New York, NY, June 28, 2018 (GLOBE NEWSWIRE) -- PHI Group, Inc., (www.phiglobal.com) (OTCQB: PHIL), a U.S. diversified holding company focused on mergers and acquisitions and investments in natural resources, energy, agriculture and special situations, today announced that it is in the process of completing the registration of PHI Vietnam Investment and Development Co. Ltd., a Vietnamese wholly owned subsidiary of the Company, for the purpose of consulting, investment and development in Vietnam. The subsidiary’s headquarters will be at 8 Dang Dai Do Street, Tan Phong Ward, District 7, Ho Chi Minh City, Vietnam.
PHI Vietnam Investment and Development Co. will initially focus on investment and development activities in the areas of renewable energy, agriculture, real estate development, consumer goods, technologies and other selective businesses in Vietnam for PHI Group, Inc.
In addition, it will engage in consulting services and mergers and acquisitions, including assisting local Vietnamese companies with respect to going public in the U.S. and other international markets and capital raising. Previously, PHI Group was instrumental in raising capital for and taking the first Vietnamese company, Cavico Corp., to the U.S. Nasdaq Stock Market.
Among its activities in Vietnam, PHI Group has entered into agreements with Bao Lam LLC, a company registered in the Province of Dak Lak Province, and Phuong Hoang Investment and Development LLC, a company registered in Ha Tinh Province, Vietnam, to grow a total of 3,000 hectares (approximately 7,400 acres) of sacha inchi in the provinces of Dak Lak, Dak Nong and Thua Thien Hue for export to the U.S. and European markets.
Originally from the Amazon rainforest and the high Andes Mountains of Peru, sacha inchi has been part of the Inca diet for 3,000 years. The sacha inchi plant, plukenetia volubilis, a rainforest vine, with star-shaped seedpods, is currently cultivated primarily in parts of Southeast Asia and South America. Sacha inchi has been recognized for a number of health benefits such as weight loss, heart health, complete protein, bone health, and skin and hair. Medical studies have shown that sacha inchi's high concentration and proper balance of omega-3 and omega-6 fatty acids reduce the risk of heart disease. Its fats are largely monounsaturated and polyunsaturated. As a complete protein, sacha inchi contains every amino acid our body needs to function properly. Sacha inchi provides 9 grams of protein per serving. Since sacha inchi is high in omega-3 fatty acids, it can support bone structure. Omega-3 fatty acids enhance bone mineral content by helping the body absorb calcium. Eating more foods rich in omega-3s can help protect bones as people age.
PHI Group has also signed a Memorandum of Understanding (“MOU”) with Vietnam Green Agriculture Company, Ltd. (“VinaXanh”) to cooperate in the manufacture and sale of bio-organic fertilizer products developed by VinaXanh, both in Vietnam and in international markets.
VinaXanh has successfully formulated and tested proprietary bio-organic fertilizer and obtained the required governmental licenses to produce about half a dozen products using amino acids, peptides, fulvic acid, organic chelates, and other organic ingredients. VinaXanh fertilizer products have been effectively applied to numerous plants and crops in Vietnam, including black pepper, coffee, orange, lime, tangerine, grapefruit, jackfruit, dragon fruit, red pepper, tea, rice, etc. and have been granted fifteen different awards for excellence from 2015 to 2017. VinaXanh fertilizer has shown to be especially potent in combatting the deadly greening disease, which reportedly infected 80 percent of citrus trees in Florida in 2016 and made a huge dent in the state’s $10.7 billion citrus industry.
In addition, PHI Group has partnered with Vietnam-based Hung Vuong Export Import and Construction JSC to establish renewable power plants, to be built in two phases of 60-MW’s each, in Yen Binh District, Yen Bai Province, Vietnam by using AQuarius Power, Inc.’s wave energy system.
AQuarius Power (https://www.aquarius-power.com/) is a land base wave energy system that uses a combination of gravity and “buoyancy” found within the interaction between air and water to produce power that can be used to generate electricity and / or produce potable water. AQuarius is a baseload zero carbon footprint that uses no consumables and can be installed virtually anywhere on the planet that is cost effective against any fossil fuel alternatives. The system, which can be built turn-key within 6 months of obtaining permits, has an operating life of over 60 years and is clean, scalable, reliable, and extremely flexible. Its operating cost is comparably low as hydroelectric systems.
Recently, the Company has formed a joint venture company, PHI Tien Phuoc JSC, to develop and manage a very large real estate and hospitality project with gaming facilities in Thai Binh Province, Northern Vietnam.
Furthermore, during the past seven months PHI Group has been diligently working with its international partners on two major initiatives in the areas of financial services and luxury consumer goods, which are expected to have unprecedented impact on the company’s valuation once completed.
Henry Fahman, Chairman and CEO of PHI Group, stated, “As we continue to focus on several key long-term programs in Vietnam, PHI Vietnam Investment and Development Co. will play a very important role in the development, implementation and oversight of our portfolio projects here as well as contributing significant value to the parent.”
About PHI Group, Inc.
PHI Group (www.phiglobal.com) primarily focuses on mergers and acquisitions and invests in select industries and special situations that may substantially enhance shareholder value. PHI Group also provides M&A and consulting services through its wholly owned subsidiary, PHI Capital Holdings, Inc. (www.phicapitalholdings.com)
This news release contains “forward-looking statements” pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected", which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.
CONTACT: Contact: PHI Group, Inc. Henry Fahman firstname.lastname@example.org
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