PHI Group
Updates on Industrial Park, Greenhouse, Medical Cannabis
and Wellness Treatment Resort
Projects in Transylvania,
Romania
Project
Revenues
Expected
to Exceed
$150 million
for FY
2019
New
York, NY -- January 30, 2018 -- InvestorsHub
NewsWire -- PHI Group,
Inc., (www.phiglobal.com) (OTCQB:
PHIL), a
company
focused on mergers and
acquisitions and
investments in natural resources,
energy, agriculture
and
special
situations, announced
today that it
has
finalized
the terms and conditions for the definitive agreement
with its
Transylvanian partner
in order
to close this joint venture
transaction
in the
next few weeks.
According to
the development plan, the Company will use a Romanian
subsidiary
to build
an industrial park, 5-MW to
50-MW
gas-fired clean
energy
fully
integrated power plant
in
stages, 30 hectares of
greenhouses, and
a
wellness
treatment resort center
in
Transylvania, Romania. Projected
revenues
for
this combined program are
expected to
exceed
$150 million
for FY
2019.
For the
greenhouses, the Company will focus on growing organic
medicinal
plants such as medical cannabis,
lingzhi mushroom (ganoderma lucidum), wild bitter melon
(momordica
charantia), saffron
(crocus
sativus),
and other precious herbs that
can be
used for medical purposes and
command much higher prices than regular crops. We
intent to incorporate our PHI EZ Water's water enhancement systems
(www.phiezwater.com)
and
Abundant
Farms' organic fertilizer for the greenhouse
operations.
The
Wellness
Resort
center
will cater to tourists
and people who seek holistic,
natural medical treatments. We
have partnered with Tho
Xuan Duong Co., a
400-year-old traditional medicine company,
(http://www.thoxuanduong.com/)
to
make natural
treatment
services available to users
at
this resort
location.
Greater
details about the wellness treatment
resort
will be provided after the closing of this transaction.
Henry Fahman,
Chairman and CEO of PHI Group, stated:" We are
privileged
and
grateful to have received
strong support and
encouragement from the
Transylvanian local and central governments.
Since
these
projects are considered green, they are eligible for non-recourse
funding from the European Union. In addition, we plan
to
finance them through
a
Luxembourg
fund
and may
also utilize additional financing
from major European
banks."
Horace
Horumba, President of PHI Group Eastern Europe,
added:"
We
are
pleased to have concluded our
due diligence and decided to move forward with the
first stage already
under process, opening a
PHI
Group's subsidiary in
Romania. We
are also
honored
to pioneer a fully integrated process from cogeneration plant,
greenhouse and production
facilities for nutritional
and
pharmaceutical
products. Hence, our plans for the Wellness Resort will compliment
and add a great value for market segmentation in the European Union
for our products & services. With
our long standing partnerships and diversified investments such as
organic fertilizer production, PHI EZ Water and Tho Xuan Duong
Co., we will be able to
integrate perfectly in a process to create value
for the
company as we serve Romania as well as a
conduit for European Union markets."
About
PHI Group
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)
Safe Harbor
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:
Henry
Fahman
PHI Group,
Inc.
henry@phiglobal.com