ALYI - Alternet Announces Engineering Engagement to Build 100 Acer Facility

DALLAS, Texas, July 8, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today announced initiating a design and engineering engagement leading to the development of facilities covering approximately 100 acers 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
[email protected]
+1-800-713-0297

SOURCE Alternet Systems, Inc.