ALYI - Alternet Systems Confirms $100 Million Electric Vehicle Production Facility Project Kick Off Underway
November 19 2019 - 10:01AM
InvestorsHub NewsWire
Dallas, TX -- November
19, 2019 -- InvestorsHub NewsWire -- Alternet Systems, Inc.
(USOTC:
ALYI) today confirmed IW Global (www.IW-Global.com), and ALYI’s Kenyan
electric vehicle production partner started meetings in Dallas,
Texas on Monday, November 18, 2019 to kick-off a joint project to
raise $100 million to fund infrastructure for the ongoing
production of electric vehicles in Africa. ALYI management
reported confidence today that the meetings will result in a
definitive plan with a highly likely prospects for ultimate
success. ALYI management tentatively plans to issue an update
on the joint project to raise $100 million to fund infrastructure
for the ongoing production of electric vehicles in Africa next week
on Tuesday, November 26, 2019.
Separately, ALYI has
already initiated and continues to develop $300 million in electric
vehicle projects in Africa targeting the shared ride market.
The project with IW Global is intended to substantially expand
ALYI’s electric vehicle initiative in
Africa.
IW Global has proposed
launching and managing an Initial Coin Offering (ICO) on ALYI’s
behalf specifically targeted at raising $100 million to fund
infrastructure for electric vehicle production in Africa. IW
Global, a well-established technology firm with a wide breadth of
experience spanning projects for NASA and more has recently
implemented multiple blockchain solutions, has proposed launching
and managing an Initial Coin Offering (ICO) on ALYI’s behalf
specifically targeted at raising $100 million to fund
infrastructure for electric vehicle production in
Africa.
ALYI and IW Global
have formulated a plan whereby, ALYI’s production and marketing
partners in Kenya will form a new company (NewCo) with the specific
focus of building a new, state of the art electric vehicle
production plant. This NewCo will be a separate company apart
from ALYI but exclusively contracted by ALYI for producing ALYI
designed vehicles. The NewCo is the business entity that
would initiate the proposed ICO. The funds would be dedicated
to 1. Building the plant and 2. Funding the production of ALYI’s
vehicles. A successful ICO would permit ALYI to substantially
accelerate and expand upon its initial $300 million in existing
electric vehicle projects.
ALYI has engaged legal
counsel to ensure the cryptocurrency launch would be executed in
compliance with prevailing regulatory
guidelines.
ALYI has engaged
Goldman Small Cap Research to conduct a survey with first time and
experienced cryptocurrency investors in conjunction with a
potential $100 million initial coin offering (ICO) that would
provide strategic financing to fund a major expansion of the
company’s electric vehicle
developments.
Ethereum is the
proposed underling platform for the ALYI cryptocurrency
launch.
The Ethereum platform
and blockchain is the most reliable existing blockchain and is
supported by the Ethereum Foundation, based in Zug, Switzerland and
the Ethereum Enterprise Alliance based in the USA with members like
Microsoft, Intel, Mastercard, UBS, BBVA, Banco Santander, among
others. IW Global is experienced with Ethereum and has
launched previous cryptocurrencies build on the Ethereum
platform.
ALYI management plans
to publish continued progress reports as the ICO strategy
develops.
For more information,
please visit: http://www.alternetsystemsinc.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
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