Alternet Systems Announces LOI to Acquire Lithium Exploration Group SonCav Asset in Deal to Include Dividend Distributions To...
January 17 2018 - 10:13AM
InvestorsHub NewsWire
Alternet Systems Announces LOI to Acquire
Lithium Exploration Group SonCav Asset in Deal to Include Dividend
Distributions To Shareholders of Both
Companies
Dallas, TX -- January 17, 2018 --
InvestorsHub NewsWire -- 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.
Alternet Systems, Inc.
Contact:
Randell Torno
info@lithiumip.com
1 800 713 0297
https://www.otc-alyi.com/contact/
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