Connect with us
Prague Gaming & TECH Summit 2024

Blockchain

ALYI Announces Electric Vehicle ICO Acceleration Plans Moving Up $25 Million First Tranche Closing Date

Published

on

Dallas, Texas–(Newsfile Corp. – July 15, 2020) – Alternet Systems, Inc. (OTC Pink: ALYI) today announced acceleration plans to close a $25 million first tranche investment currently committed under a letter of letter of intent (LOI). The LOI was announced June 30, 2020 and at that time, the target closing date was 90 days. ALYI and the investor have now agreed on plans to close the transaction by the end of August.

The planned ALYI investment is one component of the investor’s overall $100 million initial cryptocurrency offering (ICO) strategy. The investor has already partitioned a cryptocurrency on the Ethereum Blockchain in advance of the planned ICO. In conjunction with the accelerated closing of the $25 million first tranche, the investor is also accelerating ICO plans.

The $25 million first tranche investment is structured at a $50 million pre-money valuation of ALYI. The $25 million first tranche investment represents a valuation of ALYI common stock at approximately $0.05 per share.

A second tranche at a valuation calculated after the first $25 million investment is planned before the end of the year.

ALYI’s overall $300 million comprehensive electric vehicle strategy in Africa is founded on initially launching the commercial production of the company’s own ReVolt Electric Motorcycle.

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

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.

Blockchain

Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

Published

on

alarum-announces-exciting-events-lineup-and-welcomes-esteemed-advisor-to-netnut’s-advisory-board
Continue Reading

Blockchain

RevoluGROUP Canada Inc. Announces White Label Partnership with MONECO France

Published

on

revolugroup-canada-inc.-announces-white-label-partnership-with-moneco-france
Continue Reading

Blockchain

Australian Fintech Stables Launches International Remittances Between Australia and The Philippines

Published

on

australian-fintech-stables-launches-international-remittances-between-australia-and-the-philippines

Pictured Left to Right: Erez Rachamim, Bernardo Bilotta and Daniel Li.

Continue Reading
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE