YGYI - YGYI's Khrysos Industries Inks $11 Million Supply Contract for Sale and Processing of CBD Isolate Powder
SAN DIEGO, April 1, 2019 /PRNewswire/ -- Youngevity International, Inc. (NASDAQ: YGYI), a leading omni-direct lifestyle company, announced today that it executed a one year Supply and Processing Agreement to produce 99% pure CBD (No THC) Isolate. Shipping under the contract is expected to begin this month and continue in equal amounts through March of 2020.
"We are excited to reach the revenue stage for the end to end processing component of our business model. This contract encompasses 50% of our production capacity and we anticipate executing contracts for the balance of our current capacity within the next few months. Due to customer demand we are implementing our plan of increasing our end to end processing capabilities by 10 times in Q3 of this year providing estimated annual revenue potential in excess of $220 million at current market prices," said Dwayne Dundore, President of Khrysos.
"The Khrysos Industries business model is multi-dimensional, and we are just now starting to fully leverage the capabilities of our extraction systems, end to end processing platform, and the capabilities of INX Labs. We anticipate gearing up our production capabilities across the platform as we move through 2019," said Dave Briskie, President and CFO of YGYI about its wholly owned subsidiary Khrysos Industries.
About Youngevity International, Inc.
YGYI, Inc. (NASDAQ: YGYI), 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 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® Coffee Company (now part of the company's food and beverage division). The resulting company became Youngevity International, Inc. in July 2013. For investor information, please visit YGYI.com. Be sure to like us on Facebook and follow us on Twitter.
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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 the expected shipping timelines for product under the contract, anticipated execution of contracts for the balance of the capacity within the next few months, the anticipated annual revenue potential of the contract in excess of $220 million and the expected increased capacity and capabilities of the extraction technology.. 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 increase revenue through our extraction technology, increase capabilities and capacity within the timeframes disclosed and execute additional extraction technology contracts, our ability to generate annual revenue from the contract in excess of $220 million, and our ability to increase capacity and capabilities of the extraction technology ,, our ability to continue our international growth, our ability to continue our coffee segment growth, our ability to leverage our platform and global infrastructure to drive organic growth, 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 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, 2017 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.
Contacts:
Youngevity International, Inc.
Dave Briskie
President and Chief Financial Officer
1 800 982 3189 X6500
Investor Relations
YGYI investor relations
800.504.8650
investors@ygyi.com
Media Contact
Dwain Schenck
Schenck Strategies
203-223-5230
dwain@schenckstrategies.com
SOURCE Youngevity International, Inc.