GLG has signed a 12-month agreement to sell between US$9m and US$12m of Luo Han Guo (LHG) extract to an undisclosed customer. This transaction cements the firm's move to diversify its revenue stream beyond stevia, and should help improve margins starting in Q414. Our C$144.2m NPV is derived from our projection that the company will return to generating consistently positive EBITDA in 2016, supported by the LHG business and the harvesting of higher-yielding leaf as part of GLG's core stevia business.
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