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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Alternet Systems Inc New (CE) | USOTC:ALYI | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0005 | 0.0004 | 0.0005 | 0.0006 | 0.0002 | 0.0005 | 8,845,169 | 16:34:49 |
Dallas, TX -- June 19, 2020 -- InvestorsHub NewsWire -- Alternet Systems, Inc. (USOTC: ALYI) today announced a management update scheduled for next week on Tuesday, June 23, 2020. The purpose of the update is to present details on the structure of the anticipated $25 million first tranche investment to fund ALYI’s $300 million electric mobility initiative in Africa. ALYI yesterday 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.
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.
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