Vancouver, B.C. February 7, 2019 – GLG Life Tech Corporation (TSX: GLG) (“GLG” or the “Company”), a global leader in the agricultural and commercial development of high-quality zero-calorie natural sweeteners, announces that effective February 5, 2019, Brian Meadows has resigned from his position as CFO. As previously announced, Mr. Meadows had resigned from his position as President as of January 1, 2019, and planned to continue as CFO on a temporary basis as the Company conducted its search for a new CFO.
“In light of Brian’s decision to pursue other opportunities and his departure from the Company, I want to thank Brian for his ten years of service with GLG and we wish him the greatest success in his new ventures. Brian was a valuable partner to me over those ten years and I wish him the best as he continues his career,” said Dr. Luke Zhang, Chairman and CEO.
Under the leadership of the newly appointed GLG executive management team of Paul Block – President, and Simon Springett – Chief Operating Officer, the company has begun its search for a new Chief Financial Officer to replace Mr. Meadows. “This is a very exciting time for GLG as we expand our stream of business and look to accelerate growth,” said Paul Block, GLG’s new President. “We look forward to finalizing all year-end financials and completing our financial audit as we plan for the scale-up of our business,” said Simon Springett, GLG’s new Chief Operating Officer.
In the near term, GLG is fortunate to have a strong finance team and experienced leadership to maintain day-to-day operations and to begin executing the GLG growth vision. “I have never been more excited about the opportunities for GLG going forward and the executive leadership in place to achieve our goals,” said Dr. Zhang.
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.
Forward-looking statements: 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.
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