SAN DIEGO — May 12, 2020 — Youngevity International Inc., today announced that its wholly-owned subsidiaries, CLR Roasters LLC and Khrysos Industries Inc. which are U.S. partners, along with its Nicaraguan partners, have officially broken ground on the hemp grow and oil extraction joint venture project taking place on the 2,200 acre Chaguitillo Farms in Sebaco-Matagalpa, Nicaragua. The company announced the signing of the venture on April 21, 2020. The first phase of the development includes plans to run electricity that will power the 15,000 amp electrical service that is necessary to power the project. The official electrical permits have been approved and the joint venture released a rendering of the project as an update to stakeholders and the community.
“It is impressive to see how quickly this project is getting off the ground and we are grateful for the collaboration between our Hemp Enterprise, our Coffee Enterprise and our strategic business partners in Nicaragua. We are proud to share our first of what will be many updates to all stakeholders,” said Dave Briskie, president and CFO of Youngevity.
“We are enthusiastic about our opportunity to become a lead player in the hemp industry in Nicaragua and what this project means to the people here. To witness this groundbreaking is very satisfying as this is the first of many steps planned as we work to bring this project to fruition,” said Alain Piedra Hernandez, president of H&H Export Y CIA. LTDA.
Posted May 12, 2020
Source: Youngevity International, Inc. (YGYI)