles are all supporting the government's
consumer education to help its citizens realize the importance of
controlling their sugar intake. We have also received
additional major media coverage regarding our corporate social
responsibility (CSR) and the development of our local agriculture
and training programs for young local farmers to our AN0C workforce
that helps prevent them from leaving their families to locate work
in distant major cities.
Government Focus on Childhood Obesity
During the 2009-2010 academic year in Beijing, 20.3% of all
primary and secondary school students were diagnosed to be obese.
Within their respective groupings, 24.4% of all boy students were
obese where as 15.8% of all girl students were considered
obese. Separating out the primary and secondary students,
20.7% of primary students were considered obese, whereas 19.8% of
secondary school students were deemed to be obese. The overall
trend of childhood obesity has increased significantly in the past
few years.
On July 20th, 2011, the Beijing News reported that the Beijing
Municipal Health Bureau announced a five-year primary and secondary
school prevention plan targeting childhood obesity. Under the
plan, it is expected that within 5 years, 80% of primary and
secondary schools will have established an intervention system that
targets obese children and initiate an early prevention program of
"adult" obesity diseases. Both school food and beverages will
be monitored at least twice a year. The plan will begin
with primary and secondary schools in Beijing with the goal to
establish "student obesity intervention tactics". Government
statistics show that currently there is on average one in five
students of Beijing primary and secondary school that is
over-weight. At the same time, Beijing proposed that
primary and secondary schools should start the early prevention to
avoid "adult diseases". An official said, all students who face
"high risk" of adult diseases, such as hypertension, high blood
sugar, etc., will be created a health record in five-year. School
doctors or health teachers will be responsible for monthly blood
pressure readings for overweight students with high blood pressure
and obesity issues. The Capital Municipal Health Bureau said
that in five years more than 90% of primary and secondary schools
students will meet the "National Students Health
Standard".
The government's focus on childhood obesity and the monitoring
of school food and beverages makes AN0C's planned launch of its
naturally sweetened zero calorie drinks for children an excellent
solution for these school food programs and can help to ensure that
the primary and secondary school system is compliant with the
planned regulations.
Product volume sales to June 30th – In the
approximately three months of sales activity (end of March through
June 30th) AN0C has sold approximately 27 million bottles of its
(RTD) Teas. Our largest volume sold was in the month of
June with 12.6 million bottles of RTD Tea. June proved
to be landmark month demonstrating AN0C's growing success being the
first month since our March launch with all of the following sales
enablers in place:
a) OEM manufacture capacity in place to handle volume
b) Distribution outlets increased from 20,000 to 65,000 by this
time.
c) Sales support was in place (51 Branch Sales Offices &
over 1,250 sales and marketing professional in
place supporting sales with our Distributors)
d) Increased Advertising levels
With all the necessary components in place, AN0C sold 12.6
million bottles of its RTD teas. This is worth approximately
$40 million in product sales on an annualized basis. This
sales milestone has given AN0C management the data and confidence
that their all natural sweetened zero calorie products are being
well received in the Chinese marketplace. Based on 2010 average
monthly sales data (Euromonitor, 2010) for China's top competitors
within in the RTD tea category, AN0C's June sales would place it
within the top 12 national competitors in this category. This
is a significant achievement within a three month period of product
launch and demonstrates our confidence in rolling out additional
zero calorie products in the marketplace.
The introduction of additional products will now be launched to
capitalize on this opportunity and in so doing, put us in a
leadership position in the market for this category. AN0C's
President, Katzu Cheng who pioneered the sugar sweetened ready to
drink market 10 years ago in China, sees the naturally sweetened
zero calorie product opportunity as a similar stage growth
opportunity as the sugar sweetened RTD Tea market was in 2001 when
it first started to be sold in China. Today the RTD Tea market is
estimated at USD 5.3 Billion.
Although to Management's knowledge, AN0C's performance is the
fastest growth achieved by a new entrant in China's RTD beverage
market, we were unable to achieve our original expectation of
bottles sold by June 30th. A series of factors contributed to
a delay in the number bottles sold, none of which change
Management's expectations for the AN0C business for 2011 and
beyond. The three major factors that impacted our sales
through June 30th were as follows:
- Insufficient product supply from our OEM Bottler – This issue
was present earlier in the second quarter and has since been
resolved.
- Competition in RTD Tea marketplace – Competition did react to
the success of AN0C's products causing some issues with our
distributors as well as more aggressive advertising.
AN0C has a differentiated product and the consumers are buying it
so without a comparable offering the competition has yet to react
with a nationally available zero calorie sweetened
product.
- Weather – The summer has not been as hot in China as usual and
industry wide sales of RTD teas and other beverages that usually
sell well during the hot weather were also impacted.
New Bottle for AN0C RTD Tea
AN0C is in the process of re-introducing its RTD Teas in a new
custom branded bottle. This was a decision to better differentiate
AN0C's product from other competitors products and is expected to
lead to higher levels of sales than we have achieved to
date. At the same time, due to the overwhelming preference of
zero calorie RTD AN0C products over its low calorie products, AN0C
management has made the decision to keep only the zero calorie
SKU's. In the month of July, we will be reducing our sales
campaigns to our distributor channel in order to clear out any
remaining inventory of existing AN0C bottles. We expect to
return to increased sales levels in August when the transition of
the new bottle is complete.
Focus on Improving Product Margins
AN0C Management has a program of continuous improvement on its
product costs and has already acted on two of these:
i. Working with OEM manufacturers to focus on cost reduction on
bottling costs.
ii. Achieved a 5% cost reduction through formulation
refinements.
Outlook for AN0C Business
With the success of our RTD tea products following only three
months of sales, we will be rolling out 32 SKU's across six major
beverage categories plus functional (health) products. We will
be expanding the addressable markets that we originally planned to
enter with 12 SKU's with an estimated market value of $6 Billion to
32 SKU's with an estimated market value of over $21
Billion. Management expects to see increased sales of our RTD
products in the remaining two quarters of 2011 and expects our new
product launches will perform as well as our RTD teas have, to
date. Management also expects that the revenue opportunity to
still be in the original range that we communicated in January of
2011 ($70 to $100 million). We will provide further
information on the AN0C business outlook when we publish our second
quarter financials on August 15th.
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
About AN0C
AN0C focuses on the sale and distribution of all natural zero
calorie food and beverage products in China that are sweetened with
stevia provided by GLG Life Tech Corporation. GLG is a global
leader in the supply of high quality stevia extracts and holds an
80% controlling stake in AN0C with China and Healthy Foods Company
Limited (CAHFC) holding 20%. Dr. Luke Zhang, Chairman and CEO of
AN0C, is supported by an experienced team of senior executives
recruited from the beverage industry in China. For further
information, please visit www.an0c.com.
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: Sophia Luke
Vice President of Investor Relations
GLG Life Tech Corporation
+1 (604) 669-2602 Ext 104
ir@glglifetech.com
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