NEW YORK, Dec. 15, 2016 (GLOBE NEWSWIRE) -- PHI Group, a U.S. diversified holding company engaged in mergers and acquisitions (www.phiglobal.com);(OTC Markets:PHIL), has signed a Letter of Intent to acquire a 410-acre farm in Holmes County, Florida, U.S.A. in a bid to set up a model organic farm and to launch specialty farming programs capable of generating over $100 million combined revenues in the next two years.
The Company will use a combination of proprietary enhanced bioavailable nutrient and natural symbiotic immune systems, without chemical pesticides and synthetic fertilizers, to focus first on growing select medicinal plants such as turmeric (curcuma longa), Ming aralia (polyscias fruticosa), bitter melon (momordica charantia), xao tam phan (paramignya trimera), drumstick tree (moringa oleifera) and other species which command much higher profit margins than regular vegetables, aiming to meet the growing demand of several big international customers, especially China, in the coming years.
The Company also plans to raise premium organic poultry and other livestock to generate imminent cash flows and at the same time develop a model farming program to grow broader agricultural products without antibiotics and chemicals. This model farm can then be replicated and licensed to other farmers on a global basis.
We have an option to use financing from several institutional sources to fund the acquisition and working capital for this program.
In addition, since Holmes County is a qualified Targeted Employment Area, as defined by the EB-5 Investor Visa Program of U.S. Citizenship and Immigration Services, we will be able to provide opportunities for international investors to become U.S. permanent residents by investing $500,000 each directly in our farming program https://www.uscis.gov/eb-5.
Henry Fahman, CEO of PHI Group, said, “While the world is struggling to feed and provide healthcare to 7.2 billion people and about 475 million acres of farm soil worldwide have lost the mineral nutrients necessary to grow crops, we are excited to work on this organic husbandry program as our proprietary technologies can greatly improve the health of crops and livestock that humans consume, thereby dramatically improving human health by reducing illness, cancer and premature death.”
“As global food retail sales surpass $4 trillion annually, we believe these premium organic farming programs have the potential to not only generate significant revenues and profitability but also revolutionize part of the global farming industry in the near future,” Fahman added.
About PHI Group
PHI Group, Inc., established in 1982, is primarily engaged in mergers and acquisitions as a principal. The Company is seeking to acquire operating companies in select industries and invest in special situations in big, growing markets that may substantially enhance shareholder value.
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.
Contact: Henry Fahman +1-702-475-5430 firstname.lastname@example.org
Source: PHI Group, Inc.