 New York, Aug. 06, 2021 GLOBE NEWSWIRE -- PHI Group, Inc. , PHIL , a company currently focused on implementing PHILUX Global Funds, a group of Luxembourg bank funds organized as Reserved Alternative Investment Fund RAIF, and developing the Asia Diamond Exchange ADE in Vietnam, is pleased to announce that it has signed a Letter of Intent with Indonesia-based CYFS Group to sponsor and co-found CO2-1-0 CARBON, a new disruptive carbon mitigation initiative through environmentally sustainable projects starting in Indonesia, Vietnam, other ASEAN countries, and worldwide. According to the Letter of Intent, PHI Group will contribute a major portion of the development budget in exchange for 50.1 shares of CO2-1-0 CARBON. 