SAN DIEGO, April 7, 2020 /PRNewswire/
-- Khrysos Industries, Inc. a wholly owned subsidiary of
Youngevity International, Inc. (NASDAQ: YGYI), a multi-channel
lifestyle company operating in three distinct business segments
including a commercial coffee enterprise and its commercial hemp
enterprise announced today that the company has begun producing
hand sanitizer in various sizes including 2 oz., 4 oz., 8 oz., and
1 Gallon Packaging. The company was granted a license by the
FDA to begin producing hand sanitizer in its Orlando, FL facility. The company
disclosed that there is demand for hand sanitizer for retail
distribution and within the health care system including retirement
homes and hospitals. The company brought online a
state-of-the-art facility that features a 46,200 sq. ft.
production area that includes 5,200 sq. ft. of class C7 sterile
capable workspace late last year and expect to be well positioned
to utilize its operation to produce hand sanitizer that is in high
demand due to the impact of the coronavirus.
"We believe our operation provides us the opportunity to help
meet the demand for hand sanitizer for the health care industry as
well as retail consumers to help protect against the spread of
COVID-19," said Dwayne Dundore PhD, President of
Khrysos. He continued, "It takes tremendous effort to source
all the components, especially the packaging material, to produce
this product, but our team is up for the challenge given the
magnitude of the need."
"We began shipping hand sanitizer today and expect to ramp up
production as necessary to meet the demand that is still in short
supply," said Dave Briskie,
President and CFO of YGYI, about its wholly owned subsidiary
Khrysos Industries. He continued, "Our team at Khrysos is taking
great pride in providing this product especially to the nurses and
doctors that are out there on the front line fighting for those
inflicted with this horrible virus."
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. Be sure to visit us at khrysosglobal.com, like
us on Facebook and follow us on Twitter, or contact us at
info@khrysosglobal.com.
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 being well
positioned to produce hand sanitizer to meet the demand for
hand sanitizer for the health care industry as well as retail
consumers and ramping up production of hand sanitizer as necessary.
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 produce hand sanitizer to meet the demand for hand
sanitizer for the health care industry as well as retail consumers,
our ability to ramp up production of hand sanitizer as necessary,
our ability to continue our international growth, our ability to
continue our hemp segment and coffee segment 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
Media Contact
Dwain Schenck
Schenck Strategies
203-223-5230
dwain@schenckstrategies.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/khrysos-industries-inc-a-wholly-owned-subsidiary-of-youngevity-international-inc-nasdaq-ygyi-secures-rights-to-produce-hand-sanitizer-from-fda-301036436.html
SOURCE Youngevity International, Inc.