GLG Life Tech signs strategic alliance and multi-decade supply agreement for natural zero-calorie sweetener

On May 1, 2008, GLG Life Tech Corporation (TSX: GLG) announced the signing of a strategic alliance and long-term renewable supply agreement with a leading multi-national agribusiness corporation for the supply of Rebaudioside A ("RA") stevia extract, a natural, zero-calorie sweetener. The initial term of this agreement is for ten years and is automatically renewable through at least 2030. GLG is currently a supplier to the agribusiness corporation for high quality stevia extract for its rebiana product. The companies have worked in close partnership to develop a world-class supply chain for the ingredient, including leaf supply and extract manufacturing. GLG will provide a minimum of 80% of the agribusiness corporation's RA stevia extract global requirements for the first five years of the agreement. The agribusiness corporation will have a rolling three year minimum commitment in terms of annual minimum purchase quantities, the value of which is may approach US$200 million in the first three years. GLG specializes in growing, refining, and producing high grade stevia extract, a natural sweetener with all the benefits but none of the health drawbacks of sugar. GLG was advised in the negotiation of this agreement by Don Dalik, Lata Casciano, Edmond Luke and Georald Ingborg of Fasken Martineau.