 New York, Sept. 17, 2021 GLOBE NEWSWIRE -- PHI Group, Inc. , 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, is pleased to announce that it has signed a Memorandum of Understanding MOU to acquire seventy percent 70 ownership in Five Grain Treasure Spirits Co., Ltd., Five-Grain a company with over one hundred years of tradition in Jilin Province, China. This is a unique, special situation transaction that is expected to create substantial value for the Company, its shareholders and all stakeholders. 