ALYI - Alternet Announces Engineering Engagement To Build 100 Acre Facility
July 08 2020 - 1:33PM
InvestorsHub NewsWire
Dallas, TX -- July 8, 2020 -- InvestorsHub
NewsWire -- Alternet Systems, Inc. (USOTC:
ALYI) today announced initiating a design and engineering
engagement leading to the development of facilities covering
approximately 100 acres that will be required to host the intended
anchor event at the company’s annual electric mobility conference
and symposium. Yesterday, the company confirmed a $2.5
million prefunding deal in conjunction with a recently announced
$25 million first tranche investment at a $50 million enterprise
valuation. The full $25 million investment is anticipated to
close within the next 90 days.
The electric mobility conference and
symposium is one component of ALYI’s overall $300 million
initiative to introduce electric motorcycles to the ride-share
market in Africa.
Motorcycles are already widely utilized in
the African taxi market and Uber has recently identified
motorcycles as growth sector within the ride-share
market.
ALYI has already designed and piloted a
rugged electric motorcycle with side car for the African ride-share
market and expects to be in production by year
end.
The annual electric mobility conference
and symposium is designed to both support the overall electric
mobility industry in Africa as well as directly facilitating ALYI’s
overall growth and expansion into new electric mobility sectors. At
the same time, ALYI’s electric mobility conference and symposium
will generate revenue and contribute to
earnings.
ALYI $25 Million
First Tranche Investment
The ALYI first tranche $25 million
investment is one component of the investor’s overall $100 million
initial cryptocurrency offering (ICO) strategy. The investor
is independently launching an ICO dedicated to funding ALYI’s
overall $300 million electric mobility project in Africa with
future plans to fund additional electric mobility initiatives in
Africa. The investor has already
partitioned on the Ethereum Blockchain in advance of the planned
ICO.
The $25
million first tranche investment is structured at a $50 million
pre-money valuation of ALYI in consideration of the company’s $300
million electric mobility initiative.
The $25 million first tranche
investment represents a valuation of ALYI common stock at
approximately $0.05 per share.
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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