ALYI $300 Million African Electric Vehicle Initiative Surges Forward

Dallas, Texas--(Newsfile Corp. - July 10, 2020) - Alternet Systems, Inc. (OTC Pink: ALYI), today highlighted an influx of Japanese venture capital into Africa further improving upon ALYI's access to investment to fund the company's electric innovation in Africa.

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Japanese Venture Capital Into Africa

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ALYI recently announced a letter of intent for a $25 million investment that included a $2.5 million advance to fund a design and engineering phase of a development to construct facilities in Kenya 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 annual event is one component of the company's overall $300 million initiative centered on initially launching electric motorcycles for the ride-share market in Africa. ALYI has produced a pilot vehicle and expects production to start in Africa by year end.

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.

Alternet Systems, Inc. Contact:
Randell Torno

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