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 [email protected].
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.
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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.
Youngevity International, Inc.
President and Chief Financial Officer
YGYI Investor Relations
SOURCE Youngevity International, Inc.