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ALYI – Alternet Drafts LOI To Receive $25 Million First Tranche

Published

5 years ago

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Dallas, Texas–(Newsfile Corp. – June 18, 2020) – Alternet Systems, Inc. (OTC Pink: ALYI) today announced drafting a letter of intent (LOI) with its funding partner delineating terms for an initial $25 million first tranche investment to fund ALYI’s $300 million electric mobility initiative in Africa. Management expects to have the LOI finalized by the end of June.

ALYI has an overall $300 million comprehensive electric vehicle strategy in Africa founded on initially launching the commercial production of the company’s own ReVolt Electric Motorcycle. The ReVolt Electric Motorcycle pilot passed initial design requirements and ongoing pilot design refinements are expected to soon deliver a reduced overall weight and improved cruising range.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58155

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

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Global Islamic Fintech Forum Kicks off in Dubai

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12 hours ago

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April 18, 2025

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Global Islamic Fintech Forum Kicks off in Dubai

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Relm Insurance and Liva Insurance Obtain Central Bank Approval in the UAE for Web3 Insurance Solutions

Published

20 hours ago

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April 18, 2025

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Valuit: Revolutionizing Access to Private Markets in the Digital Economy

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1 day ago

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April 17, 2025

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Valuit LLC

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