Dallas, Texas–(Newsfile Corp. – August 31, 2020) – Alternet Systems, Inc. (OTC Pink: ALYI) today highlighted its innovative fundraising approach for its innovative electric vehicle EV solution. While a herd of companies pursue traditional IPOs and SPAC mergers, ALYI stands out in the EV fundraising market with its cryptocurrency strategy.
ALYI – SPAC
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ALYI’s funding partner, RevoltTOKEN (www.revolttoken.com) will present a comprehensive update this Wednesday, September 2, 2020 on the $100 million transaction intended to fund ALYI’s electric mobility business. RevoltTOKEN has just secured the last key component necessary to proceed with the funding transaction.
RevoltTOKEN has already partitioned a cryptocurrency on the Ethereum Blockchain in advance of the planned ICO.
ALYI has entered into a comprehensive funding agreement with RevoltTOKEN that includes an existing $25 million first tranche investment commitment at $0.05 per share. ALYI has initiated a $2.5 million draw down on the first $25 million to begin construction on a 100-acre facility in Africa. Overall, RevoltTOKEN intends to invest $100 million in ALYI in conjunction with an independent initial cryptocurrency offering (ICO).
In addition to featuring the key component now in place, the presentation will include an overall update on progress toward the launch of the RevoltTOKEN initial cryptocurrency offering (ICO). Based on both individual investor and institutional investor response, the presentation will specifically include an overview on how the $100 million funding target could well be exceeded.
For more information and to stay up to date on ALYI’s 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.
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