Dallas, Texas--(Newsfile Corp. - October 16, 2020) - Alternet Systems, Inc. (OTC Pink: ALYI) today announced the completion of a multiparty major milestone agreement anticipated to substantially move the company forward toward realizing its electric mobility ecosystem vision.

The milestone multiparty agreement with participants from three continents was completed yesterday representing a major step toward realizing the ultimate annual electric auto race event central to ALYI's electric mobility ecosystem.

The specifics on the participants and the details of the agreement remains confidential, though in conjunction with this latest advancement, a press release revealing the magnitude of the agreement and ongoing developments is in the works.

Background:

ALYI has initiated its electric mobility focus first in Sub-Saharan Africa where per capita transportation infrastructure is substantially under resourced. The prevailing low per capita transportation infrastructure is ideal for technology leapfrog opportunities.

Instead of designing specific future products in an isolated lab, ALYI has designed a process to bring a community of stakeholders together with ALYI's own design team to collectively contribute to the future of electric mobility in Sub-Saharan Africa and beyond.

To motivate and inspire collaboration in a rational electric mobility evolutionary process, ALYI has architected an annual electric mobility symposium and conference around an electric auto race as an anchor event.

For more information and to stay up to date on ALYI's latest developments, please visit .

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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