Vietnam-based CT Farm to go public in the United States. Plans to acquire farmland and set up production facilities in the U.S.
New York, Dec. 20, 2021 (GLOBE NEWSWIRE) -- PHI Group, Inc. (www.phiglobal.com, PHIL), a company currently focused on PHILUX Global Funds and developing the Asia Diamond Exchange (“ADE”) in Vietnam, is pleased to announce that the Company has signed a consulting agreement with Vietnam-based Cat Tuong Agricultural Processing Production Co. Ltd. (http://cattuongagrico.com/en) (“CT Farm”) to assist this enterprise to become a publicly traded company and establish production facilities in the United States of America.
According to the agreement, PHI Group, Inc. will be responsible for assisting CT Farm to list on the U.S. Nasdaq Stock Market (www.nasdaq.com), acquire farmland to set up production facilities in the Southeast region of the U.S. (https://www.pinterest.com/pin/425308758551550637/) and secure up to one billion U.S. dollars’ long-term financing for CT Farm to expand and grow the company in the global marketplace.
PHI Group, Inc. will receive cash and stock from CT Farm for services rendered in connection with this agreement.
Established in 2015 in My Tho City, Tien Giang Province, Vietnam, CT Farm has invested in a state-of-the-art packing factory, a modern cold storage system and a vapor heat treatment factory for fresh fruits. The packing house has been tested by US experts to supply fresh fruits to prominent export markets such as USA, Japan, Korea, Australia, New Zealand, Taiwan, and China. The company supplies fresh fruits, concentrated juices, frozen juices and dried fruits from dragon fruit, star apple, mango, durian, longan, grapefruit, jackfruit, orange, pineapple, rambutan, and more. CT Farm has registered with the United States Patent and Trademark Office, Reg. No. 5,673,205.
Mr. Doan Van Sang, President of CT Farm, stated: “We are pleased to work with PHI Group to access the U.S. capital market and long-term financing to in order to implement our growth plan and become a major player in the international market.”
Mr. Henry Fahman, Chairman and CEO of PHI Group, Inc., concurred: “We are delighted to assist CT Farm in this special program to create value for shareholders of both companies. While continuing to fulfill our major initiatives regarding our Luxembourg bank funds, development of the Asia Diamond Exchange and blockchain-crypto technology projects, we also provide consulting and advisory services to our clients and engage in merger and acquisition activities as a principal to create additional value.”
About CT Farm
Established in 2015 in My Tho City, Tien Giang Province, Vietnam, CT Farm is a prominent Vietnamese agricultural company that supplies fresh fruits, concentrated juices, frozen juices and dried fruits from dragon fruit, star apple, mango, durian, longan, grapefruit, jackfruit, orange, pineapple, rambutan, and more. The Company has invested in a state-of-the-art packing factory, a modern cold storage system and a vapor heat treatment factory for fresh fruits. The packing house has been tested by US experts to supply fresh fruits to major export markets such as USA, Japan, Korea, Australia, New Zealand, Taiwan, and China. CT Farm has registered with the United States Patent and Trademark Office, Reg. No. 5,673,205. Website: http://cattuongagrico.com/en
About PHI Group
PHI Group (www.phiglobal.com, PHIL) primarily focuses on advancing PHILUX Global Funds, a group of Luxembourg bank funds organized as “Reserved Alternative Investment Fund” (“RAIF”) (www.philux.eu), and building the Asia Diamond Exchange (“ADE”) in Vietnam. The Company also engages in mergers and acquisitions and invests in select industries and special situations that may substantially enhance 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:
PHI Group, Inc.
Email: info@phiglobal.com
Phone: +1-714-793-2977
