VANCOUVER, British Columbia, Oct. 26, 2010 (GLOBE NEWSWIRE) -- 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, announces that they have partnered with ChemPoint.com Inc. ("ChemPoint"), a prominent e-distributor of specialty and fine ingredients, for the marketing, sale and distribution of GLG's portfolio of high quality stevia extracts within the United States and Europe. ChemPoint will provide marketing, sales and order fulfillment, as well as technical support and expertise. The companies will jointly launch focused campaigns targeting key segments of the food and beverage industry immediately. Key highlights under the terms of this agreement include:
- Three-year initial term with an automatic renewal provision for additional years subject to certain conditions.
- GLG to establish ChemPoint as the exclusive supplier of stevia extract products for the high value tier three and tier four customers in the US and European food and beverage industry.