LEXG To Introduce New Lithium Battery Technology To End Fires And Explosions Like Headset Yesterday On Flight To Melbourne
March 16 2017 - 10:49AM
InvestorsHub NewsWire
Tempe, AZ -- March 16,
2017 -- InvestorsHub NewsWire -- Lithium Exploration Group Inc.
(USOTC:
LEXG) today announced that the company has a solution
in the works that would put an end to the lithium battery fires
made famous by the Galaxy 7 and reiterated in yesterday’s headset
explosion on a flight from Beijing to Melbourne. The
technology is part of a portfolio of patented lithium related
technologies to be acquired as part of an overall, comprehensive
lithium solution. LEXG announced entering into a $1.2 million
contract earlier this year to provide access to is Sonic Cavitation
Technology as part of a full spectrum lithium solution
ranging from exploration and mining to battery production.
The patent portfolio acquisition is now pending legal review and
finalization, having been through an intensive technology
review.
“It is exciting that the acquisition of the portfolio we have
reviewed is almost final. That piece is critical to the next
steps in finalizing the licensing contract that we have been
discussing for months,” commented CEO Alex Walsh. “With the
addition of the energy storage technology that we are working on
from our end we are in advanced discussions with the IP acquisition
partner about an expansion of the original $1.2M contract into a
potential JV with our shareholders. We should have a lot more
color on this by middle of next week and will update shareholders
as details come to fruition.”
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.com