Youngevity International, Inc. announced that it executed a one-year Supply and Processing Agreement to produce 99 percent pure CBD Isolate.
The agreement will be fulfilled by Youngevity’s wholly owned subsidiary Khrysos Industries, which Youngevity formed in February after completing the acquisition of Khrysos Global, a manufacturer of hemp-based CBD extraction equipment. Shipping under the contract is expected to begin this month and continue in equal amounts through March of 2020.
“We are excited to reach the revenue stage for the end-to-end processing component of our business model,” said Dwayne Dundore, president of Khrysos. “This contract encompasses 50 percent of our production capacity and we anticipate executing contracts for the balance of our current capacity within the next few months. Due to customer demand we are implementing our plan of increasing our end-to-end processing capabilities by 10 times in Q3 of this year, providing estimated annual revenue potential in excess of $220 million at current market prices.”
“The Khrysos Industries business model is multi-dimensional, and we are just now starting to fully leverage the capabilities of our extraction systems, end-to-end processing platform and the capabilities of INX Labs,” said Dave Briskie, president and CFO of Youngevity. “We anticipate gearing up our production capabilities across the platform as we move through 2019.”