Lithium Exploration Group CEO Distributes December 2016 Letter to
Shareholders
December 20, 2016 -- InvestorsHub NewsWire -- Phoenix, AZ /
Lithium Exploration Group Inc. (OTCPINK:
LEXG) CEO Alex Walsh updates shareholders on company
activities.
Dear Shareholders,
Our testing last week in Texas went well. This was the fourth
testing trip since we began this process in August, and the unit
continues to operate without mechanical failure. We had our
third-party engineering firm on site to collect operating data, as
well as collect their own samples for testing. We also had a
representative on site from a local university who took samples and
gathered his own operating data. Both groups were impressed with
the operations and have been very helpful in identifying additional
industry applications for the Oil Unit.
We expect to have both of these reports in hand by the end of
the month. My hope is to be able to post portions of these reports
on our website for public consumption, but we still need to discuss
this with our partners at Sonic Cavitation Ltd. Once we have had a
chance to look at the reports and decide what needs to be kept
confidential as trade secrets, we will be able to make a
determination. Regardless of how much information we are able to
share with the public, these engineering reports will be very
helpful in building relationships with potential customers and
other efforts to raise capital to further the commercialization
efforts.
Our efforts now are going to be directed towards customer
acquisition in Q1. We have a very good handle on how the unit will
perform and have identified multiple field applications that are
much needed in the marketplace:
- Separator Package: This unit has the capabilities to be set up
at a small tank battery to assist in separating the oil, water, and
gas that comes out of the ground from an oil well.
- Separating oil from water and gas is a critical step in all oil
and gas operations. The unit, as designed, can assist in doing that
while providing a small footprint and running on electricity.
Almost all units used in the field today use a form of
natural-gas-fired boiler to heat and separate oil.
- Tank Heating and Circulation: This unit can plug into an
existing tank farm to assist in heating the oil and circulating it
before it is shipped.
- Circulation and heating are critical to reduce residue buildup
in tanks from heavier oils and oil that contains high levels of
paraffin. Today, natural gas boilers and large centrifuges are used
to perform this activity while the Oil Unit will perform the
function of both.
There is a common theme in all of our near term efforts to
penetrate the marketplace: electrical power consumption and zero
emissions. The days of burning endless amounts of natural gas to
operate plants in the oil patch are coming to an end. This
technology, by harnessing a naturally occurring cavitation and
ultrasonic soundwaves, is well on its way to disrupting
long-standing norms in the industry. The largest oil and gas
companies on earth are constantly looking for ways to reduce their
carbon footprint because, regardless of President-Elect Trumps
plans with the EPA, they operate global businesses and must abide
by each countrys environmental standards. The rights that our
company possesses to this technology are in Canada, and Canadian
environmental regulations are extremely focused on these types of
zero emissions efforts.
The first step of our process has been accomplished. We have
shown that, with the minimal electrical usage of running a 150HP
motor, we can heat oil well in excess of 300 degrees Fahrenheit.
The next step is to work with end users to identify the acute
problems that this technology can solve and start deploying units
to work on those issues.
Happy Holidays from LEXG!
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 testing its SonCav Technology and the
acquisition of oil and gas related assets in Western Canada.
Lithium Exploration Group is traded on the OTCPINK 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