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.