DALLAS, July 9, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI), an innovative electric vehicle company concentrating on the African market, has initiated the design and engineering phase of a development to construct facilities covering approximately 100 acres that will be required to host the intended anchor event at the company's annual electric mobility conference and symposium. The company recently announced a $2.5 million investment deal intended to fund this first phase of the development. The $2.5 million is an advance on a $25 million investment currently committed under a letter of intent. Next week, on Tuesday, July 14, management plans to publish more details on the 100-acre development.
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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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