PHI Group, Inc. Announces Demise of Lawrence G. Olson, Board of Director

Philux Global Group Inc., formerly PHI Group, Inc., is engaged in mergers and acquisitions as a principal and invests in select industries and special situations that may substantially enhance shareholder value. The Company operates Philux Global Funds SCA, SICAV-RAIF, a Reserved Alternative Investment Fund (RAIF) under the laws of Luxembourg, develops the Asia Diamond Exchange in Vietnam which consists of trading exchanges of both rough and lab-grown diamonds, and provides merges an acquisitions advisory and consulting services through its wholly owned subsidiary Philux Capital Advisors, Inc. Its advisors and consulting services include merger and acquisition advisory and consulting services, corporate finance, project financing, corporate turnaround, corporate governance, and other corporate services. Philux Global Advisors, Inc. serves as the investment advisor to PHILUX Global Funds and other investment funds.