ALYI - Alternet Systems Kicks Off $100 Million Electric Vehicle Production Facility Project
November 14 2019 - 2:08PM
InvestorsHub NewsWire
ALYI – Alternet Systems Kicks Off
$100 Million Electric Vehicle Production Facility Project
Dallas, TX --
November 14, 2019 -- InvestorsHub NewsWire -- Alternet Systems,
Inc. (USOTC:
ALYI) today announced IW Global (
www.IW-Global.com
),
and ALYI’s Kenyan electric vehicle production partner will all meet
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. 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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