ALYI Pre-Money Valuation Update Scheduled Tuesday June 23
June 19 2020 - 11:48AM
ADVFN Crypto NewsWire
Dallas, TX -- June 19, 2020 --
InvestorsHub NewsWire -- Alternet Systems, Inc. (USOTC:
ALYI) today announced a management update scheduled for
next week on Tuesday, June 23, 2020. The purpose of the
update is to present details on the structure of the anticipated
$25 million first tranche investment to fund ALYI’s $300 million
electric mobility initiative in Africa. ALYI yesterday
announced drafting a letter of intent (LOI) with its funding
partner delineating terms for an initial $25 million first tranche
investment. Management expects to have the LOI finalized by
the end of June.
ALYI has an
overall $300 million comprehensive electric vehicle strategy in
Africa founded on initially launching the commercial production of
the company’s own ReVolt Electric Motorcycle. The ReVolt
Electric Motorcycle pilot passed initial design requirements and
ongoing pilot design refinements are expected to soon deliver a
reduced overall weight and improved cruising
range.
ALYI has
partnered with an independent firm founded specifically for
launching an initial crypto currency offering (ICO) dedicated to
funding ALYI’s overall $300 million electric mobility project in
Africa.
ALYI is well
on track with its funding partner for the African electric mobility
project. A cryptocurrency has already been partitioned on the
Ethereum Blockchain. In conjunction with the LOI progress announced
today, a pre ICO funding round is underway and ICO details are
being finalized.
For more
information and to stay up to date on the latest developments ,
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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