via Seeking Alpha -- June 25, 2020 1:57 PM ET -- About: Alternet Systems, Inc. (ALYI) | By: Khyathi Dalal, SA News Editor


Alternet Systems (OTCPK:ALYI +70.7%) plans to finalize terms and execute a letter of intent on June 30, 2020 for a $25M first tranche investment, based on valuation of ~$0.05 per share, to fund its $300M electric mobility initiative in Africa.

As per the terms, ~$50M pre-money valuation of ALYI would be given in consideration of the initiative which will lead to the investor becoming the controlling shareholder. Management change is not a part of the investment.

A second tranche at valuation is planned before the end of 2020. The planned ALYI investment is one component of an overall $100M initial cryptocurrency offering strategy.

Initially, Alternet would launch the commercial production of its own ReVolt Electric Motorcycle in Africa.

See original publication: https://seekingalpha.com/news/3586264-alternet-to-finalize-investment-terms-for-electric-mobility-initiative
 

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