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GLG Life Tech to distribute high-quality CBD products across Canada and Europe

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The company’s decision to enter the CBD space by partnering with East West Pharma Group aligns well with the company's historical business focus and core competencies, as both stevia and CBD are, at root, agricultural products.

Additional Information:

Company: GLG Life Tech Corporation
Website: http://www.GLGlifetech.com
Stock Symbol: TSX: GLG
Date Published: Dec 4, 2019
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

GLG Life Tech Corporation, a global leader in the agricultural and commercial development of high-quality zero-calorie natural sweeteners, will begin the distribution of high-quality CBD products.

The company’s decision to enter the CBD space by partnering with East West Pharma Group
(www.eastwestpharmagroup.com) aligns well with the company's historical business focus and core competencies, as both stevia and CBD are, at root, agricultural products.

GLG Life Tech currently manufactures, markets, sells and distributes a portfolio of low-calorie stevia and monk fruit sweeteners to customers around the globe.

Under the terms of a five-year agreement with East West Pharma Group, the company will have exclusive distribution rights for East West Pharma Group’s CBD products, including extracts, distillates, and isolates, across Canada and Europe.

East West Pharma has the capacity to produce 350 metric tonnes of CBD products annually, with GLG expecting to sell a significant percentage of that volume.

East West Pharma has access to plant strains with especially high levels of CBD, which enables it to achieve optimal processing efficiency for its CBD products.

With this efficiency and high-quality industry standards applied throughout the production chain, GLG will in turn be positioned to offer the highest quality and highest purity CBD extracts, distillates, and isolates on the market today.

Dr. Luke Zhang, CEO and Board Chairman, stated: "We could not be more excited to be entering the rapidly growing CBD space on the strengths of our partnership with East West Pharma and our many years of experience selling high-quality cost-competitive extract products around the world. Knowing that we have joined forces with the best manufacturer for the production of high-quality CBD products gives me great optimism for our future successes in selling major quantities of these CBD products at attractive price points in Canada, Europe, and beyond. We look forward to a long and successful partnership with EWPG."

John Vu, CEO of East West Pharma, added: “Partnering with GLG - with their long-standing reputation for consistently delivering high-quality products globally - can only make the future of EWPG that much brighter. We thank the GLG team for this wonderful opportunity to showcase our skills and especially our CBD products to the world.”

The shares are trading at $0.145.

For more information please visit the company’s website at www.GLGlifetech.com, contact Simon Springett, COO, at 604-285-2602 ext 101, or by email at ir@GLGlifetech.com

I’m Cassandra Bolinski for Investmentpitch Media