Additional 6.4 Million Pounds Processed Slated to Ship in Q1
Youngevity International, Inc. (YGYI), a leading omni-direct lifestyle company, announced today that its wholly-owned subsidiary, CLR Roasters, has begun processing and shipping its first containers of green coffee under its recently entered 5-year green coffee contract. The company already has orders against the contract for 230 containers scheduled to ship in the first quarter of this year. The initial coffee shipments are for predominantly Strictly High Grown washed Nicaraguan conventional coffees, although 15 containers of naturals were part of the initial shipments.
“We are very pleased to see this contract producing revenue as we kick off 2019,” stated Dave Briskie, President and CFO of Youngevity, CLR Roaster’s parent company. “We have already taken possession of 35 million pounds of green coffee and the processing is well under way. This represents 77% of the green coffee needed to meet our targets outlined in the contract and we do not anticipate any obstacles in acquiring the final 13% of the green coffee required for year one.”
Marisol Siles, President of Siles Family Plantation Group, stated, “We are proud to have reached the point of generating revenue under this significant contract. It is gratifying to see the employment opportunities being realized as a result of this contract. We truly have become a major employer in Matagalpa, Nicaragua.”
About CLR Roaster
Youngevity’s coffee manufacturing division, CLR Roasters, was established in 2001 and is a wholly-owned subsidiary. CLR Roasters is a full-sized coffee roaster that produces gourmet coffees under its own boutique brands — Café La Rica®, Josie’s Java House®, and Javalution®; manufactures a variety of private labels for major national chains; and for the direct selling channel under Youngevity International. The company remains one of the largest suppliers in North America to the cruise line industry. CLR was the first entrant into the fortified coffee niche with its Youngevity JavaFit® brand. In May 2014, CLR acquired a coffee plantation and processing facility in Nicaragua, allowing the entity to control coffee production and quality — from field to cup.
About Youngevity International, Inc.
YGYI, Inc. (NASDAQ:YGYI), is a leading omni-direct lifestyle company offering a hybrid of the direct selling business model, that also offers e-commerce and the power of social selling. Assembling a virtual Main Street of products and services under one corporate entity, YGYI offers products from the eight top selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, fashion, essential oils, photo, as well as innovative services. The Company was formed in the course of the summer 2011 merger of Youngevity Essential Life Sciences with Javalution® Coffee Company (now part of the company’s food and beverage division). The resulting company became Youngevity International, Inc. in July 2013. For investor information, please visit YGYI.com. Be sure to like us on Facebook and follow us on Twitter.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, and includes statements regarding the 230 containers of green coffee scheduled to ship in the first quarter of this year and not anticipating any obstacles in acquiring the final 13% of the green coffee required for year 1. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, our ability to ship the 230 containers of green coffee as scheduled in the first quarter of this year, our ability to acquire the final 13% of the green coffee required for year 1 without obstacles, our ability to continue our financial performance and the other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2017 and our subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
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