Energy and natural resources company PHI Group has signed a letter of intent (LoI) to acquire Nevada Corporation’s Global Sun Wind and Power (GSWP).

PHI, as per the LoI, will acquire all of GSWP’s issued and outstanding capital interests in exchange of 30% common stock of the PHI Group.

The company will provide GSWP with working capital from implement its business plans.

GSWP key officers and staff will also receive a special compensation from PHI for a reserved percentage of future net profits from the GSWP’s projects in Eastern Africa.

The two companies will sign a definitive agreement within 30 days of signing the LoI to complete the proposed transaction.