S&W Seed Announces Completion of Lab Work and Commencement of Field Trials on Biotech Alfalfa Seed
FIVE POINTS, Calif., Oct. 22, 2012 /PRNewswire/ — S&W Seed Company (Nasdaq: SANW) today announced the successful conclusion of the first phase of a Forage Genetics International (FGI) collaboration to introduce the Genuity® Roundup Ready® trait, into one of S&W’s highest yielding, salt tolerant, non-dormant alfalfa seed varieties. FGI and S&W are now commencing field trials to confirm agronomic performance and trait efficacy. Following successful test results that meet the necessary guidelines, S&W will start the seed ramp up necessary to have the quantities required for the marketplace.
Concurrently, FGI has been integrating the Genuity® Roundup Ready® trait into a second S&W variety which is anticipated to begin field trials in the next twelve months.
Mark Grewal, chief executive officer of S&W Seed Company, commented, “For the last two years, we have been working with FGI to introduce the Genuity® Roundup Ready® trait into two of our highest yielding, salt tolerant, non-dormant varieties. These efforts now allow the planting of our first Roundup Ready variety at three trial locations to ensure that our internal agronomic performance and FGI trait requirements will be met. If we are successful, we will be able to meet the growing demands of domestic customers who want to take advantage of this integrated technology.”
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 Seed also offers seed cleaning and processing at its 40-acre facility in Five Points, California and, in 2011, began the commercial launch of its California-based stevia leaf business in response to the 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 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, 2012, and other filings made by the Company with the Securities and Exchange Commission.
Note to editors: Genuity® and Roundup Ready® are registered trademarks of Monsanto Technology LLC.
Contact: Robert Blum, Joe Dorame, Joe Diaz Matt Szot Lytham Partners, LLC Chief Financial Officer 602-889-9700 S&W Seed Company firstname.lastname@example.org 559-884-2535 www.lythampartners.com www.swseedco.com
SOURCE S&W Seed Company