LEXG - Lithium Exploration Group Combines Lithium Battery and Oil Field Developments Into One Big Shareholder ROI Opportunity
May 09 2017 - 9:00AM
InvestorsHub NewsWire
Tempe, AZ - May 9, 2017 -
InvestorsHub NewsWire - Lithium Exploration Group Inc.
(OTCPINK: LEXG) today released a letter to shareholders from CEO
Alex Walsh with the latest updates on the Company’s two tiered
approach to build Lithium Battery market share and Oil Field market
share from one proprietary technology. LEXG’s SonCav brings
dramatic efficiencies to both the development of Lithium Batteries
and the refinement of Oil. LEXG has developed a plan that
capitalizes on bringing shareholders the potential of two ROI
opportunities from just one technology investment. Read the
CEO’s latest updates below.
Dear Shareholders –
Over the past month, we have made a lot of moves and taken a number
of forward steps for the Company. I want to use this update
as a way of bringing all of our business strategies together in one
place.
Oil and Gas Joint Development
Agreement:
We have entered into a joint development agreement with a team in
Houston and are days away from funding the first major installment
which will trigger a 12 month development and purchase agreement
with the seller of a significant oil project in Southwest
Louisiana. This partnership will take place with the same
team in Houston that has been working with us to source oil for our
testing and has agreed to take our first field unit at one of their
facilities as the first commercial customer. They believe
strongly in the SonCav Oil Unit being a game changing technology
and have invited us to partner with them on this particular project
because of that belief in what we may be able to accomplish.
Continued Testing and Technology Development:
We have initiated a skid system design that will be housed in a
container, meet all energy industry specifications, have remote
operation and monitoring capabilities and be deployed in the field
as an initial commercial unit, while also serving as a sales
presentation unit for all deployments in the America’s.
In collaboration with our partners at Sonic Cavitation, Ltd. we
have decided to continue testing in Houston through the development
process specific to the water treatment application. We both
feel that the oil and water can run parallel paths to
commercialization and don’t want to waste the equipment we have,
nor the valuable time. The testing should resume just after
Memorial Day and will be primarily focused on the organic material
degradation that is occurring within the Ultrasonic Generator
system. This testing effort will be a collaboration between
ourselves, Sonic Cavitation, Ltd, with the data collection and
testing being performed by a team from Texas A&M Corpus
Christi.
Lithium Technology Aggregator Engagement:
I met last week with the CEO of the lithium technology aggregator
we’ve been working with since the first of the year, and we
continue to find a great deal of excitement on the potential of
working with them in the future. They are in the final stages
of acquiring a significant patent portfolio and look at the Sonic
Cavitation, Ltd. technology as a great second piece to take
forward. They are well funded and very motivated to move
aggressively in the lithium space and we feel they would be great
partners for us.
We have so many plans for commercialization of this technology, and
for the lithium market and beyond. The final details still
need to be worked out, but may involve an ownership stake in their
company going forward which would be passed on to our
shareholders.
There will be a lot more to be said about all of these subjects and
topics, all of which have huge potential. I look forward to
providing updates and deeper details in the coming weeks and months
which should be pretty exciting.
Sincerely,
Alex Walsh
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 developing the SonCav Technology and the acquisition of oil
and gas related assets. 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