Lithium Exploration Group's Lenders Agree to a Moratorium on
Conversions
Phoeinx, AZ - January 5, 2015 - InvestorsHub NewsWire
- Lithium Exploration Group Inc. (OTCPINK:
LEXG) announced today that its four remaining debt holders from
the Tero acquisition have agreed not to convert any of their
remaining notes for the month of January 2015. This agreement has
been put in place with the debt holders to relieve pressure on the
company while the additional acquisition of Tero is completed and
the oil treatment unit is deployed at Tero.
"Our debt holders are extremely supportive of what we are doing
as a company; together we are working to restructure the balance
sheet to show our shareholders our commitment to protecting their
interests and moving the company in a positive direction,”
commented CEO Alex Walsh. “We continue to make positive
progress and this gesture shows the commitment that our debt
holders have to LEXG. We have also discussed extending the
moratorium for the remainder of the first quarter, but for now it
stands for the month of January.”
About Lithium Exploration Group
Lithium Exploration Group is a US-based exploration and
development company focused on the acquisition and development
potential of lithium brines and other precious metals that
demonstrate high probability for near-term production. Currently
the company is focused on its Western Canada lithium assets,
testing its Ultrasonic Generator Technology and the acquisition of
oil and gas related assets in Western Canada. Lithium Exploration
Group is a fully reporting company traded on the OTC Markets under
the symbol LEXG. Website: www.lithiumexplorationgroup.com.
Safe Harbor Statement
This news release contains "forward-looking statements".
Statements in this press release that are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future
testing of the ultrasonic technology.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of lithium
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our most recent annual report
for our last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
Contact Info
Shanon Chilson
480-641-4790
info@lithiumexplorationgroup.com