S&W Seed Harvesting Stevia For Commercial Production
FIVE POINTS, Calif., Aug. 8, 2012 /PRNewswire/ — S&W Seed Company (Nasdaq: SANW) today announced it has commenced its commercial harvest of stevia in 2012. The company’s agronomists anticipate that at least one additional stevia leaf harvest will be completed during calendar year 2012 on its initial 114-acre field in Chowchilla, California. This is the second year that stevia leaf will have been produced from the Chowchilla farmland, which was planted in calendar year 2011. After harvest, the stevia leaf will be dried and prepared for shipment at the company’s processing facility in Five Points, California.
The company recently planted a second generation field of approximately 150 additional acres using a selection of varieties that it believes may have characteristics superior to those of the first generation planting on the Chowchilla plot.
As a key component of its stevia development program, the company continues to utilize a portion of the Chowchilla location for research and development activities, including various harvesting techniques, while using a majority of the acreage for commercial purposes. The company will harvest approximately 75% of the field during this first harvest and anticipates harvesting 100% of the 114-acres during a second harvest to be completed later this fall.
Mark Grewal, chief executive officer of S&W Seed Company, commented, “Our stevia program continues to make progress. This is the second harvest from the same stevia plants which reaffirms our belief that, unlike China, the California climate is suited for harvests on a multiple year basis. Additionally, we continue to gain valuable insight as our agronomists experiment with various planting and harvesting techniques. As we pioneer commercial stevia production in California, we are heartened by overcoming the various challenges that arise. The developmental knowledge and experience gained should serve S&W well into the future.”
About S&W Seed Company
Founded in 1980 and headquartered in the Central Valley of California, S&W Seed Company is a leading producer of warm climate, high yield alfalfa seed varieties, including varieties that can thrive in poor, saline soils, as verified over decades of university-sponsored trials. S&W also offers seed cleaning and processing at its 40-acre facility in Five Points, California and has recently launched a business expansion initiative centered on its plan to mass produce stevia leaf in the U.S. in response to growing global demand for the all-natural, zero calorie sweetener from the food and beverage industry. For more information, please visit www.swseedco.com.
Safe Harbor Statement
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies, including statements regarding the potential success of the Company’s stevia program, and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in the Company’s 10-K for the fiscal year ended June 30, 2011, and other filings made by the Company with the Securities and Exchange Commission.
Contact: Robert Blum, Joe Dorame, Joe Diaz Matt Szot Lytham Partners, LLC Chief Financial Officer 602-889-9700 S&W Seed Company email@example.com 559-884-2535 www.lythampartners.com www.swseedco.com
SOURCE S&W Seed Company