SAN DIEGO, Oct. 10, 2019 /PRNewswire/ -- Youngevity
International, Inc. (NASDAQ: YGYI), a leading multi-channel
lifestyle company, and BeneYOU LLC, a nutritional and beauty
products company today announced that the parties have executed a
non-binding Letter of Intent whereby Youngevity International will
purchase certain assets of BeneYOU, LLC.
The parties have acknowledged their plans to execute a
definitive Asset Purchase Agreement in the coming weeks with an
intention to close the transaction by the end of October.
"We've built BeneYOU on principles of integrity, hard work and
progressive thinking," said BeneYOU CEO Ryan Anderson. "Like Youngevity, we know making
Customers and Associates the most important factors in our
decision-making process leads to their satisfaction. We are
especially gratified that the consistencies between our companies
are as strong as they are, and we're hopeful that we can bring this
transaction to a successful conclusion by the end of this
month."
Dave Briskie, President and CFO
of Youngevity, stated, "Given the size of the integration and the
amount of communication that will take place between both companies
we felt that disclosing where we are in the acquisition process was
prudent. Assuming a successful close, we will share additional
information regarding the transaction at that time."
About Youngevity International, Inc.
Youngevity International, Inc. ( NASDAQ : YGYI ), is a
multi-channel lifestyle company operating in 3 distinct business
segments including a commercial coffee enterprise, a commercial
hemp enterprise, and a multi-vertical omni direct selling
enterprise. The Company features a multi-country selling network
and has assembled a virtual Main Street of products and services
under one corporate entity, YGYI offers 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. For investor information, please visit
YGYI.com. Be sure to like us on Facebook and follow us on
Twitter.
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 execute a definitive Asset Purchase Agreement in
the coming weeks with an intention to close the transaction by the
end of October. 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 consummate the acquisition of
the assets of BeneYOU, LLC , our ability to successfully integrate
the assets of BeneYOU, LLC, 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
the BeneYOU, LLC acquisition or other 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-Kand 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
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
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SOURCE Youngevity International, Inc.