Youngevity International (NASDAQ: YGYI), a leading multi-channel lifestyle company operating in three distinct business segments, this morning announced the entry of its wholly owned subsidiary, Khrysos Industries, Inc., into a 5-year supply contract with DJB Industries Inc. to provide extraction services and end-to-end processing to produce isolate, water soluble isolate, distillate, and water-soluble distillate hemp derived products. According to the update, extraction, post processing fulfillment and revenues are anticipated to begin in the first quarter of 2020 with forecasted revenues in excess of $ 170 million through 2025. “Khrysos Industries has recently secured and announced $30 million dollars of post processing contracts for fulfillment over the next year so it was essential that we acquired a consistent supply of quality crude oil to fulfill these contracts. We now have extraction contracts in place that will allow us the potential of producing post processing material that has the revenue potential for $46 million dollars of isolate, distillate, water soluble products and other post processed materials annually. Our goal is to have extraction supply contracts in place by the end of 2019 that will provide us the ability to produce $100 million dollars of revenue opportunity for 2020 based on current market conditions within the post processing end of the business,” YGYI President and CFO Dave Briskie said in the news release. “This supply agreement with DJB provides excellent long-term crude oil supply and allows us to enter into additional supply contracts for our post processing products as well as provide us the necessary raw material necessary to produce products for our own brands utilizing these hemp derived extracts.”
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About Youngevity International Inc.
Youngevity International Inc. is a multi-channel lifestyle company operating in three 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, including health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry and innovative services. For more information, visit the company’s website at www.YGYI.com
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