GLG Life Tech (TSE:GLG) has released an update.
GLG Life Tech Corporation has reported a significant revenue increase in Q1 2024, with revenues of $3.5 million, up 123% from the previous year, driven by a rise in international stevia sales. Despite the revenue growth, the company experienced a larger net loss of $4.4 million compared to Q1 2023. Additionally, GLG has entered an agreement to transfer its subsidiary’s production facility, which will remove substantial bank debt from its balance sheet while retaining intellectual property rights.
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