SA Breaking News - ALYI raises $1M for funding strategic EV expansion
April 16 2021 - 11:33AM
InvestorsHub NewsWire
- Alternet Systems (OTCPK:ALYI +11.0%) secured $1M investment in Zoomcar to fund
EV ecosystem expansion; Alternet purchased Zoomcar convertible
preferred stock
at $2.50/share.
- To provide the funds for Alternet's
investment, the company issued a $1M convertible note with a $0.10
conversion price.
- Next week, the company will update
regarding a new agreement ALYI executed just last week that
substantially expands the company's overall electric vehicle
ecosystem vision and strategy.
- The agreement indicates an EV
deployment sector expansion beyond ALYI's current rideshare entry
point and also brings a geographic expansion opportunity beyond
ALYI's current East African
concentration.
Source - seekingalpha.com/ALYI
Other stocks and cyrpto on the move - DOGEUSD,
ADHC, and
BCAP
SOURCE: Khyathi Dalal, SA
News Editor
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