UPDATE 1-GLG Life signs distribution deal with Sugar Australia

* Agreement effective as of July 9

* Deal has automatic renewal provision for another 5 yrs

July 13 (BestGrowthStock) – Canadian life sciences company GLG Life
Tech (GLG.TO: ) said it signed a five-year agreement with Sugar
Australia for the distribution and marketing of its stevia line
of natural sweeteners. GLG said the agreement, effective July
9, has an automatic renewal provision for another five years.

The companies are working together to market stevia, a
calorie-free sugar substitute, and its use as an ingredient to
the food and beverage sector in Australia and New Zealand, GLG
said in a statement.

Sugar Australia, which markets the CSR Sugar brand, is a
sugar refiner which services the industrial and consumer sugar
market. Shares of Vancouver, British Columbia-based GLG were up
35 Canadian cents at C$8.30 Tuesday morning on the Toronto
Stock Exchange.
(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by
Anne Pallivathuckal)

UPDATE 1-GLG Life signs distribution deal with Sugar Australia