Benzinga | Apr 8, 2021 10:56AM EDT

Alternet Systems Stock Is Trading Higher On Expanding EV Presence Beyond East Africa

* Alternet Systems Inc (OTC: ALYI) executed a new agreement to sizably expand its overall electric vehicle (EV) ecosystem vision and strategy.

* The agreement represented an EV deployment sector expansion beyond ALYI's current rideshare entry point extending its geographic expansion opportunity beyond the current East African concentration.

* The multitiered deal included a new strategic investment into ALYI and could be balance sheet accretive over the next year. The company will elaborate on the agreement in its pending FY2020 annual report.

* Alternet recently confirmed launching its rideshare electric motorcycles in Africa.

* Price action: ALYI shares traded higher by 9.94% at $0.078 on the last check Thursday.