GSWP Breaks Off Acquisition Negotiations with PHI Group, Inc.

Minden, CA, May 02, 2013 --(PR.com)-- Effective immediately, Global Sun Wind & Power Corp, a unique hybrid remote area power supply company based in Nevada has severed all business ties with PHI Group, Inc. (trading symbol PHIL). Acquisition talks broke down over the weekend and all parties have been notified of the cessation of negotiations.

Global Sun Wind & Power Corp is turning its attention to strategic joint venture partners to continue with its East African expansion program where it plans to install its remote area renewable energy systems in 2,000 villages bringing directly distributed, grid-quality electricity to thousands of people who heretofore have not been served by a national electricity system.

Chairman of the Board, Robert M. Terry, has expressed regret that the year-long acquisition plans have ended but says, “We here at Global know our products are desperately needed by millions of underserved people all over the developing world. We look forward to finding the right partners to scale this business to the point where governments are confident that GSWP is the solution to meeting their millennium development goals and solving their rural electrification problems.”

Interested parties should contact Global Sun Wind & Power Corp at 775-781-9447 or visit our website at www.globalswp.com.