PHI GROUP, INC. (OTCMKTS:PHIL) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry Into a Material Definitive Agreement.
On September 4, 2017, American Pacific Resources, Inc., a Wyoming corporation (“APR”) and wholly owned subsidiary of PHI Group, Inc. (the “Company”), entered into a Business Cooperation and Investment Agreement (the “Agreement”) with Suda Lattana Co. (“SLC”), a company organized and existing under the laws of Lao People’s Democratic Republic, to develop a 27,000-hectare (approximately 67,000 acres) gold mine project in Savannakhet Province, Laos.
According to the Agreement, APR will be responsible for financing and operating the gold mining project. The finished gold products from the project will be allocated as follows: (a) 30% directly to the Government of Laos; (b) After deductions of all expenses, the remaining 70% will be divided: 35.7% to APR and 34.3% to SLC.
The foregoing description of the Business Cooperation and Investment Agreement dated November 4, 2017 by and between American Pacific Resources, Inc. and Suda Lattana Co. is qualified in its entirety by reference to the full text of said Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
PHI GROUP INC ExhibitEX-10.1 2 ex10-1.htm Exhibit 10.1 BUSINESS COOPERATION AND INVESTMENT AGREEMENT This Business Cooperation and Investment Agreement (“Agreement”) is made as of the 4th day of November,…To view the full exhibit click here
About PHI GROUP, INC. (OTCMKTS:PHIL)
PHI Group, Inc. is engaged in mergers and acquisitions. The Company focuses on acquiring operating businesses in selective industries and invests in various ventures that may create long-term value for its shareholders. In addition, the Company also provides corporate finance services, including merger and acquisition advisory and consulting services for client companies through its subsidiary, PHI Capital Holdings, Inc. The Company’s business involves acquisitions of energy assets, as well as production and trading of energy commodities. The Company will continue to pursue its merger and acquisition program by acquiring all or controlling interests in target companies in various industries, including but not limited to conventional energy, renewables, natural resources, agribusiness, technology, transportation, education, distribution, mining, oil and gas, financial Services, healthcare and pharmaceuticals.