FDA/CDC Approved Formula Begins Shipping this Week
Khrysos Industries, Inc., a wholly owned subsidiary of Youngevity International, Inc. (NASDAQ: YGYI), a multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise and a commercial hemp enterprise, announced today that it has begun producing hand sanitizer in various sizes including two ounce, four ounce, 8 ounce, and one gallon packaging. Khrysos was granted a license by the FDA to begin producing hand sanitizer in its Orlando, Florida facility.
The company disclosed that there is retail distribution demand for hand sanitizer, as well as a demand within the health care system including retirement homes and hospitals. In 2019, Khrysos brought online a state-of-the-art facility that features a 46,200 square feet production area, including 5,200 square feet of class C7 sterile capable workspace. With this facility, the company is well equipped to produce and meet the urgent need for hand sanitizer due to the impact of the coronavirus.
“Our operation positions us to help meet the high retail and healthcare demand for hand sanitizer, which protects against the spread of COVID-19,” said Dwayne Dundore PhD, President of Khrysos. “It takes tremendous effort to source all the components, especially the packaging material, to produce this product, but our team is up for the challenge given the magnitude of the need.”
“We began shipping hand sanitizer today and expect to ramp up production as necessary to meet the demand that is still in short supply,” said Dave Briskie, President and CFO of YGYI. “Our Khrysos team takes great pride in providing this product, especially to the nurses and doctors out there on the front line fighting for those inflicted with this horrible virus.”
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. Its 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 khrysosglobal.com, like us on Facebook and follow us on Twitter, or contact us at .
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
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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 expertise of Aftab A. Khan, in genome editing, tissue culture grow, clonal propagation, and seed production providing an opportunity to take a leading role in 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 take a leading role in the Hemp Industry, 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 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.
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