Mr. Simon Springett reports

GLG LIFE TECH CORPORATION PROVIDES UPDATE REGARDING DELISTING FROM TSX AND LISTING ON NEX

GLG Life Tech Corp. is providing an update regarding the company's delisting review initiated by the Toronto Stock Exchange and the company's coming transfer of its listing to the NEX exchange.

As previously announced, the TSX initiated a delisting review of the company in April, 2024. The TSX advised that the company did not meet certain continued listing criteria, specifically relating to the company's low share price and low market capitalization, as well as the company's continued net losses and negative working capital situation. The TSX determined that, based on its determination that these criteria remained unmet (there were no other criteria identified by the TSX as unmet), the company would be delisted by effective close of market on Sept. 3, 2024.

The company has also previously announced that it has been in discussion with the TSX Venture Exchange regarding transferring its listing to that exchange. Given that the company is currently subject to a failure-to-file cease trade order issued by the B.C. Securities Commission in May of 2024 for failure to timely file its audited full-year 2023 financial reporting package, it is not possible to transfer to the TSX-V at this time. (The company has since filed its full-year 2023 financial reporting package and is current with its financial filings.)

To maintain a continuous listing, the company has applied to transfer its listing to the NEX exchange, and NEX has granted the application. The company's listing will be transferred to NEX, effective Sept. 4, 2024. Given the FFCTO, the company's shares will be listed but immediately suspended. The company is seeking revocation of the FFCTO and expects to provide further updates as that revocation application proceeds. If and when the FFCTO is revoked, NEX will conduct a reinstatement review. If NEX lifts the suspension, the company's shares will be eligible to be traded on NEX. The company would thereafter also have the option of evaluating whether it can meet TSX-V listing transfer requirements.

This transfer to the NEX exchange provides an opportunity for the company to remain listed and to continue working on its balance sheet. The company has already made substantial progress on its plan to lower its debt load, and the latest improvement resulting from the transfer of its Runde subsidiary will be reflected in the company's third quarter 2024 financial statements -- to continue increasing its sales and maintaining positive cash flow, all while addressing the recent regulatory challenges (the FFCTO and the TSX delisting process). Management's efforts over the past years to reduce operating costs, to lower the company's debt and to increase sales have all brought numerous successes, and management looks forward to continuing this positive trajectory, as well as working to have the FFCTO revoked for the company's shares to be available for trading on NEX.

About GLG Life Tech Corp.

GLG Life is a global leader in the supply of high-purity zero-calorie natural sweeteners, including stevia and monk fruit extracts used in food, beverages and dietary supplements. GLG Life's vertically integrated operations, which incorporate its fairness to farmers program and emphasize sustainability throughout, cover each step in the stevia and monk fruit supply chains, including non-genetically modified seed and seedling breeding, natural propagation, growth and harvest, proprietary extraction and refining, and marketing and distribution of the finished products. Additionally, to further meet the varied needs of the food and beverage and supplement industries, GLG Life's Naturals+ product line enables it to supply a host of complementary ingredients reliably sourced through its supplier network in China.

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