Thursday, May 19 2022

* Immediate focus on sorghum cultivation for Empire Spirits and Five-Grain Treasure Spirits

New York, 10 Feb. Feb. 20, 2022 (GLOBE NEWSWIRE) — PHI Group, Inc. ( www.phiglobal.com, PHIL ), a diversified holding company currently engaged in PHILUX Global Funds (a group of Luxembourg banking funds), the Asia Diamond Exchange project (“ ADE”) in Vietnam, Mergers and Acquisitions and Investment in Special Situations ( www.co2-1-0.io ), is pleased to announce that today HHT Global Co. Ltd., a Vietnamese liability company Limited, has signed an agreement with PHI Group to join the PHILUX Global Agriculture Subfund.

Under the agreement, HHT Global will contribute a mutually agreed amount of capital for the establishment and initial operating budget of the sub-fund and will own 49% of the general partners’ share of this fund.

The main focus of this fund will be agriculture in Vietnam. HHT Global and Empire Spirits, Inc., a subsidiary of PHI Group, Inc., will immediately cooperate to grow sorghum for Empire Spirits, Inc. and Five-Grain Treasure Spirits, a baiju distillery company with over a hundred years of tradition. in Jilin Province, China.

Baijiu is a white spirit distilled from sorghum. It is similar to vodka but with a fragrant aroma and taste. It is currently the most consumed spirit in the world. Mainly consumed in China, it is gaining popularity in the rest of the world.

Five-Grain specializes in the production and sale of spirits and in the development of proprietary processes for the production of spirits. It also has patented technology to grow red sorghum for making baiju. Patented grain produces superior yield and quality. Five-Grain is a reputable bulk alcohol supplier to some of the largest spirits companies in the world.

According to the Five-Grain/Empire Spirits development plan, these companies will follow a three-pronged growth strategy: (1) grow sorghum using its proprietary seed and technology, (2) ferment and process sorghum to produce bulk spirits and supply other beverage companies and (3) develop its own brand using proprietary manufacturing methods and preferred distribution channels. By achieving these goals, Empire Spirits would be able to generate an average of $3.5 billion in revenue and $1.6 billion in net profit per year from operations in the first two years.

Kweichow Moutai, the largest alcohol company in the world, recently passed the $500 billion mark. With a single Baijiu product, it enjoys a year-over-year price-to-earnings ratio of around 50 times. Empire Spirits plans to introduce its own brand to the market in the very near future.

Ms. Nguyen Thi Hong, President of HHT Global Co., said, “We are very happy to cooperate with PHI Group to meet the growing needs of the agricultural industry in Vietnam and especially to seize this opportunity to grow and supply sorghum. at Empire. Spirits and five grains.

Henry Fahman, President and CEO of PHI Group, said, “We are delighted to be collaborating with Ms. Hong and HHT Global on this program and believe that by capitalizing on our combined experience and networks, we are well placed to meet the needs of the agricultural industry. in Vietnam and create significant benefits for both companies, our shareholders and all other stakeholders involved.

About PHI Group, Inc.

The PHI Group (www.phiglobal.com, PHIL) is primarily focused on advancing PHILUX Global Funds, a group of Luxembourg banking funds organized as a “Reserved Alternative Investment Fund” (“RAIF”) and building the ‘Asia Diamond Exchange (“ADE”) in Vietnam. The Company also engages in mergers and acquisitions and invests in select industries and special situations (www.co2-1-0.io) that can significantly increase shareholder value.

Safe Harbor Act and forward-looking statements

This press release contains “forward-looking statements” pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results or strategies and are generally preceded by words such as that “may”, “future”, “plans” or “expected”, “shall” or “should”, “expected”, “anticipates”, “draft”, “possibly” or “projected”, which are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements due to a variety of factors.

Contact:

PHI Group, Inc. Tel. : +1-714-793-9227 Email: [email protected]

Copyright 2022 GlobeNewswire, Inc.

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