Founded in 1982, PHI Group, Inc. is a U.S. publicly traded company (trading symbol: PHIL) primarily engaged in both conventional energy and renewables.
The Company has recently signed a Letter of Intent to acquire a 100,000 MT/year wood pellet manufacturing company in Southeastern United States and is currently working towards entering into a defintive purchase and sale agreement, completing due diligence of the target and capitalizing the project for the closing of this transaction.
Earlier, the Company has signed an agreement to acquire a 50.90% ownership in Vietnam-based Pacifc Petro Commercial Joint Stock Company (aka Pacific Petro Trading Corporation) and has engaged Grant Thornton Vietnam Ltd. to conduct an independent valuation of Pacific Petro. The closing of this transaction is subject to the final sale and purchase price and terms of payment to be decided by both parties by June 30, 2016.
The Company is also currently working on other energy-related transactions in Southeast Asia, including carbon credit and waste-to-energy projects.
The Company expects to qualify for Nasdaq uplisting after the closing of one of these acquisitions.