Vancouver, B.C. February 27, 2018 – GLG Life Tech Corporation (TSX: GLG) (“GLG” or the “Company”), a global leader in the agricultural and commercial development of high-quality zerocalorie natural sweeteners, is pleased to announce today a further update on the second phase of its debt restructure initiative. Recently, the Company received an official letter from China Cinda Assets Management Corporation Anhui Branch (“Cinda Anhui”) confirming their intention to move forward in 2018 as a new shareholder in GLG’s new joint stock company – Anhui Runhai Biotechnology Joint Stock Company, Ltd. (“Runhai”) and to resolve Runhai’s bank debt obligations. Cinda Anhui has taken the lead in consolidating GLG’s Chinese debt amongst the other Chinese banks and has been engaging in negotiations with the Company to convert all the outstanding bank debt into equity into Runhai. The letter highlights Cinda Anhui’s involvement in the debt restructuring process, including its work with the other Chinese banks that have held debt in Runhai. Significantly, this letter also formally communicates Cinda Anhui’s intent to move forward in 2018 to resolve the Company’s Chinese debt positions. This update follows up on the Company’s November 2017 update, in which the Company announced that the negotiations are proceeding well for a draft agreement with all lenders. These efforts remain on track. As previously noted, the Company plans to provide all necessary public disclosure once the final plan is agreed by all parties including GLG’s Board of Directors. Dr. Luke Zhang, CEO and Chairman of GLG, commented: “We continue to make significant progress on our Phase II Debt Restructuring. This letter from Cinda Anhui confirms that our bank debt restructuring plans remain on track for completion in 2018. We will continue to work hard on behalf of the GLG shareholders to finalize the restructuring plan with Cinda Anhui, and in doing so, bring a strong financial partner to Runhai that will further strengthen our position in the market and fundamentally restructure our balance sheet by converting our bank loans into equity in Runhai.”

For further information, please contact:
Brian Meadows, President
Phone: +1 (604) 285-2602 ext. 105
Fax: +1 (604) 285-2606
Email: [email protected]

About GLG

Life Tech Corporation GLG Life Tech Corporation is a global leader in the supply of high-purity zero calorie natural sweeteners including stevia and monk fruit extracts used in food and beverages. GLG’s vertically integrated operations, which incorporate our Fairness to Farmers program and emphasize sustainability throughout, cover each step in the stevia and monk fruit supply chains including non-GMO seed and seedling breeding, natural propagation, growth and harvest, proprietary extraction and refining, marketing and distribution of the finished products. 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 supplier network in China. For further information, please visit www.glglifetech.com