SAN DIEGO, Nov. 7, 2019 /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 expanding commercial hemp enterprise, announced today that Florida's Agricultural Environmental Services Bureau of Licensing and Enforcement has granted Khrysos Industries a Hemp Seed Dealer License.
"Khrysos Industries, in anticipation of being granted the seed dealer license, has already purchased Six 45 X 8 Hemp Seed Grow Houses complete with auto temperature and humidity-controlled systems with all houses containing UV lighting systems and automated irrigation. These automated climate control grow houses all are housed with dehumidification systems and will be located on our 45-acre tract of land in Central Florida," said Dr. Dwayne Dundore, President of Khrysos.
"We are proud to be granted this Seed Dealer License by the Florida Department of Agriculture," said Dave Briskie, President and CFO of YGYI, about its wholly owned subsidiary Khrysos Industries. "I am anxious to see Aftab A. Khan, put his PHD in plant breeding and genetics from Cornell University along with his 25 plus years of experience in plant breeding, genetics, molecular biology and biochemistry to work in leading this division of our company. We believe his expertise in genome editing, tissue culture production, clonal propagation, and seed production provides us with an opportunity to take a leading role in the Hemp Industry."
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 khrysosglobal.com, like us on Facebook and follow us on Twitter, or contact us at [email protected].
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 expertise of Aftab A. Khan, in genome editing, tissue culture grow, clonal propagation, and seed production providing an opportunity to take a leading role in the Hemp Industry. 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 take a leading role in the Hemp Industry, 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 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.
Youngevity International, Inc.
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SOURCE Youngevity International, Inc.