NetworkNewsBreaks – Youngevity International Inc
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Posted On: 08/19/2019 3:53:34 PM
NetworkNewsBreaks – Youngevity International Inc.’s (NASDAQ: YGYI) Khrysos Industries Enters Strategic 5-Year Supply Agreement with DJB Industries
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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