YGYI - NetworkNewsBreaks - Youngevity International Inc. (NASDAQ: YGYI) Subsidiary Secures Finance and Supply Agreement for 2020 Growing Season
Youngevity International (NASDAQ: YGYI) today announced its wholly owned subsidiary, CLR Roasters, has entered into a finance and supply agreement for the 2020 growing season with H&H Export Y CIA, LTDA, funded by H&H Export's $46,500,000 credit facility. The credit line, which has been established by a Nicaraguan special purpose agency, is for the purchase of up to 49.5 million pounds, or 495,000 Quintals, of green coffee. CLR Roasters provided further collateral totaling a value of $11.1 million to secure the financing arrangement. CLR Roasters intends to process the green coffee beans for the 2020 growing season at its new, state of the art production facility, and expects to have the processing plant fully online by July. “This is a big deal for CLR. We believe we are now well positioned to exceed last year's record revenue and profit numbers. Having these significant financial resources should be a key component for driving our 2020 green coffee program,” CLR Roasters president Ernesto Aguila stated in the news release.
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About Youngevity International
Youngevity International, Inc. (NASDAQ: YGYI), is a multi-channel lifestyle company operating in three 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 more information, visit the company’s website at www.YGYI.com.
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