DALLAS, January 17, 2018 /PRNewswire/ --
Alternet Systems, Inc. (USOTC: ALYI) and Lithium Exploration
Group, Inc. (USOTC: LEXGD) today announced entering into a letter
of intent (LOI) agreement whereby Alternet Systems will acquire the
Sonic Cavitation (SonCav) technology assets to include existing
SonCav contracts. The preliminary deal structure has Alternet
forming a new subsidiary dedicated to serving the lithium mining
industry and having the new subsidiary acquire the Lithium
Exploration Group SonCav assets. To facilitate a dedicated capital
campaign to finance the new subsidiary, Alternet plans to spin the
subsidiary off as an independent publicly traded company issuing
stock in the spinoff to shareholders of both Alternet Systems and
Lithium Exploration Group.
In July of last year, Alternet acquired an exclusive license
agreement with Air Products and Chemicals, Inc. (NYSE:
APD) for ten U.S. Patented lithium battery technologies with
an option to acquire the ten U.S. Patents. The company is applying
its portfolio of patented lithium battery technologies to enhance
the value of electric powered products to include electric vehicles
and military support systems. The company is implementing a
strategy to optimize shareholder value in the application of its
lithium technologies by spinning off applications into
independently listed public companies and issuing stock in the
independently listed companies to Alternet shareholders through
dividend distributions. The deal with Lithium Exploration group
accounts for one of the two planned spinoffs and dividend
distributions recently announced by Alternet management. To learn
more about Alternet's spinoff and dividend strategy, see the
company's online presentation:
Alternet Spinoff And Dividend Strategy To
Unlock Shareholder Value
Learn more about Alternet Systmes: www.otc-alyi.com
or www.lithiumip.com
Learn more about Lithium Exploration Group:
www.lithumexploraitongroup.com
Disclaimer/Safe Harbor: This news release contains
forward-looking statements within the meaning of the Securities
Litigation Reform Act. The statements reflect the Company's current
views with respect to future events that involve risks and
uncertainties. Among others, these risks include the expectation
that any of the companies mentioned herein will achieve significant
sales, the failure to meet schedule or performance requirements of
the companies' contracts, the companies' liquidity position, the
companies' ability to obtain new contracts, the emergence of
competitors with greater financial resources and the impact of
competitive pricing. In the light of these uncertainties, the
forward-looking events referred to in this release might not
occur.
Contact:
Alternet Systems, Inc.
Randell Torno
info@lithiumip.com
+1-800-713-0297
https://www.otc-alyi.com/contact/
SOURCE Alternet Systems, Inc.