Youngevity International (NASDAQ: YGYI), a multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise, commercial hemp enterprise and multi-channel lifestyle company, today announced that its wholly-owned subsidiaries, CLR Roasters LLC and Khrysos Industries, Inc. (the “US Partners”) have entered into an agreement with H&H Coffee Group Export Corp and The Nica Hemp Cooperative, Inc (the “Nicaragua Partners”) to acquire the 2,200 acre Chaguitillo Farms in Sebaco-Matagalpa, Nicaragua. The joint venture will utilize the property to erect a large-scale processing facility and to grow hemp on the land. Planned improvements to the property are anticipated to total approximately $30,000,000 dollars, with H&H contributing the 2,200-acre farm with an estimated value of about $10 million. All the capital toward the construction of the project, estimated at $20 million dollars, will be provided by The Nica Hemp Cooperative. Along with its expertise in the hemp business, the US Partners will initially contribute $3,000,000 of extraction equipment to the project. Additionally, the US Partners aim to issue 1.5 million shares of YGYI common stock to the Nica Hemp Cooperative in exchange for a 50% stake in the land and the improvements (having a $30,000,000 estimated value at completion). The US Partners will also issue 5 million warrants with a strike price $1.50 per share to the Nica Hemp Cooperative in exchange for a 75% controlling stake in the hemp grow and oil extraction business, subject to Nasdaq approval. The warrants will be issued when the project is completed and initiates its operations. “This is a very impressive partnership and collaboration between our Hemp Enterprise, our Coffee Enterprise and our very strong and growing strategic business relationship in Nicaragua. We feel that the value of YGYI’s 50% interest in the land and infrastructure at completion of the project along with the assumption that the warrants will be exercised represents a significant premium to our current trading price,” Youngevity president and CFO Dave Briskie stated in the news release.
To view the full press release, visit http://cnw.fm/KJiE9
About Youngevity International, Inc.
Youngevity International, Inc. is a multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise, a commercial hemp enterprise, and a multi-vertical omni direct selling enterprise. The company features a multi country selling network and has assembled a virtual Main Street of products and services under one corporate entity. YGYI offers products from the six top selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry, as well as innovative services. For more information, please visit www.YGYI.com.
NOTE TO INVESTORS: The latest news and updates relating to YGYI are available in the company’s newsroom at http://cnw.fm/YGYI
HempWireNews (HWN) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HNW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWireNews (HWN) is where HEMP news, content and information converge.
To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.HempWireNews.com
Do you have a questions or are you interested in working with HWN? Ask our Editor
HempWireNews is part of the InvestorBrandNetwork.