DALLAS, Oct. 03, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alternet Systems, Inc. (USOTC: ALYI) today announced that the company has received a strategic financing proposal to fund a major expansion of the company’s electric vehicle initiative with a $100 million investment. Management indicates it is inclined to accept the proposal pending some modification of proposed deal points. ALYI is tentatively scheduling to release an overview presentation of the $100 million investment structure next week on Tuesday, October 8, 2019.
The company continues to develop $300 million in electric vehicle projects in Africa targeting the shared ride market and recently confirmed a fleet order for an initial 50 electric motorcycles to be delivered in Texas. The company successfully passed an electric motorcycle prototype testing milestone recently and anticipates having its production design pilot motorcycle completed any day. The production design plans have already been approved by partners, vendors and clients. Management plans to produce and publish a short video of the production electric motorcycles once the production version is finalized.
For more information, 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
