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NEW YORK and SINGAPORE, June 10, 2015 (GLOBE NEWSWIRE) -- PHI Capital Holdings, Inc., a wholly owned subsidiary of PHI Group, Inc. (www.phiglobal.com) (Trading Symbol:PHIL) (OTCMarkets:PHIL), announced today that it has signed an agreement to assist Sports Pouch Beverage Co., Inc. (OTCMarkets:SPBV) in the latter's recapitalization plan and growth strategy.
PHI Capital Holdings will provide the necessary resources to enable SPBV to resume its normal trading status on the U.S. stock market and become a fully reporting company with the Securities and Exchange Commission. PHI Capital will also assist SPBV with respect to corporate governance, financial reporting, corporate finance, and recapitalization to reposition the company for growth and expansion, including launching new manufacturing facilities in the U.S. and pursuing an international M&A strategy.
Henry Fahman, Chairman and CEO of PHI Group, Inc., stated: "We are delighted to help SPBV to unlock its potential by capitalizing on the experience, technical knowhow, and market relationships that its management has accrued over the years, coupled with a new M&A strategy to create disruptive growth."
Gilbert Arvizu, Chairman and CEO Sports Pouch, stated: "We are pleased to engage PHI Capital Holdings to assist us in repositioning SPBV to fully develop our potential and create noteworthy value for SPBV's shareholders in the near future."
