Youngevity International (NASDAQ: YGYI), a leading
multi-channel lifestyle company, this morning announced entry of its wholly
owned subsidiary, Khrysos Industries, into a one year supply and processing
agreement to produce water soluble CBD Isolate, which contains no THC and is
expected to generate revenues of $19 million. According to the update, shipping
under the agreement is expected to begin in August 2019 and continue through July
of 2020. Customary annual renewal clauses are also contained in the one-year
agreement. “The commercial hemp industry is becoming aware of the capabilities
and uniqueness of Khrysos Industries,” YGYI President and CFO Dave Briskie said
in the news release. “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.”
To view the full press release, visit http://ibn.fm/QZKRQ
About Youngevity International Inc.
Youngevity International 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
atreet 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(R) 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.
NOTE TO INVESTORS: The latest news and updates
relating to YGYI are available in the company’s newsroom at http://ibn.fm/YGYI
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