ALYI Confirms African Electric Vehicle $100 Million Financing Update
January 29 2020 - 12:32PM
InvestorsHub NewsWire
ALYI Confirms African Electric
Vehicle $100 Million Financing Update
Dallas, TX
-- January 29, 2020 -- InvestorsHub NewsWire -- Alternet
Systems, Inc. (USOTC:
ALYI) today confirmed company plans to release on Monday,
February 2nd, 2020 a summary of the meetings in Malta
this week with local legal representatives, crypto strategy experts
and African electric vehicle partners to coordinate the launch of
new business entity domiciled in Malta. The new Malta
business is the target organization intended to launch a $100
million initial coin offering (ICO) to fund infrastructure for
electric vehicle production in
Africa.
ALYI African Crypto
Strategy Highlights
The firm, IW
Global (www.IW-Global.com)
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 has partnered with IW Global and ALYI’s
production and marketing partners in Kenya to 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
existing $300 million in electric vehicle projects. Malta has
been selected as the domicile for the
NewCo. Malta is
credited as the first country to create Cryptocurrency
regulations.
ALYI Institutional
Commitment
ALYI recently
announced securing institutional commitment to support an annual
African electric mobility technology conference and symposium to
advance the deployment of electric powered transportation solutions
specific to Africa. The focus includes environmental sustainability
but also overall transportation efficiency applicable to the
African transportation infrastructure, economy, and consumer. ALYI
CEO, Dr. Randell Torno, contends that the immediate opportunity for
electric powered transportation growth in Africa by far exceeds the
electric powered transportation opportunity anywhere else in the
world and that the electric mobility technology innovations that
will be developed for Africa will ultimately form the foundation of
commercial electric powered transportation everywhere. In short,
Africa is the global proving ground for electric powered
transportation. In December, Dr. Torno concluded meetings in London
where he secured institutional brand name commitment that will
serve as the anchor event and attraction at the annual African
electric mobility technology conference and symposium. The planed
conference and symposium location is Nairobi,
Kenya.
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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