NEW YORK and SINGAPORE, June 10, 2015 (GLOBE NEWSWIRE) -- PHI Capital Holdings, Inc., a wholly owned subsidiary of PHI Group, Inc. (www.phiglobal.com) (Trading Symbol:PHIL) (OTCMarkets:PHIL), announced today that it has signed an agreement to assist Sports Pouch Beverage Co., Inc. (OTCMarkets:SPBV) in the latter's recapitalization plan and growth strategy.
PHI Capital Holdings will provide the necessary resources to enable SPBV to resume its normal trading status on the U.S. stock market and become a fully reporting company with the Securities and Exchange Commission. PHI Capital will also assist SPBV with respect to corporate governance, financial reporting, corporate finance, and recapitalization to reposition the company for growth and expansion, including launching new manufacturing facilities in the U.S. and pursuing an international M&A strategy.
Henry Fahman, Chairman and CEO of PHI Group, Inc., stated: "We are delighted to help SPBV to unlock its potential by capitalizing on the experience, technical knowhow, and market relationships that its management has accrued over the years, coupled with a new M&A strategy to create disruptive growth."
Gilbert Arvizu, Chairman and CEO Sports Pouch, stated: "We are pleased to engage PHI Capital Holdings to assist us in repositioning SPBV to fully develop our potential and create noteworthy value for SPBV's shareholders in the near future."
About Sports Pouch Beverage Co.
Established in 2004, Sports Pouch Beverage Co. is devoted to the sales, marketing and development of a new manufacturing technology that produces a new beverage container manufactured in a user-friendly packaging that is less costly, requires less storage space and eliminates the need for empty cases of plastic or glass bottles waiting to be filled. Using a new patented pull-push spout technology and flexible film packaging technology, Sports Pouch seeks to become one of the leaders in flexible pouch beverage packaging in the United States and to expand into international markets. Website: (www.sportspouchinc.com).
About PHI Capital Holdings and PHI Group, Inc.
PHI Capital Holdings (www.phicapitalholdings.com), a wholly owned subsidiary of PHI Group, Inc., is engaged in M&A advisory services, corporate finance, project financing and corporate turnaround.
Targeting both conventional and renewable energy, PHI Group, Inc. invests in energy-related assets and other natural resources, cooperates with international partners to develop independent power plant projects, and provides renewable energy technologies in conjunction with select industry partners. In addition, the company is engaged in trading activity involving coal, oil, precious metals and other industrial commodities. Website: www.phiglobal.com