PHI Group Signs Definitive Agreements for Acquisition of Majority Ownerships in Kota Companies and Acceleration of Clean Energy Initiative
* With adequate financial resources KOTA can be on a path to generate up to one billion dollars in revenue within the next twelve months
New York, Feb. 07, 2022 (GLOBE NEWSWIRE) — PHI Group, Inc. (www.phiglobal.com, PHIL), a diversified 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 the Company signed Agreements of Purchase and Sale (the “Agreements”), effective January 26, 2022, to acquire 50.10% of both Kota Energy Group LLC and Kota Construction LLC (collectively referred to as “KOTA”).
According to the Agreements, PHI Group has agreed to acquire 50.10% of Kota Energy Group LLC for $12,524,469 and 50.10% of Kota Construction LLC for $51,600,531, totaling $64,125,000, to be paid in cash. The closings of these transactions are expected to occur as soon as possible and no later than forty-five days from the effective day.
KOTA provides solutions for solar energy to residential and commercial customers, with unique competitive advantages. Separated into two separate and unique companies, KOTA Energy Group (KEG) serves as the sales engine with some of the industry’s top talent in sales. KEG, as one of the fastest growing companies in solar, sold over 10 Megawatts in 2021 bringing in over $12M in revenue. KOTA Construction (KC) is a premier installer with one of the best reputations in the industry for quality and service. KC as the EPC (Engineering, Procurement, and Construction) side of KOTA has over $50M in contracts and 14 Megawatts under management from 2021. KOTA prioritizes itself to have the best employee and customer experience possible, through its high standard of installation quality, its industry leading technology platforms, which enable increased sales volume, while maintaining fast, and transparent project timelines. Its strategic partnerships with key players in the solar industry have increased margins, while delivering top tier products to customers without sacrificing quality. KOTA’s guiding core values of “Become, Create, Give” have been the driving factor in decision making that have led it to become the most highly sought-after solar company to work with in the solar industry. Website for KOTA: https://www.kotasolar.com.
KOTA management has devised a plan to accelerate its growth and expansion and is confident that with adequate financial resources KOTA can be on a path to generate up to one billion dollars in revenue within the next twelve months.
Cole De Arman, Chief Executive Officer of KOTA, stated: “We are excited for the many opportunities ahead. An aggressive plan forward has been carefully laid out that will bring many new markets to bear for KOTA as well as increase growth in existing markets. A detailed projection for these future revenue streams will guide us into a profitable relationship with PHI Group and we look forward to working with them.”
Henry Fahman, Chairman and CEO of PHI Group, Inc., confirmed: “We delight in collaborating with KOTA’s extremely talented and dedicated management and staff to capture these unique opportunities and fast-track KOTA’s growth with certain distinctive advantages. Besides opening new markets and increasing growth in existing ones, we will be able to introduce innovative products and services that are expected to greatly benefit KOTA’s customers and further intensify its revenues and profits beyond the already carefully laid-out plan. Moreover, KOTA will also play a very important, mutually rewarding role in the CO2-1-0 (Carbon) Corp.’s carbon emission mitigation program (www.co2-1-0.io).
You are cordially invited to join a scheduled presentation by KOTA management and PHI Group:
Topic: KOTA PHI CONFERENCE CALL
Time: Feb 8, 2022 04:30 PM Eastern Time (US and Canada), 21:30 UTC
Join Zoom Meeting:
https://us06web.zoom.us/j/4177806661
Meeting ID: 417 780 6661
Passcode: kotaphil
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About PHI Group, Inc.
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 (www.co2-1-0.io) 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.
Tel: +1-714-793-9227
Email: info@phiglobal.com
KOTA Energy Group LLC
Tel: +1-855-800-5682
Email: info@kotasolar.com
