Lithium Exploration Group Announces $1.2M Sales Contract
Negotiation As New York Times Reports On 3 California Utilities
Lithium Ion Battery Storage Facilities
Phoenix, AZ - January 12, 2017 - InvestorsHub NewsWire - Lithium
Exploration Group Inc. (USOTC: LEXG) today announced that the
Company is engaged in a negotiation that could lead to a $1.2
million contract for access to LEXGs Sonic Cavitation Ltd lithium
harvesting technology. The subject contract is designed to lead to
even further sales of LEXGs Sonic Cavitation Ltd lithium harvesting
technology. The prospective customer is an integrator of lithium
technology, service, and resource providers. The
integrator/customer is assembling a coalition of lithium
technology, service and resource providers with the intent of
taking the coalition to market under a single, unified banner
offering a comprehensive service delivering usable lithium ready
for battery production. The integrator/customers success in
securing turnkey lithium contracts, would in turn result in
additional revenue for LEXG. The integrator/customer would pay LEXG
an estimated $1.2 million for initial access to the Sonic
Cavitation Ltd harvesting technology with further payments to
follow when the integrator/customer successfully secures turnkey
lithium contracts.
Coalition Service Enhancement Through Patented Lithium
Technology
In addition to assembling this coalition, the
integrator/customer is presently engaged in the acquisition of
multiple lithium patents expected to enhance the specific processes
of the coalitions combined capabilities. LEXG is exploring the
prospect of making an equity investment in the integrator/customer
company.
New York Times Lithium Feature
Article On 3 California Electric Utility Lithium Plants
https://mobile.nytimes.com/2017/01/14/business/energy-environment/california-big-batteries-as-power-plants.html?_r=0&referer=https://www.google.com/
Timed to coincide with Teslas (NASDAQ: TSLA) opening of its
Lithium Gigafactory, LEXG published a comprehensive
online presentation detailing the Companys capacity to improve
the efficiency of extracting lithium from brine. Todays release
coincides with another major lithium industry event demonstrating
the exploding demand for lithium. A just released New York Times feature article
details the history and future of lithium ion battery facilities
integrated into public utility electric grids. Specifically, the
article reports on the near completion of three major electric
storage facilities consisting of lithium ion battery arrays about
to come online in California.
The contract under negotiation is intended to shape the Companys
future as a lithium harvesting technology service provider. In 2012
we developed a proprietary mineral processing technique to
transform lithium chloride brine into lithium carbonate. With this
contract we intend to integrate that technique with the Sonic
Cavitation technology to exploit the upstream application of
lithium production by licensing it to various groups that would use
these applications for their own projects, commented CEO Alex
Walsh. This chain of technologies, services and mineral resources
is required to ultimately produce usable lithium as an end-product
ready to be built into a rechargeable battery and we want to be a
cog in many wheels. No single company can produce a lithium Ion
battery without integrating the capabilities of multiple, discrete
technology, service and resource providers. We are working with the
customer and with our partners at Sonic Cavitation Ltd on details
of the agreements.
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 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.commailto:info@lithiumexplorationgroup.com