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DALLAS, June 11, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today announced that the recent interest expressed by UBER in the African electric motorcycle market has spurred new investment interest in ALYI's ongoing $300 million electric mobility project in Africa centered on the commercial manufacturing launch of ALYI's ReVolt Electric Motorcycle.
ALYI has an overall 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. 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 is well on track with its funding partner for the African electric mobility project. A cryptocurrency has already been partitioned on the Ethereum Blockchain. A pre ICO funding round is ready to launch and ICO details are being finalized.
The Uber news (above) about their developments in Africa came out yesterday. ALYI management was subsequently contacted in regard to the news by investors that have already expressed interest in potentially underwriting the planned ICO. As a result, ALYI management will be presenting a detailed update to the investors next Wednesday, June 17th, aimed at accelerating and increasing the pre ICO funding round in order to likewise accelerate the manufacturing launch of the 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.
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SOURCE Alternet Systems, Inc.