The Multi-Purpose Site Will Be Home to Post Processing Tolling Facility, an R&D Facility Dedicated to Hemp Plant Genetic Research, a 5-Acre Greenhouse, and 20 Acres of Farmable Land for Future Use
SAN DIEGO, Feb. 28, 2019 /PRNewswire/ -- Youngevity International, Inc. (YGYI), a leading omni-direct, multi-vertical lifestyle company, announced today that its wholly-owned subsidiary, Khrysos Industries, has closed on a 45-acre tract of land in Central Florida. The company advised that it intends to move quickly to erect two separate, already contracted , pre-fabricated 2,800-square-foot buildings on the land – one of which will be dedicated as a revenue center focused on toll processing utilizing Khrysos' new continuous flow post processing system. This end-to-end industrial food grade stainless steel system combines falling film ethanol removal, wiped-film first and second-stage distillation, all in one system with estimated 480 liter production through put capacity. The system also includes decarboxylation and filtration. The second building will be dedicated to hemp genetic research with the aim at increasing specific yields of certain cannabinoids. This combined with the 5-acre greenhouse will allow for the production of tissue culturing and quality hemp seed production. Additionally, the company announced it has leased an 8,800 square foot facility in Central Florida that will serve as the assembly, manufacturing, and production facility for Khrysos' one-ton Hyper Supercritical extraction systems.
"Today we start to unfold more aspects of Khrysos Industries' capabilities and multiple revenue centers built into its business model," said Dave Briskie, President and CFO of YGYI. "This end-to-end post-processing facility is designed to not only act as a profit center that will help meet the significant demand of processing hemp oil into non-THC isolate and distillate, but will also double as a working showroom for prospective clients to see our end-to-end systems in full-scale production."
"This is an exciting time for Khrysos Industries as we focus on capitalizing on the shortage of production of non-THC oil into isolate and distillate and begin to address the growing shortage of quality tissue culturing and seed availability within the hemp industry," said Dwayne Dundore, President of YGYI's newly-formed Khyrsos Industries. "The pre-fabricated buildings are scheduled to be delivered to the site in the middle of March and the 5-acre greenhouse will begin to be assembled in early April. We anticipate pre-production processing beginning on a small scale in early April and ramping up to full production with our end-to-end system in early July," Mr. Dundore continued. "We anticipate that our genetics research facility and our greenhouse production capabilities will be at full-scale in the production of tissue culturing and quality hemp seeds as we move into the 2020 growing season."
About Youngevity International, Inc.
YGYI, Inc. (YGYI), is an emerging conglomerate with a rapidly growing portfolio of consumer brands produced via in-house manufacturing and distributed by traditional and non-traditional channels including a multi country direct selling network. The brand has pioneered a hybrid of the direct-selling business model, and has a deep interest in 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 plans to erect two separate, already contracted , pre-fabricated 2,800-square-foot buildings on a 45-acre tract of land in Central Florida, to serve as an end-to-end post-processing facility and working showroom, pre-production processing beginning on a small scale in early April and ramping up to full production with our end-to-end system in early July, and genetics research facility and greenhouse production capabilities being at full-scale in the production of tissue culturing and quality hemp seeds as we move into the 2020 growing season. 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 quickly erect two separate, already contracted , pre-fabricated 2,800-square-foot buildings on the 45-acre tract of land in Central Florida, to serve as an end-to-end post-processing facility and working showroom, our ability to commence pre-production processing beginning on a small scale in early April and ramping up to full production with our end-to-end system in early July, and our ability to implement our genetics research facility and greenhouse production capabilities at full-scale in the production of tissue culturing and quality hemp seeds by the 2020 growing season, our ability to continue our 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 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.
Youngevity International, Inc.
President and Chief Financial Officer
1 800 982 3189 X6500
YGYI investor relations
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