Leading omni-direct lifestyle company Youngevity International Inc. (NASDAQ: YGYI) this morning announced its entry into a binding agreement to purchase all of the assets of Khrysos Global, a Florida-based manufacturer of hemp-based CBD extraction equipment. Per the update, this acquisition is intended to establish YGYI’s newly formed, wholly owned subsidiary, Khrysos Industries Inc., as a global player in the field-to-finish hemp-CBD oil, isolate and distillate market. “I’m ecstatic about this purchase and what it signals for this moment in our company’s history,” Dave Briskie, president and CFO of YGYI, stated in the news release. “The purchase of the assets of Khrysos Global should be the catalyst that launches YGYI into the hemp-CBD space. We expect it will serve as a cornerstone of our comprehensive strategy as it relates to the production, cultivation, and extraction of hemp, CBD oil, as well as other CBs (cannabinoids).” Closing of the transactions related to the purchase agreement is scheduled for February 15, 2019, subject to the satisfaction of various closing conditions.
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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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