SOURCE: Alternet Systems, Inc.

Alternet Systems, Inc.

February 25, 2014 10:44 ET

Alternet Systems Announces Shareholder Approval of $5.5 Million Asset Sale of Utiba Americas

MIAMI, FL--(Marketwired - Feb 25, 2014) - Alternet Systems, Inc. (OTCQB: ALYI) ("Alternet" or the "Company"), an accelerator of high growth opportunities in Digital Currency and Mobile Commerce services, today announced shareholder approval of an asset sale of its mobile financial services subsidiary. Pursuant to the Notice of Special Meeting of Shareholders and Definitive Proxy Statement dated January 21, 2014, the Special Meeting of Shareholders was held on February 21, 2014 whereby the shareholders approved the proposed transaction of the mobile payments business and assets of the Company's 51% owned subsidiary. It was sold to Utiba Pte, Ltd. for the aggregate consideration to be paid in the amount up to $5,500,000. 

Mr. Henryk Dabrowski, CEO of Alternet Systems, commented, "Alternet has taken our first meaningful step in reinventing our business in the new age area of Digital Currency and Mobile Commerce. We expect to grow by being a major player in providing new services and products for these businesses along with key sectors such as Mobile and Digital Security. This transaction provides our company with capital to immediately launch our new strategy. We look forward to announcing our first strategic initiative in digital currency this week. Management and the Board are pleased with our new vision for high growth and look forward to sharing our strategic plan with all shareholders in the coming weeks of how we will be enhancing our value."

About Alternet Systems Inc.
Alternet Systems Inc. (OTCQB: ALYI), headquartered in Miami, Florida, is an enterprise accelerator company focused on the complimentary, high-growth markets of Digital Currency, Mobile and Internet Commerce and Cyber-Security products and services. Through its subsidiaries, Alternet captures and converts extraordinary growth opportunities surrounding the explosion of newly adapted Internet technologies and platforms. More information about Alternet and its subsidiaries can be found atwww.alternetsystems.com and by following the company on Twitter www.twitter.com/alternetsystems.

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Contact Information

  • Contact:
    Investor Relations Contact at Alternet:
    Email Contact
    1-888-823-8494

    Or

    Alliance Advisors, LLC
    Alan Sheinwald
    Email Contact
    (914) 669-0222