Monthly Capacity of 4000 Liters Puts Hemp Oil Remediation Tolling Line into Service Today
SAN DIEGO, Dec. 2, 2019 /PRNewswire/ -- 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 its commercial hemp enterprise, announced today that it has brought a new triple distillation system online at its recently leased 82,000 square foot post processing and finished goods production facility in Orlando, Florida. The new system is planned to be used exclusively for hemp oil remediation on a toll processing basis. Khrysos Industries also announced that it increased its capabilities in Isolate production by bringing online two 150 Isolate Reactors which is expected to increase the company's ability to produce Isolate by 6-fold.
"We believe these capacity improvements within our facility will provide unique competitive advantages for our business. Our plan is to offer turn-key solutions for the hemp industry and these two additions are a major step forward for our company in terms of capabilities available in the space," said Dwayne Dundore PhD, President of Khrysos.
"We are seeing a high demand for hemp oil remediation and tolling capabilities in our industry. We believe expanding our tolling capacity places our company in a unique position to generate revenue in multiple segments of the market," said Dave Briskie, President and CFO of YGYI, about its wholly owned subsidiary Khrysos Industries. "Being able to provide turn-key solutions in a triple distillation facility should provide unique competitive advantages that we anticipate will expand our customer base and drive revenue while improving our opportunity to drive our bottom-line profits."
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 email@example.com.
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 planned use of the new system exclusively for hemp oil remediation on a toll processing basis, the increased capabilities in Isolate production being expected to increase Khrysos Industries' ability to produce Isolate by 6 fold, these capacity improvements within Khrysos Industries' facility providing unique competitive advantages for our business, our plan to offer turn-key solutions for the hemp industry, expanding our tolling capacity placing us in a unique position to generate revenue in multiple segments of the market and being able to provide turn-key solutions in a triple distillation processing facility providing unique competitive advantages that will expand our customer base and drive revenue while improving our opportunity to drive our bottom-line profits. 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 use the new system exclusively for hemp oil remediation on a toll processing basis, our ability to use the increased capabilities in Isolate production to increase Khrysos Industries' ability to produce Isolate by 6 fold, our ability to use these capacity improvements within Khrysos Industries' facility to provide unique competitive advantages for our business, our ability to sell turn-key solutions for the hemp industry, our ability to expand our tolling capacity and place us in a unique position to generate revenue in multiple segments of the market, our ability to leverage the new distillation system to expand our customer base and generate additional revenue while improving our opportunity to drive our bottom-line profits , our ability to continue our hemp segment and coffee segment growth, our ability to continue our international 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, 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.
Youngevity International, Inc.
President and Chief Financial Officer
YGYI Investor Relations
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