PHI GROUP JOINS VIETNAM-BASED CMC HOLDINGS TO DEVELOP DIGITAL ECONOMY ECOSYSTEM WITH MULTIPLE PLATFORMS TO SERVE GLOBAL USERS’ NEEDS

* CMC Holdings Successfully Raised US$1.5 million in Co-founder Round to Launch Initial Development Programs.

New York, Jan. 25, 2022 (GLOBE NEWSWIRE) -- PHI Group, Inc. (www.phiglobal.com, PHIL), a holding company currently engaged in PHILUX Global Funds (a group of Luxembourg bank funds), the Asia Diamond Exchange project (“ADE”) in Vietnam, mergers and acquisitions and investing in special situations (www.co2-1-0.io), is pleased to announce that it has joined Vietnam-based startup CMC Holdings as a founding member to collaborate in developing a digital economy ecosystem with multiple platforms to serve the growing needs of billions of global users.

Last week CMC Holdings successfully raised US$1.5 million in a co-founder round at a debut event in Hanoi, Vietnam to launch its initial development programs.

CMC Holdings’ digital ecosystem will include Hyperas Chain - a specialized platform of coding assets, Pindias - a transaction management platform of digital asset logs, Divega - an auction e-commerce platform and Rapital Bank – an “anytime, anywhere” digital banking service system.

CMC Holdings has developed a clear roadmap including 7 funding rounds: Co-founder, Angel, Series A, B, C, PE and IB and set an ambitious IPO target of at least US$50 billion by 2027 when it expects to become a publicly traded company in the United States. PHI Group, Inc., together with its subsidiary PHILUX Capital Advisors, Inc., will work closely with CMC Holdings in the process.

According to the plan, CMC Holdings will deploy these critical projects and plans to launch the coding assets, auction platforms and digital banking services within 2022 and 2023.

Mr. Tran Nam Chung, Chairman of CMC Holdings, stated: “We believe that the development of the digital economy is obvious. It has a tremendous impact on retail, e-commerce, fintech, AI, VR, AR, blockchain, etc. and we must have breakthrough ideas, a self-contained and expanded ecosystem to meet the evolving users' needs. Specifically, we have to create and apply the critical leverages: finance, branding, and technology to achieve our goals. We are very pleased to partner with PHI Group to access the U.S. capital market and long-term financing in order to implement our growth plan, achieve our development targets and become a major player in the international market.”

Mr. Henry Fahman, Chairman and CEO of PHI Group, Inc., concurred: “We are delighted to collaborate with and assist CMC Holdings in this ambitious program to generate potentially significant 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, providing consulting and advisory services to our clients and engaging in merger and acquisition activities as a principal, we also participate in unique special situations like this to create additional value for our shareholders.”

About CMC Holdings

CMC Holdings, a Vietnam-based corporation, was founded based on the global business ambition of its founders who have many years’ experience in the field of investment, restructuring and developing cross-border projects. CMC was inspired by connecting a community of competent entrepreneurs in the new economic field of the millennium, and the company attaches great importance to social values and focuses on the vital core areas of the rapidly changing world in a new digital era.

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”), 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