New York, Jan. 11, 2018 (GLOBE 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 signed a Memorandum of Understanding (“MOU”) with Vietnam Green Agriculture Company, Ltd. (“VinaXanh”) to cooperate in the manufacture and sale of bio-organic fertilizer products developed by VinaXanh, both in Vietnam and in international markets.
VinaXanh has successfully formulated and tested proprietary bio-organic fertilizer and obtained the required governmental licenses to produce about half a dozen products using amino acids, peptides, fulvic acid, organic chelates, and other organic ingredients. VinaXanh fertilizer products have been effectively applied to numerous plants and crops in Vietnam, including black pepper, coffee, orange, lime, tangerine, grapefruit, jackfruit, dragon fruit, red pepper, tea, rice, etc. and have been granted fifteen different awards for excellence from 2015 to 2017. VinaXanh fertilizer has shown to be especially potent in combatting the deadly greening disease, which reportedly infected 80 percent of citrus trees in Florida in 2016 and made a huge dent in the state’s $10.7 billion citrus industry.
PHI Group intends to work with VinaXanh to boost the production and sale of these bio-organic fertilizer products in Vietnam and also integrate certain applicable aspects of VinaXanh’s methodologies into Abundant Farms, Inc.’s organic fertilizer program in the U.S. and Romania. In addition, the Company plans to incorporate the special water treatment system by PHI EZ Water Tech, Inc., a subsidiary of PHI Group, (www.phiezwater.com) with VinaXanh’s products to optimize plant health and crop yields for farmers in Vietnam.
On another note, Lam T. Duong, Chief Technology Officer of Abundant Farms, Inc. (also a subsidiary of PHI Group, Inc.) has successfully developed and produced bio-organic fertilizers by incorporating certain live microorganisms such as beneficial bacteria, resistant fungus, bionematicide fungi, and micronutrient-rich organic ingredients to increase plant’s abilities to resist adverse conditions for all crops to improve soil nutrients, environment, crop yields and quality of products.
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)
About Abundant Farms
Abundant Farms is engaged in organic farming activity and grows select crops and medicinal plants that potentially command superior return on investment. It also plans to produce proprietary bio-organic fertilizer and provide special water treatment systems by PHI EZ Water Tech for its own organic farming program and for sale to farmers worldwide.
Safe Harbor
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995.