GLG Life Tech Corporation Announces Exercise of Warrants
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GLG Life Tech Corporation ("GLG") (TSX:GLG) announced today that two funds managed by Black River Asset Management, a subsidiary of Cargill, have exercised a total of 3,591,410 warrants for proceeds to GLG of approximately $12.5 million. The exercise of these warrants resulted in the issuance of 3,591,410 common shares of GLG.
GLG also announced today that the exercise price and the number of shares that may be purchased under the second warrant issued to Cargill in July 2007 have been set. Under this warrant, 5,223,943 common shares of GLG may be purchased at an exercise price of $4.44 per share on or before March 31, 2009.
About GLG Life Tech Corporation
GLG Life Tech Corporation specializes in growing, refining, and producing high grade stevia extract. With fully integrated stevia operations, GLG now controls the majority of high quality stevia production in China. The corporation is also engaged in the distribution of nutritional products in China and holds exclusive agreements with Weider Global Nutrition and Shandong Yong He Tang Health Products Chain Stores Ltd., whose franchise network includes over 1,200 locations. Please visit www.glglifetech.com
About Black River Asset Management
Black River Asset Management, an independently managed subsidiary of Cargill, is a global asset management company with 12 offices in 10 countries and more than 20 years of experience. Black River's experienced investment professionals implement alternative investment strategies across a wide range of developed and emerging markets.
About Cargill
Cargill is an international provider of food, agricultural and risk management products and services. With 158,000 employees in 66 countries, the company is committed to using its knowledge and experience to collaborate with customers to help them succeed. For more information, visit http://www.cargill.com
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