Lithium Exploration Group CEO Distributes January 2015
Newsletter
Scottsdale, AZ - January 15, 2015 - InvestorsHub NewsWire -
Lithium Exploration Group Inc. (OTCPINK:
LEXG) CEO Alex Walsh discusses ongoing business activity in his
January newsletter:
Dear Shareholders:
As we move into 2015, our focus is squarely back on the
development of the technology on which we have been working for the
past four years. We are ready to ship the oil treatment unit
from Houston any day now, and, with the approval of our partners at
SonCav, will be posting pictures of the unit shipping and arriving
at Tero on our website for all of you to see. We hope to
initiate testing at Tero this month and to continue that testing of
various oil types through the first quarter to gather operational
data from its performance.
We are still in discussions with various financial and strategic
partners for the Morinville facility. As stated last month,
we had hoped that we would be in a position to raise the
development capital for the project, but we need to keep our
capital focused on the cash flow at Tero and the commercialization
of the ultrasonic technology.
Morinville continues to operate under its Class II designation --
taking produced water from a number of customers in the area and
selling the skim oil that comes from that production. While
we thought we would be further along by now in the facility’s
expansion, our team has done an amazing job in bringing the well
back to life over the last year and making it a viable competitor
in the region. The facility will continue to operate ‘as is’
while we look at options on financing the expansion plans that we
have been working on for the past six months.
We were set to close on the financing to acquire an additional 25%
of Tero Oilfield Services in December, but the investor that was in
place to complete the financing was unable to fund the
investment. The option that we have to purchase the
additional 25% does not expire until the end of February, so we are
exploring other financing sources to complete the
transaction. This has no impact on our commitment to the
future success of Tero or to our partnership with their team.
I had a conversation with the CEO of a company in Texas earlier
this week that I found very interesting. This is an oil
services company very similar to ours, in that they started by
developing a technology that had applications in oil
services. They then bought their first service company as a
way to assist in the deployment of that technology. They now
have multiple technologies that they have brought to market and
three divisions of their service business and are projecting to do
over 50MM in revenue in 2015. They are the company that we
are trying to become over the next few years, and the growth
opportunity will be spearheaded by the ultrasonic technology.
We are bringing a technology to market that will revolutionize the
way that oil is treated in the field prior to being sent to the
pipeline, and we have an existing footprint to test, market, and
deploy this technology all over Canada through our partnership with
the guys at SonCav and their team in Texas.
It has been a long few months, retiring the debt from the Tero
acquisition and getting the oil unit ready for shipment -- but we
are finally here and are extremely excited for what this year will
bring to the company, our partners, and our
shareholders.
Sincerely,
Alex Walsh
CEO
Lithium Exploration Group
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 OTCQB 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