New York, NY, Jan. 26, 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 recorded $432,000 in revenues from the first shipment of American Pacific Resources, Inc.’s (www.aprgold.com) gold concentrates for the quarter ended December 31, 2017 and expects to recognize more than $6 million from additional shipments for FY 2017 ending June 30, 2018. The Company also expects to exceed conservative estimates of $53 million in revenues for FY 2018 and $107 million for FY 2019 from APR gold processing using proprietary Hymax technology.
With respect to the cannabis industry, since the Company’s announcement regarding PHI EZ Water’s products (www.phiezwater.com) on October 17, 2017, the Company has actively worked with cannabis growers in the U.S. and Canada, including GrowersNetwork (http://growersnetwork.org/), to provide our proprietary water enhancement systems that may reduce water consumption by up to 30% and fertilizer usage by 30%-50% while boosting cannabis crop yields by 30%-50%. PHI EZ Water’s conservative projected revenues from sales of water enhancement systems are $12,500,000 for FY 2018 and $25,000,000 for FY 2019. The Company will also use the water enhancement systems to grow medical marijuana and medicinal plants for its greenhouse project in Transylvania, Romania, which is expected to add significant revenues and profitability.
In addition, the Company has been working on a number of crucial projects in the recent months which can potentially transform the company in extraordinary ways in the very near future, including institutional bank funds, cross-border acquisitions, and burgeoning hot industries such as blockchain and crytocurrencies, etc. The Company will update on further progress regarding these subject matters in the coming weeks, including financial plans and conceivably substantial impact on future operating results.
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)
This news 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 "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" 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 as a result of various factors.
Contact: Henry Fahman PHI Group, Inc. email@example.com
Source: PHI Group, Inc.