SAN DIEGO, Calif. — October 10, 2019 – Youngevity International, Inc. (NASDAQ: YGYI), a leading multi-channel lifestyle company, and BeneYOU LLC, a nutritional and beauty products company today announced that the parties have executed a non-binding Letter of Intent whereby Youngevity International will purchase certain assets of BeneYOU, LLC.
The parties have acknowledged their plans to execute a definitive Asset Purchase Agreement in the coming weeks with an intention to close the transaction by the end of October.
“We’ve built BeneYOU on principles of integrity, hard work and progressive thinking,” said BeneYOU CEO Ryan Anderson. “Like Youngevity, we know making Customers and Associates the most important factors in our decision-making process leads to their satisfaction. We are especially gratified that the consistencies between our companies are as strong as they are, and we’re hopeful that we can bring this transaction to a successful conclusion by the end of this month.”
Dave Briskie, President and CFO of Youngevity, stated, “Given the size of the integration and the amount of communication that will take place between both companies we felt that disclosing where we are in the acquisition process was prudent. Assuming a successful close, we will share additional information regarding the transaction at that time.”
About Youngevity International, Inc.
Youngevity International, Inc. ( NASDAQ : YGYI ), is a multi-channel lifestyle company operating in 3 distinct business segments including a commercial coffee enterprise, a commercial hemp enterprise, and a multi-vertical omni direct selling enterprise. The Company features a multi-country selling network and has assembled a virtual Main Street of products and services under one corporate entity, YGYI offers products from the six top selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry, as well as innovative services. 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 plans to execute a definitive Asset Purchase Agreement in the coming weeks with an intention to close the transaction by the end of October. 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 consummate the acquisition of the assets of BeneYOU, LLC , our ability to successfully integrate the assets of BeneYOU, LLC, 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 the BeneYOU, LLC acquisition or other 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-Kand 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
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YGYI Investor Relations