ALYI Anticipates $25 Million Investment At $0.05 PPS Valuation
25 June 2020 - 1:39AM
ADVFN Crypto NewsWire
Dallas, TX -- June 24, 2020 --
InvestorsHub NewsWire -- Alternet Systems, Inc. (USOTC:
ALYI) published a management update yesterday with details on
the structure of an anticipated $25 million first tranche
investment to fund ALYI’s $300 million electric mobility initiative
in Africa. ALYI last week announced drafting a letter of
intent (LOI) with its funding partner delineating terms for an
initial $25 million first tranche investment. Management
expects to have the LOI finalized by the end of June. Management
highlights in a republishing of the update today, that the $25
million first tranche investment represents a valuation of ALYI
common stock at approximately $0.05 per share. The management
update detailing the intended terms of the first $25 million
tranche are included in their entirety
below.
First $25 Million
Tranche Anticipated Strategy And
Structure
The first $25
million tranche is a component of an overall $100 million initial
cryptocurrency offering (ICO) strategy. ALYI has partnered
with an independent firm founded specifically for launching an
initial crypto currency offering (ICO) dedicated to funding ALYI’s
overall $300 million electric mobility project in
Africa.
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. 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.
ALYI’s funding
partner for the African electric mobility project has already been
partitioned on the Ethereum Blockchain. A pre-ICO funding round is
underway and ICO details are being
finalized.
By the end of
June, ALYI and its funding partner expect to finalize an LOI for a
first tranche $25 million investment in ALYI. The working
terms include an approximate $50 million pre-money valuation of
ALYI in consideration of the company’s $300 million electric
mobility initiative. The first $25 million tranche is
intended to result in a change of control with the investor
becoming the controlling shareholder. A management change is
not part of the planned investment. A second tranche at
valuation calculated after the first $25 million investment is
planned before the end of the
year.
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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