Vancouver, B.C. January 2, 2019 – 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, announces that the Company has accepted the resignation of Brian Meadows as President, effective as of January 1, 2019. The Company also announces the appointments, effective as of January 1, 2019, of Paul Block as President and Simon Springett as Chief Operating Officer.
Mr. Meadows will continue to serve as Chief Financial Officer through April 2019, while the Company conducts its search for a new CFO. Dr. Luke Zhang, the Company’s Chairman and CEO, commenting on Mr. Meadows resignation: “On behalf of the Board of Directors, I want to thank Brian for his many years of service to the Company, and I appreciate his willingness to continue as CFO for the next few months. I greatly value his dedication and many contributions to GLG and wish him all the best in his future plans.”
Mr. Block, a Director of the Company for five years, has been appointed as President of GLG Life Tech Corporation, effective January 1, 2019. Mr. Block brings a wealth of transformational executive leadership experience in the global food and beverage industry, particularly in the areas of strategic planning, business development, sales/marketing, product innovation and finance/operational planning. Mr. Block has been a CEO for over fifteen years; he was most recently Chief Executive Officer of SVP Worldwide (makers of Singer Brand). Prior to SVP, Mr. Block served as Chairman and Chief Executive Officer of Merisant Company (makers of Equal Sweetener). Under Mr. Block’s leadership, Merisant completed the first GRAS dossier for Stevia Reb A and was the first to gain a “no objection” from the FDA for sales of Stevia Reb A in the United States. In addition, Mr. Block and his team created the Pure Via Brand (Reb A) with PepsiCo, Inc., which climbed to $40 million in USD revenue in single serve packets and remains the #1 stevia packet brand in France today.
Dr. Zhang commented that “Paul’s appointment as the Company’s new President reflects a new evolution for the Company, as we position ourselves for accelerated growth in our stevia business segment and the development and growth of our anticipated Hemp Cannabidiol (CBD) business segment. We are excited to leverage Paul’s talents and proven track record towards our goal of rapidly gaining significant market share and becoming a dominant player in each of these segments.”
Mr. Block stated “I have had the privilege to work with Dr. Zhang over the years as a Board Director and the idea of partnering with him as President is very exciting. The Corporation is now positioned to scale and grow by leveraging the vertical model of stevia with the explosive growth category of Hemp CBD. I appreciate the sustainable orientation of the company and the “goodfor-you” position of our products. I share Dr. Zhang’s objective to accelerate the growth of our high-quality stevia and develop a successful global Hemp CBD business.
Also as of January 1, 2019, the Company has promoted Simon Springett to the position of Chief Operating Officer. Mr. Springett has served as Vice President of Operations since joining the company in May 2014. “Simon has been a critical member of our executive team over the years and an extraordinary high-performance team player,” said Dr. Zhang. “His professionalism, demonstrated capability, and commitment to the Company’s vision will serve us well as we enter a new evolution of growth. With our new Executive Team now in place, we are poised to achieve great things in the months and years to come.”
For further information, please contact:
Simon Springett, Chief Operating Officer
Phone: +1 (604) 285-2602 ext. 101
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, beverages, and dietary supplements. 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 and supplement industries, GLG’s Naturals+ product line enables it to supply a host of complementary ingredients reliably sourced through its supplier network in China. For further information, please visit www.glglifetech.com.
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. 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 published March 31, 2018. 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.