GLG Life Tech Corporation Announces Resignation Of President
VANCOUVER, British Columbia, Oct. 1, 2010 (GLOBE NEWSWIRE) -- GLG Life Tech Corporation (Nasdaq:GLGL) (TSX:GLG) ("GLG" or the "Company"), a vertically-integrated leader in the agricultural and commercial development of high quality stevia, announces the resignation by Brian Palmieri of his position as President of GLG Life Tech Corporation effective October 1 st, 2010. Brian retains his seat and position as Vice Chairman of the Board of Directors. Brian plans to pursue other business opportunities with his existing private companies and several new ventures aimed at developing consumer stevia products. CEO Dr. Luke Zhang will assume the responsibilities of the position effective immediately and all sales related activities will be taken over by the GLG North American sales organization.
Dr. Luke Zhang, Chairman and CEO of GLG, stated, "I wish to thank Brian for his many years of dedication to the development of GLG Life Tech Corporation and I look forward to his continued positive contribution as a member of the GLG Board. I also wish him success as he pursues his new business development ventures."
About GLG Life Tech CorporationGLG Life Tech Corporation 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: T his 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: GLG Life Tech Corporation Brian Meadows, Chief Financial Officer +1 (604) 844-2840 firstname.lastname@example.org
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