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$PHIL News – PHI Group Signs Term Sheet for $10 Million Funding

Tuesday, February 28, 2017 6:28
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(Before It's News) News Alert: NEW YORK, – ( target="_blank" href="/r2/?url=" target=
News Alert) – PHI
Group, Inc. (OTC: PHIL) a U.S. public company focusing on
acquisitions and investments in natural resources, other select
industries and special situations ( "" target=
), announced today that it has
signed a term sheet with Azure Capital (the “Investor”) for a $10
million equity line facility to fund working capital and potential
acquisition needs.

According to the term sheet, the Investor will commit to purchase
up to $10,000,000 of the Company’s stock over the course of 36
months, after a registration statement of the Company’s stock has
been declared effective by the U.S. Securities and Exchange
Commission (“SEC”).

The Company may in its discretion draw on the facility from time to
time as and when the Company determines appropriate in accordance
with the terms and conditions of the Investment Agreement and
Registration Rights Agreement to be signed by the Investor and the
Company. Read this and more news for PHIL at target="_blank" href="/r2/?url=" target=

Henry Fahman, Chairman and Chief Executive Officer of the Company,
stated, “The availability of this equity line enables the Company
to raise capital as needed in a highly efficient manner. The
combination of acquisition expenses, budgeting for the EB-5
Investor Visa Program, new product development, enhanced marketing
and other corporate projects warrants that setting up this facility
is prudent. There are no options or warrants associated with the
equity line. We will seek to use the equity line, to the extent
needed, at such times as are appropriate in view of the Company’s
needs, market conditions and other factors.”

After the signing of the Investment Agreement, the Company will
promptly file a registration with the SEC. The securities in
connection with this equity line facility may not be sold nor may
offers to buy be accepted prior to the time the registration
statement becomes effective.

This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be
any sale of these securities in any state or jurisdiction…


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