SAN DIEGO, Nov. 12, 2019 /PRNewswire/ -- CLR Roasters,
a Miami, Florida based company and
wholly owned subsidiary of Youngevity International, Inc.
(NASDAQ:YGYI), announced today an expansion of their operating
partnership with H&H Coffee Group Export as the parties have
entered into an exclusive arrangement to cultivate hemp grow and
the extraction of hemp derived cannabinoids into hemp-based crude
oil in the Chagüitillo, Sebaco - Matagalpa region of
Nicaragua for sales and
distribution of hemp derived ingredients abroad. The program
will leverage the intellectual property of YGYI's Khrysos
Industries, which manufactures Hyper Super Critical CO2 extraction
systems, with CLR Roasters and H&H Coffee Export Group's
expertise in agriculture and the creation of field to finish
products.
This project has been approved by the Nicaraguan Investment
Authority, and is being fully supported by all agricultural
ministries, as well as national and regional regulatory bodies. The
designated hemp grow areas will have oversight from the National
Compliance Bureau of Nicaragua to
ensure that the hemp crop complies with all government approved
specifications.
The new partnership will consist of YGYI making the necessary
investment in providing the initial purchase and installation of
the required CO2 Hyper Super Critical Extraction Systems while
H&H Coffee Group Export will contribute the initial land for
the program. As the project scales, H&H Coffee Group Export
will contribute up to 1,000 acres of fertile lands with proper
water rights in Chagüitillo, Sebaco - Matagalpa for the Hemp grow
and harvest and the partnership will finance equipment needs as
necessary.
"H&H Coffee Group has always been committed to the welfare
of the community, and we are proud to continue expanding our
presence in Sebaco - Matagalpa. Moreover, we are overwhelmed with
gratitude to the state entities that have made this investment
possible," says Alain Piedra
Hernandez, Owner and CEO, H&H Coffee Group
Export.
This new venture will have an immediate economic impact,
including significant investment in infrastructure by local and
regional Government Agencies of Nicaragua as they provide road improvements,
expanded electrical services and oversight, security, and social
improvement programs which is estimated to bring over 1,000 new
jobs to the people in the Sebaco - Matagalpa region.
Marisol Siles, President, H&H
Coffee Group Export C.I. LTD. added, "We are incredibly grateful
and excited to have been given an opportunity to develop a new
industry with both social and economic benefits for the people of
Nicaragua."
Dave Briskie, President and CFO
of Youngevity stated, "We have invested heavily in our Nicaragua based operations over the last
several years. We believe we are now beginning to recognize
sustainable returns on this investment. We have immense
gratitude for the hard work and dedication provided by Ernesto Aguila, the President of our Coffee
operations, and with our loyal partners Alain Piedra Hernandez and Marisol Siles of H&H. We strongly believe
that this new venture will further strengthen our partnerships in
Nicaragua and anticipate that this
project will open up opportunities for other countries in
Central America."
Dr Dwayne Dundore, the President
of Khrysos Industries, stated, "We just received our Hemp Seed
Dealer License from the State of
Florida last week and it looks like we will be putting it to
good use on this project. We believe the climate in
Nicaragua is conducive to several
hemp harvests per year. I am really impressed with the forward
thinking of Nicaragua's national
and local agencies that makes this project possible and it will be
gratifying to see our extraction capabilities setting a standard
for the Hemp Industry in Central
America."
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
http://www.khrysosglobal.com, like us on Facebook
<https://www.facebook.com/Khrysos-Industries-319252092134375/ and
follow us on Twitter, or contact us at info@khrysosglobal.com.
About CLR Roasters
Youngevity's coffee manufacturing
division, CLR Roasters, was established in 2001 and is a
wholly-owned subsidiary. CLR Roasters is a full-sized coffee
roaster that produces gourmet coffees under its own boutique brands
-- Café La Rica®, Josie's Java House®, and Javalution®;
manufactures a variety of private labels for major national chains;
and for the direct selling channel under Youngevity International.
The company remains one of the largest suppliers in North America to the cruise line industry. CLR
was the first entrant into the fortified coffee niche with its
Youngevity JavaFit® brand. In May
2014, CLR acquired a coffee plantation and processing
facility in Nicaragua, allowing
the entity to control coffee production and quality -- from field
to cup.
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.
To receive future press releases via email, please visit:
https://ygyi.com/investors/email-alerts/
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 new venture
further strengthening our partnerships in Nicaragua and opening up opportunities for
other countries in Central
America. 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 further strengthen our
partnerships in Nicaragua, our
ability to open up opportunities for other countries in
Central America our ability to
continue our hemp segment growth, 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 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.
Contacts:
Youngevity International, Inc.
Dave Briskie
President and Chief Financial Officer
800-982-3189 X6500
Investor Relations
YGYI Investor Relations
800-504-8650
investors@ygyi.com
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SOURCE Youngevity International, Inc.