Replies to post #90732 on PHI Group Inc (PHIL)

[goldstandard]

Oh man, good point. Totally forgot about that

[curtplopt]

No, theres opportunity to use it for a pretty broad range of activities based on the internet described in the filing. It’s not just the ADE.

The registrant intends to use the funds for the establishment of the Asia Diamond Exchange and the Multi-Commodities Center in Vietnam, for financing selective projects in the areas of real estate, renewable energy, healthcare, and for other investment opportunities in connection with PHILUX Global Funds SCA, SICA-RAIF,

[gemmerling]

Henry mentioned other clients which is a broad statement. Not sure if other clients means companies he is helping to bring public or for companies he is acquiring as well. We will have to wait for the signed financing document to know for sure. Go $PHL

On another note, effective October 17, 2021 the Company signed a contract agreement with Haj Finance Group, a corporation registered in Ruwi, Muscat, Sultanate of Oman, for a loan financing program in the amount of $1,500,000,000 with a preferred interest rate for thirty-five years and a three-year grace period. The closing of this transaction is expected to occur shortly after the registration of a Special Purpose Vehicle (SPV) within United Arab Emirates, the signing of the closing documents and the approval of the transfer of funds by the Central Bank of United Arab Emirates (CBUAE). We intend to use the funds to develop and construct the Asia Diamond Exchange and the Multi-Commodities Center in Vietnam, to finance selective projects in the areas of real estate, renewable energy, healthcare, and for investment opportunities in connection with our PHILUX Global Funds and other clients. A current report on Form 8-K was filed with the Securities and Exchange Commission on October 28, 2021:

https://www.nasdaq.com/press-release/phi-group-inc.-and-tpp-holdings-group-inked-mou-to-cooperate-in-luxembourg-real