Leading omni-direct lifestyle company Youngevity International (NASDAQ: YGYI) announced on Thursday that its wholly-owned subsidiary, Khrysos Industries, has closed on a 45-acre area of land in Central Florida. The multi-purpose site will hold a 5-acre greenhouse, a research and development (“R&D”) facility committed to hemp plant genetic research, a post processing tolling facility, and 20 acres of farmable land for future use. In addition, the company has leased an 8,800 square foot facility in Central Florida to serve as the assembly, manufacturing, and production facility for Khrysos’ one-ton Hyper Supercritical extraction systems. “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. 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,” Khyrsos Industries president Dwayne Dundore stated in the news release. “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.”
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About Youngevity International, Inc.
Youngevity International, Inc. 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, Youngevity offers proven 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. The company was formed during 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 more information, visit the company’s website at www.YGYI.com.
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