Leading omni-direct lifestyle company Youngevity
International (NASDAQ: YGYI) today announced that it has completed closing of
the acquisition of the assets of Khrysos Global –a Tampa, Florida manufacturer of
hemp-based CBD extraction equipment. According to the update, the acquisition
intends to establish YGYI’s newly formed wholly-owned subsidiary, Khrysos
Industries, Inc, as a global player in the field-to-finish hemp-CBD oil,
isolate, and distillate market. The move further gives YGYI ownership of INX Laboratories and its
testing facilities, enabling the company with unprecedented capabilities in the
formulation, quality control and testing standards of its CBD products. “We set
out a plan to create a vertical opportunity in the hemp space,” YGYI President
and CFO Dave Briskie said of the acquisition. “This is a significant step
as it relates to the production, cultivation, and extraction of hemp, CBD oil,
as well as other cannabinoids. We proudly welcome Dwayne Dundore, as the President
of newly formed Khrysos Industries along with his entire and very capable team
at Khrysos and INX Labs.”
To view the full press release, visit http://ibn.fm/MhZ60
About Youngevity International, Inc.
Youngevity International, Inc. 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, Youngevity
offers proven 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. The company was formed during
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 more
information, visit the company’s website at www.YGYI.com
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