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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

PHI Group Enters Strategic Agreement with Natural Well Technical Ltd

May 12, 2020 GMT

* Shareholder Conference Call Scheduled for May 22, 2020

New York, May 12, 2020 (GLOBE NEWSWIRE) -- PHI Group, Inc. ( www.phiglobal.com ) (OTC Markets: PHIL), a U.S. holding company engaged in mergers and acquisitions, advisory and consulting services, Luxembourg bank funds and investments in select industries and special situations, today announced that the Company has signed a Business Cooperation Agreement with Natural Well Technical Ltd. (NWTL), a Taiwanese company, to cooperate in continued research and development as well as produce and market products in the fields of healthcare, beauty supply, agriculture and industry from breakthrough biotechnologies that have been developed and carried out by Dr. Frank Liu, Founder and Chief Technology Officer of NWTL.

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In particular, NWTL and PHIL will cooperate to primarily focus on the following activities:

a) Developing and implementing a comprehensive plan to increase the production, marketing and sale of the “Super Green” High Energy Drop Drink and “Mistyrious” Fine Mist Spray products on a large scale worldwide ( http://www.supergreenbiotech.com/ ).

b) Developing and implementing a plan to increase the production, marketing and sale of “Super Cassava” ( https://drive.google.com/file/d/1UZaQ8Ii2mcipgnu1VbxumhKCWR71zxWR/view ) and “Uni-Wash” Engine Booster products ( http://www.tw-uniwash.com/ ) as well as other products related to the fields of agriculture and energy that have been studied and developed by Dr. Frank Liu;

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c) Continuing to conduct research and accumulate clinical data for biotechnologies developed by Dr. Frank Liu in order to obtain U.S. FDA’s approval for cancer treatments and other healthcare products. In addition, both parties also develop, produce and market beauty supply products.

d) Designing a financial plan and providing the required funding for NWTL to execute its business plan.

Initially, Phivitae Healthcare, Inc., a subsidiary of PHI Group, Inc. established in July 2017, has developed a comprehensive plan to launch Super Green products on a large scale both in Asia and in the international markets. In addition, the Company will work closely with Dr. Frank Liu to continue conducting research and accumulate clinical data to obtain regulatory approvals for cancer treatments and other healthcare products, especially those that have been highly efficacious in trials for treatment and prevention of coronavirus and liver diseases.

According to Dr. Frank Liu, successful research and development as well as a number of product applications have been done in the following areas:

-- Agriculture: concentrating on ecology balance, especially plant wounds, and high-yield cassava in Indonesia. -- Industry : the “Uniwash Engine Booster” product has been in the market since 2009. This product has proven to reduce exhaust waste air CO,HC,NO to zero. -- Beauty and skin care products: Some authorized brands have been established in Taiwan and Vietnam markets, especially in the areas of skin wounds and medical beauty supplies. -- Cancer and tumor therapy: More than 5,000 patients recorded in People’s Republic of China, Vietnam, Taiwan, U.S.A., Canada, Austria, etc. as rejected by regular medicine treatment system have been healed and got their new life again. At this point a project is being conducted with Taiwan Taipei Medical University to focus on three new topics:

a. Prove that Super Green can help cure pulmonary fibrosis and damage caused by lung liquid in Covid-19 infection confirmed patients. b. Prove that Super Green can support those patients who face chemotherapy and radiotherapy, in that Super Green can reduce the bad factors called food-of-cancer cells that are killed from normal cells IL-6,IL-1b, and TNF-. c. Prove that Super Green can greatly help in response to inflammatory reaction, which actually is the main sign of cancer cell and tumor. Dr. Frank Liu has published a research article in Arch Med Sci 2020 about “Wound test with diabetic mouse.”

Henry Fahman, Chairman and CEO of PHI Group, Inc., will host a conference call for our shareholders and the investment community at 4:30 P.M. Eastern Time, Friday May 22, 2020 to provide an update on the status of Luxembourg bank fund activation, financial reporting, stock buyback program and other important corporate developments.

You are cordially invited to a scheduled Zoom conference call for PHI Group shareholders:

Time: May 22, 2020 04:30 PM Eastern Time (US and Canada); Meeting ID: 404 934 7924

Join Zoom Meeting: https://us02web.zoom.us/j/4049347924

Dial by your location: +1 646 558 8656 US (New York); +352 2786 1188 Luxembourg; +82 2 6022 2322 Republic of Korea, +852 5808 6088 Hong Kong, China, +1 587 328 1099 Canada; Find your local number: https://us02web.zoom.us/u/kd05RkFyNB

About PHI Group

PHI Group ( www.phiglobal.com ) primarily focuses on mergers and acquisitions and invests in select industries and special situations that may substantially enhance shareholder value. In addition, the Company’s wholly owned subsidiary, PHI Capital Holdings, Inc. ( www.phicapitalholdings.com ) provides M&A consulting services and assists companies to go public and access international capital markets. The Company has also been working diligently to organize PHILUX Global Funds (in formation) with several compartments for investment in renewable energy, agriculture, real estate and multiple commodities ( www.philux.eu ). In addition, PHI Luxembourg Development SA, a Luxembourg-based wholly owned subsidiary of the Company, has been cooperating with reputable international advisers and partners to organize a diamond exchange center in Vietnam.

About Natural Well Technical Ltd. and Dr. Frank Liu

Established in 2010, Natural Well Technical Ltd. is a Taiwanese company focused on research and development of breakthrough biotechnologies aiming at providing solutions for healthcare, agriculture, energy, beauty supply and others. The company has partnered with Taiwan National Chung Hsing University, Taipei Medical University, Taiwan Tajin University and ChungChun University of Chinese Medicine in China P.R.C. to conduct clinical research for potential cancer treatments. The applications of its biotechnologies have proven to be highly efficacious in a number of industries.

Dr. Frank Liu, Chief Technology Officer of Natural Well Technical Ltd., has obtained a Ph.D. in Taiwan, and is a postdoctoral researcher at Stanford University since 2017. He has been successful in discovering plant extractions for applications in the fields of cancer and tumor therapy, beauty and skin care products, agriculture and industry.

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. +1-702-475-5430 info@phiglobal.com