Lithium Exploration Group CEO Distributes May 2016
Newsletter
May 13, 2016 -- Phoenix, AZ -- InvestorsHub NewsWire -- Lithium
Exploration Group Inc. (OTCPINK:
LEXG) CEO Alex Walsh updates shareholders on company
activities.
Dear Shareholders,
We have spent the past month getting prepared for testing of the
oil unit but I think it is an appropriate time to bring everyone up
to speed on where we are and what we are trying to accomplish this
summer.
Oil Unit:
We have had the generator and motor mounted and delivered to a
testing facility outside of Houston, TX. The folks there are
finalizing a testing vessel that meets our needs and over the next
few weeks will complete the piping to ready the oil unit for
testing. Our goal is to be able to test it at the assembly facility
with different crude oil inputs to gather performance data. After
that round of tests is completed, we hope to be able to move the
unit to the field for onsite testing.
We have built a thesis around the ability to upgrade field oil
to pipeline specifications, eliminating the need for chemical or
outside heat. The secondary benefit of the reaction that takes
place in the generator is that it will break down the crude oil,
cracking the hydrocarbon chain and making it more valuable when
sold to the refinery. We intend to have an independent engineering
firm validate all of the testing variables which we will be able to
share with the public as we get ready for commercial
deployment.
The exact sales model is still to be determined, but it will be
put in place at the direction of our partners at Sonic Cavitation
once we have all of the data inputs.
Water Unit:
The water unit is also being prepared for onsite testing at a
facility that presently treats various waste-water streams outside
of Houston, TX. The Sonic Cavitation team is working hand-in-hand
with this company to test the water units capabilities as part of
their water treatment process. We will continue to update you on
that progress through the summer.
Oil Assets:
As I announced last week we have identified what we believe to be
an outstanding investment in an oil field. It will allow us to not
only collect revenue from the existing production, but will also be
somewhere that we can field test the oil unit on production that we
control.
Additional Opportunities:
We have explored a few different opportunities to add to our
efforts at
LEXG. Some of them are chemical companies that need access to
the Canadian and US markets where we are well connected and others
are emerging oilfield technologies. We have not done anything to
date but, given our extensive knowledge of the industry and
distribution capabilities, we will continue to explore all
opportunities that can lead to revenue and enhance LEXGs ability to
generate profits.
I am headed to Houston next week and should have a good handle
on progress by the time I get back. As always, I appreciate your
patience and support in all of our efforts.
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