Khrysos Industries Expects Shipping under the One Year Agreement to begin in August 2019.
Youngevity International, Inc. (NASDAQ: YGYI), a multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise and its newly acquired commercial hemp enterprise, announced today that it executed a one year Supply and Processing Agreement to produce water soluble CBD (No THC) Isolate expected to generate $19 million in revenues. Shipping under the agreement is expected to begin in August 2019 and continue through July of 2020. The one-year agreement also contains customary annual renewal clauses.
“We are seeing increased demand for our water soluble, hemp derived, CBD Isolate. This contract is consistent with the revenue growth we anticipated in the second half of 2019 and sets us up well for 2020. We are continuing to develop various forms of hemp derived CBD as an ingredient and are committed to offering a one stop shop for everything CBD. We believe we are well positioned to provide development opportunities among a broad category of products that may be considering the inclusion of hemp derived CBD.” Said Dwayne Dundore, President of Khrysos.
“The commercial hemp industry is becoming aware of the capabilities and uniqueness of Khrysos Industries. We continue to develop a strategic business model that is multi-dimensional and offers full service capabilities in the burgeoning hemp space. We remain focused on developing and expanding our capabilities in extraction, end to end processing, testing, and turn key product manufacturing solutions for the hemp industry.” Said Dave Briskie, President and CFO of YGYI about its wholly owned subsidiary Khrysos Industries.
About Khrysos Industries, Inc.
Khrysos Industries is a leading manufacturer of commercial hemp-based CBD extraction, post processing equipment, and end-to-end processor of CBD isolate, distillate, water soluble Isolate, and water-soluble distillate. It’s subsidiary, INX Laboratories provides a broad range of testing services including potency analysis for its supply partners of hemp derived CBD products. Khrysos provides hemp growers, feedstock suppliers, and CBD crude oil producers the use of equipment, intellectual capital, production consultancy, tolling services, and wholesale CBD channel sales capabilities. Khrysos Industries was acquired by Youngevity International (NASDAQ: YGYI) on February 12th, 2019. Be sure to visit us at www.khrysosglobal.com, like us on Facebook and follow us on Twitter, or contact us at .
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.
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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 agreement being expected to generate $19 million in revenues, shipping under the agreement commencing in August 2019, demand increasing for our water soluble, hemp derived, CBD Isolate, the agreement setting us up well for 2020, continuing to develop various forms of hemp derived CBD as an ingredient, continuing to develop a strategic business model that is multi-dimensional and offers full service capabilities in the burgeoning hemp space, developing and expanding our capabilities in extraction, end to end processing, testing, and turn key product manufacturing solutions for the hemp industry. 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 generate $19 million in revenues under the agreement, our ability to commence shipments under the agreement in August 2019, our ability to increase demand for our water soluble, hemp derived, CBD Isolate, our ability to benefit from the agreement in 2020, our ability to continue to develop various forms of hemp derived CBD as an ingredient, our ability to develop and expand our capabilities in extraction, end to end processing, testing, and turn key product manufacturing solutions for the hemp industry, our ability to continue our international growth, our ability to continue our coffee segment growth, our ability to leverage our platform and global infrastructure to drive organic growth, our ability to improve our profitability, expand our liquidity, and strengthen our balance sheet, our ability to continue to maintain compliance with the NASDAQ requirements, the acceptance of the omni-direct approach by our customers, our ability to expand our distribution, our ability to add additional products (whether developed internally or through acquisitions), 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, 2018 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.
Youngevity International, Inc.
President and Chief Financial Officer
1 800 982 3189 X6500