PHI Group Inc (PHIL)

[silberesel]

PHI GROUP, INC. Changes Trading Symbol, Updates on Subsidiary's Mining Business
Date : every year more new lies, this is one @ 8:00AM
Source : MarketWire
Stock : PHI GROUP, INC. (PHIG)
Quote : 0.005 0.0 (0.00%) @ 2:05AM


PHI GROUP, INC. Changes Trading Symbol, Updates on Subsidiary's Mining Business


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PHI GROUP, INC., formerly Providential Holdings, Inc. (OTCBB: PHIE) (FRANKFURT: PR7) (WKN 935160), a company engaged in mergers and acquisitions, real estate development, mining, and investing in special situations, today announced its new trading symbol and recent development regarding PHI Mining Group, Inc., a majority-owned subsidiary of the Company (PINKSHEETS: PHIG).

As a result of the change of the Company's name to PHI GROUP, INC. and the par value of its common stock to $0.001 per share, as approved at the annual shareholder meeting on April 10, 2009, PHI GROUP's common stock will begin trading under the new symbol "PHIE" starting May 15, 2009. These changes will not affect the rights and privileges of the Company's shareholders in any way.

On another note, the Company's majority-owned subsidiary PHI Mining Group has recently entered into a joint venture agreement with Phnom Penh-based Paul Cham Group Co., Ltd. to engage in mining of limestone in Cambodia. According to the agreement, PHI Mining Group will own 60% of the joint venture company, which will be operating in Cambodia.

PHI GROUP's CEO Henry Fahman said, "We are excited to announce our new trading symbol and to update on the recent development with our partner Paul Cham Group in Cambodia. We will continue to report further progress on this new business opportunity, which we believe will generate extraordinary results for our shareholders in the near future."