New York, July 01, 2022 (GLOBE NEWSWIRE) — PHI Group, Inc. (n/k/a Philux Global Group Inc., www.phiglobal.com, PHIL), a diversified holding company currently sponsoring PHILUX Global Funds (a group of Luxembourg bank funds), developing the Asia Diamond Exchange project (“ADE”) in Vietnam, engaging in mergers and acquisitions and investing in special situations (www.co2-1-0.io), is pleased to announce that Tin Thanh Group (TTG) (https://tinthanhgroup.vn/en/) and the Company signed a Definitive Agreement for Collaboration on June 30, 2022 to establish a new subsidiary Philux Fidelity Global Group (“PFGG”), a Wyoming corporation, as the parent company to carry out the scope of business cooperation previously covenanted.
According to the Business Cooperation Agreement signed by Tin Thanh Group and PHI Group Inc. on May 20, 2022, both companies will jointly cooperate in the following fields:
- Global business development for leasing of smart truck tires under the DRC-TTG brand by Tin Thanh Group by using digital technology.
- Development of hi-tech agro-industrial projects for closed circular energy from sorghum crops (energy – agriculture – environment).
- Development of renewable energy projects from domestic and industrial wastes (from both currently generated wastes and previous landfills that have been buried underground for many years) by using Tin Thanh Group’s exclusive proprietary technology.
- Development of global renewable energy projects from…
