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Youngevity Subsidiary Enters Into 5-Year Contract to Purchase Hemp Plant Biomass

Khrysos

Khrysos Industries, Inc. a wholly owned subsidiary of Youngevity International (YGYI), recently announced a five-year supply contract with Magu Maiden Farms, LLC.

The contract is to provide extraction services and end-to-end processing to produce isolate, water soluble isolate, distillate and water-soluble distillate hemp derived products.

“We are excited to add this new long-term contract to our portfolio,” said Dwayne Dundore, president of Khrysos. “We have strategically targeted multiple long-term relationships that we believe places Khrysos in a stronger position to leverage the expansion taking place within the post processing area of our business.”

The arrangement allows Magu Maiden Farms to concentrate on growing and expanding operations, while Khrysos leverages its ability to implement extraction and post processing to its mutual best interests.

Maria Rubiano, co-founder of Magu Maiden Farms said, “The Magu–Khrysos partnership is a win-win collaboration which will not only accelerate our growth this year but should enable us to scale each year over the next five years.”

“The Khrysos Industries multi-dimensional distributed business model is gaining momentum,” said Dave Briskie, president and CFO of YGYI,.  “The team at Khrysos has executed multiple projects including the buildout and move to our post processing facilities and the completion of our assembly operations.  We continue to see that our pre- and post-processing expertise, combined with the capabilities of our analytical testing lab INX, provides a distinct competitive advantage within the hemp space.”

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