PHI Group Forms Subsidiary for Premium Organic Farming and EB-5 Investor Visa Program
PHI Group, a U.S. diversified holding company focusing on acquisitions and investments in special situations (www.phiglobal.com); (OTCMarkets:PHIL), has formed a subsidiary “Abundant Farms, Inc.,” a Florida corporation, to manage its premium organic farming plan and administer an EB-5 Investor Visa Program to stimulate the U.S. economy through job creation and capital investment by foreign investors.
The Company is in the process of acquiring a 408-acre farm in Holmes County, Florida, which is a qualified Targeted Employment Area, as defined by the EB-5 Investor Visa Program of the U.S. Citizenship and Immigration Services. The Company plans to provide opportunities for international investors to become U.S. permanent residents by investing $500,000 each directly in its farming program.
The Company recently signed an agreement with Mr. Van M. Pham, a Vietnamese agricultural expert, to secure intellectual properties for application of proprietary natural immune and symbiotic microbe systems in premium organic husbandry.
Initially, the Company plans to use a combination of proprietary enhanced bioavailable nutrient and natural symbiotic immune systems, without chemical pesticides and synthetic fertilizers, to grow select medicinal plants for export. It also plans to raise premium organic poultry and other livestock for domestic sale and to develop model-farming programs to grow broader agricultural products without antibiotics and chemicals. Once the business model has been verified, the company plans to replicate and license the farm model to others in the U.S. and abroad.
Henry Fahman, Chairman and CEO of PHI Group, stated, “We are confident of the multiple merits and tremendous potential of our premium organic farming program, coupled with the EB-5 Investor Visa Program, because it can create substantial employment opportunities for the local community in Holmes County, provide a legal pathway for qualified international investors to become permanent residents and ultimately citizens of the United States, supply healthful crops and livestock that humans can consume and potentially enhance the economic value for our shareholders and all other stakeholders.”
About PHI Group
Founded in 1982, PHI Group primarily focuses on acquisitions as a principal and invests in special situations in large, growing markets that may substantially enhance shareholder value.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
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