GLG Life Tech Corporation

GLG Life Tech Corporation

November 11, 2009 09:00 ET

GLG Life Tech Corporation Announces Filing of Statement of Defence and Counterclaim

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 11, 2009) - GLG Life Tech Corporation (TSX:GLG) ("GLG" or the "Company"), the vertically integrated leader in the agricultural and industrial development of stevia extracts, announces that it has filed a statement of defence and counterclaim in the previously announced claim against the Company by Weider Global Nutrition ("WGN") in the Supreme Court of British Columbia.

On November 4, 2009, WGN commenced legal proceedings against the Company alleging, among other things, that pursuant to the shareholder agreement between WGN and the Company, GLG Weider Sweet Naturals Corp. ("Sweet Naturals") became the exclusive marketing and sales arm of the Company, except for the strategic alliance and supply agreement with the Company's main customer. WGN also alleged certain misrepresentations and breach of fiduciary duty by the Company.

The Company's Statement of Defence states, and the Company continues to believe, that WGN's claim that Sweet Naturals is entitled to a larger share of the Company's stevia business is contrary to the express provisions of the Shareholder agreement. The Statement of Defence also states that other claims by WGN fall outside the terms of the Shareholders Agreement and are inconsistent with it. The Company remains of the view that the claims are wholly lacking in merit. The Company seeks to have the claims dismissed with costs. The Company has also instituted a counterclaim for damages against WGN as a result of the commencement of the action.

About GLG Life Tech Corporation

GLG Life Tech Corporation is a global leader in the supply of high purity stevia, an all natural, zero-calorie sweetener used in food and beverages. The Company's 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 and extraction technique make it a world leading producer of high purity rebaudioside A extracts. Please visit for further information.

Forward-looking statements: Certain statements in this press release constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements evaluating the market for stevia, the Company's production capacity, demand for stevia and the Company's stevia based products and general economic conditions. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include 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 under the heading "Risk Factors" in our Annual Information Form in respect of our year-ended December 31, 2008 and the risk factors in our Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2008 and for the interim period ending September 30, 2009, all of which are available on SEDAR at The Company's forward-looking statements 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.

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