* Preferred Stock Paying 12% Dividend With Sinking Fund, Convertible to Common Shares at 25% Discount and Warrant to Purchase Common Shares at 25% Discount
NEW YORK, Nov. 18, 2015, PHIL, (GLOBE NEWSWIRE) — PHI Group, Inc. (Pink Sheets:PHIL), a U.S. public company engaged in energy and natural resources, announced today that the Company has launched a new online portal, www.phigroupadvisors.com, to introduce its private placement offering under the auspices of Reg 506(c) for accredited and institutional investors.
The Company is offering 40 million investment units at the price of $1.50 per unit, each consisting of one share of Class A Preferred Stock paying 12% dividend per annum, convertible to Common Stock after one year at 25% discount to market price at the time of conversion, and a warrant to purchase one share of Common Stock also at 25% discount to market price at the time of exercise. The Company has set aside a sinking fund to ensure the dividend payments for the first year. After one year’s holding, the Class A Preferred Shares can be converted to free-trading Common Stock of the Company. This offering is only available to accredited and institutional investors. The minimum investment amount is $15,000 (10,000 units). Interested potential investors are encouraged to visit the Company’s online portal www.phigroupadvisors.com for more information.
The Company plans to use the proceeds of this offering for deployment into specific investment opportunities, such as reclamation and construction sand projects in Southeast Asia, wood pellet programs in the U.S., corporate general working capital and others. The Company also intends to upgrade its trading venue to the NASDAQ Stock Markets in conjunction with this offering program if at least ten million investment units are sold.
Henry Fahman, PHI Group’s Chairman and CEO, stated: “As we have vetted a number of very special investment opportunities and partnered with some of the best business leaders in various geographical areas, we believe the success of this offering program will help leapfrog our Company to a new level that can create unprecedented economic value for our shareholders and enable us to execute our long-term growth strategy.”
Safe Harbor: This news release and the featured interview contain 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. Such forward-looking statements are made based upon management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995.
About PHI Group, Inc.
PHI Group, Inc. (website: www.phiglobal.com), a U.S. publicly traded company established in 1982 (Trading symbol: “PHIL”), adopts a double-tracked strategy to address the needs of both conventional energy and renewables and also invests in minerals and other natural resources. The Company’s current activities include wood pellet projects in North America, reclamation and construction sand in Southeast Asia, coal asset development in Indonesia, oleochemicals in Malaysia, a LPG terminal project and titanium business opportunity in Vietnam, and a nickel project in Laos. In addition, the Company also provides M&A advisory and consulting services through its wholly owned subsidiary PHI Capital Holdings, Inc. (www.phicapitalholdings.com)
CONTACT: Henry Fahman