GLG Life Tech Corporation Confirms TSX Delisting Review and Discussion With TSX Venture Exchange for Listing Continuity

VANCOUVER, BC / ACCESSWIRE / April 3, 2024 / GLG Life Tech Corporation (TSX:GLG) ("GLG" or the "Company"), a global and agricultural leader in the natural zero-calorie sweetener industry, committed to the sustainable development of high-quality zero-calorie natural sweeteners, announces that the Toronto Stock Exchange has commenced a delisting review, effective April 2, 2024. The TSX is providing the Company a 120-day window in which to remedy several long-standing deficiencies, including the Company's financial condition and/or operating results and the Company's share price and market capitalization.

At this time, the Company cannot provide any assurance that it will be able to remedy the deficiencies identified by the TSX within the 120-day window or thereafter. Even if the Company is successful in its debt restructuring plans, there is no guarantee that this will be sufficient to address the TSX's financial concerns. Further, even if those concerns were adequately addressed, there is no guarantee that the Company's share price, trading activity, or market capitalization would improve sufficiently to avoid continued TSX concern in those areas.

The Company confirms that it has been in contact with the TSX Venture Exchange ("TSX-V") regarding an application for a listing on the TSX-V to maintain trading continuity in the event that the Company is delisted from the TSX. While the Company is applying for a listing on the TSX-V, there is no guarantee that such a listing application will be successful, or that another market for the Company's securities will be available if the Company is delisted from the TSX.

Additionally, the Company's Board of Directors is exploring other potential options that ultimately could prove to be in the best interests of the Company's shareholders and stakeholders. These include possible paths to taking the company private, including, but not limited to, consideration of the possible benefits of a Reverse Takeover ("RTO") transaction with a private company seeking to go public. The Company clarifies that, to date, there have been no discussions with any specific companies in this regard and that an RTO transaction or other go-private event is, at this stage, only a hypothetical consideration.