Lithium Exploration Group CEO Distributes November 2015
Newsletter
Phoenix, AZ -- November 2, 2015 -- InvestorsHub NewsWire --
Lithium Exploration Group Inc. (OTCPINK:
LEXG) CEO Alex Walsh updates shareholders on company
activities.
Dear Shareholders,
It has been a few months since I sent an update on the companys
endeavors. We have been extremely busy completing our annual audit,
which should be filed in the next few days. We continue to be
focused on the testing and deployment of the ultrasonic technology
units, but have several other business initiatives that we hope to
be able to tether into that business in the future. I hope this
update gives you a good idea of our current situation, and more
information on all fronts will be released as it becomes
available.
The oil and water units have been waiting for the past few
months for upgraded parts to arrive from Europe. Unfortunately
these parts took a lot longer to get from the manufacturer than
initially expected, but I am happy to announce that they have
arrived in Houston at the facility, where both units are located,
and the reassembly is underway. We are now able to continue with
our planning and schedules to get the oil unit ready for
field-testing.
Our partners at SonCav also have recently made a change in their
management team, inserting a new CEO to ensure that things stay on
track with all of their business initiatives. We have been working
collaboratively with the new management on testing strategies for
both the oil and water units. We are extremely happy with the way
that their team is set up, and have a stronger relationship with
them now than we have in years.
Over the past few months, we have also been in discussions with
a US-based chemical company with a unique product, which we believe
has great potential for application in the Canadian oil and gas
markets. We will be testing it at sites with some of our contacts
in Alberta and are exploring a distribution partnership with them.
We have been actively working with oil and gas operators in many
capacities over the past few years and are well-positioned to
assist in bringing products and technologies to the Canadian
markets.
We also continue to explore opportunistic oil and gas deals in
Western Canada. We dont have funding in place presently to execute,
but as we initiate testing of the oil unit, we want to be ready to
act quickly on buying distressed assets at a fraction of what they
were worth only 18 months ago.
With the successful testing of the water and oil units over the
summer we have initiated discussions with financial partners who
could come in and recap all of our debt, assist in purchasing oil
and gas assets, and bring significant industry expertise to the
company. This would give a huge lift to the company and the value
that we are trying to create for the future.
It has been a long few months of strategy, planning, and
capacity building, but we are finally in a position in which we no
longer have to wait on vendors and can move forward
expeditiously.
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