PHI Group Inc (PHIL)

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PHI Group Forms Joint Venture with Nanotechnology Company to Process Agricultural Products for Healthcare and Beauty

http://finance.yahoo.com/news/phi-group-forms-joint-venture-142500041.html?soc_src=social-sh&soc_trk=fb

NEW YORK, Jan. 11, 2017 (GLOBE NEWSWIRE) -- PHI Group, a U.S. public company focusing on acquisitions and investments in special situations (http://www.phiglobal.com), (PHIL), has signed an agreement with Nhat Hai New Technology JSC, a Vietnam-based company specializing in applied research and nanotechnologies (http://www.nanotechnology.com.vn), to form a joint venture company in the United States to apply the latter’s nanotechnologies for the production of various nano products.

The joint venture company plans to produce and market a number of nano products such as food supplements, pharmaceuticals, cosmetics, animal health treatments, paints and environmentally-related goods. Initially, PHI Group will use Nhat Hai’s nanotechnologies to focus on processing medicinal plants, fruits and vegetables for Abundant Farms including turmeric (curcuma longa), bitter melon (momordica charantia), xao tam phan (paramignya trimera), and sacha inchi (plukenetia volubilis) – all used in food, healthcare and beauty applications.

PHI Group’s management believes that by using proprietary enhanced bioavailable nutrient and natural symbiotic immune systems to grow organic medicinal plants and vegetables and applying nanotechnologies for processing, the Company will be able to produce premium organic and natural products with the potential to improve human health by reducing illness, cancer and premature death.

The Company has set up a subsidiary, “Abundant Farms, Inc.,” a Florida corporation, to acquire a 408-acre farm in Holmes County, Florida, which is a qualified Targeted Employment Area, as defined by the EB-5 Investor Visa Program of the U.S. Citizenship and Immigration Services. The Company plans to provide opportunities for international investors to become U.S. permanent residents by investing $500,000 each in Abundant Farms’ superior organic and natural farming program. (https://www.uscis.gov/eb-5). PHI Group is currently investigating additional farming properties near Holmes County as potential additional acquisitions.

Luu Minh Hai, Chairman of Nhat Hai New Technology JSC, said, “We look forward to working with PHI Group to fully deploy our nano technologies for broader applications and continuing to develop new ones in the pipeline. We are confident our combined strengths will create significant long-term value for all shareholders and stakeholders of both companies.”

Henry Fahman, Chairman and CEO of PHI Group, concurred, “We are delighted to partner with Mr. Luu Minh Hai and Nhat Hai’s highly creative and innovative team to apply their portfolio of nano technologies to our Abundant Farms’ organic farming program. We expect to broaden the scope of application to include other products that can generate substantial value for both companies in the future.”