New York, Jan. 17, 2025 (GLOBE NEWSWIRE) -- PHI Group, Inc. (n/k/a Philux Global Group Inc., www.philuxglobal.com, PHIL), is pleased to announce that the Company is taking strong steps to expedite the closing of the two largest financing transactions consisting of the US$3-billion Joint Venture/Partnership Agreement and the US$ 5-billion Private Investor Contract Partnership Agreement as filed in Form 8-K’s with the Securities and Exchange Commission on August 22, 2022 and January 16, 2025, respectively.
Though we have experienced long delays with the smaller financing packages due to various reasons which are currently being addressed for immediate resolutions, the Company is putting forth our best efforts with strong steps to close these two largest financing transactions in the coming weeks.
The Company intends to immediately use the funds from these largest financing agreements primarily for investment in select projects within key sectors and special investment opportunities in Vietnam and USA, especially and most urgently the Asian Diamond Exchange (ADE) and the International Financial Center (IFC) projects in Vietnam and the geomagnetic energy technology by Philux Global Energy, Inc. (www.philuxge.com, US Patent and Trademark Office Provisional Patent Application No. 63/655846).
The Asian Diamond Exchange will consist of the rough and lab-grown diamond trading center in Vietnam. It will be a modern bourse to be organized in affiliation with the World Federation of Diamond Bourses (WFDB) that is fully compliant with the Kimberley attestation process. A key component for establishing this trade will be the establishment of Diamond Buildings, where all diamond activities will be grouped within a Free Trade Zone to be established in Ho Chi Minh City, Southern Vietnam. These Diamond Buildings will be established following the quintessence of the Israel Diamond Exchange (IDE), the Bharat Diamond Bourse (BDB), the Antwerp Diamond Exchange and the Dubai Diamond Exchange. They will provide a secure and closed environment that houses everything a diamond trader needs under one roof, the first-ever combined rough and lab-grown diamond exchanges in the Asian hemisphere. The Asian Diamond Exchange will be established in conjunction with the International Financial Center following the model of Dubai, UAE and the success stories of other prominent international financial centers.
Regarding the geomagnetic energy technology, Philux Global Energy’s core technologies will include Schumann magnetic resonance, utilizing energy from lightning in the ionosphere, storage in the natural atmosphere as Energy Storage Systems (ESS), acceleration of Muon particles (subatomic particles) in the module, taking advantage of wave nodes and wave troughs in the process of transmitting energy in the form of multi-frequency impulses.
The distinctive advantages of this “Multi-Impulse Energy System” include: 1) not depending on weather conditions, 2) does not require much land and/or water surface, 3) no need for large space, easy to transport, 4) electromagnetic compatibility with living organisms and humans, no harm effects to the health of humans, livestock, pets, or vegetation, 5) no waste or greenhouse gas emissions, 6) no heat generation, 7) no noise generation, 8) easy know-how protection with quantum encryptions, 9) easy to set up virtual power plants by using proprietary modules to coordinate output synchronously, 10) easy to establish wireless power transmission systems with huge capacity without heat loss at close range, suitable setup for two-way recharging for electric cars.
Philux Global Energy plans to provide these "pure energy" solutions to support the energy transition in sectors ranging from electric vehicles to aerospace, aiming to cut dependency on traditional fuel sources while contributing to climate action goals. Our approach leverages proprietary technology to provide scalable energy options that remain unaffected by weather and environmental limitations, promising a low-impact energy source suitable for various industrial and other needs.
About PHI Group
(n/k/a Philux Global Group, Inc.)
PHI Group (n/k/a Philux Global Group Inc., www.philuxglobal.com, PHIL) primarily focuses on developing the Asian Diamond Exchange (“ADE”) in conjunction with the new International Financial Center to be established in Ho Chi Minh City, Vietnam and the “Multi-Impulse Energy System” to provide superior solutions to improve energy efficiency, reduce greenhouse gas emissions and fight climate change. The Company also advances its Philux Global Funds SCA, SICAV-RAIF, engages in mergers and acquisitions and invests in attractive businesses and select special situations with large, growing market potential that may generate extraordinary long-term shareholder value.
Safe Harbor Act and Forward-looking Statements
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:
Philux Global Group Inc., (f/k/a PHI Group, Inc.)
Email: info@philuxglobal.com
Phone: +1-714-642-0571
