LITHIUM EXPLORATION GROUP IN DISCUSSIONS TO RESTRUCTURE ALL CONVERTIBLE DEB
September 04 2017 - 3:30PM
InvestorsHub NewsWire
Lithium Exploration Group in Discussions to Restructure
All Convertible Debt
Phoenix, AZ - August 4, 2017 - InvestorsHub NewsWire - Lithium
Exploration Group Inc. (USOTC:
LEXG) announced today that it has entered into discussions with
two major debt holders to restructure all of their convertible
notes to less dilutive terms.
"I just had a conference call with our new debt holder and the
other remaining debt holder about restructuring all of their
outstanding debt to reduce the dilution to the LEXG security,"
commented Alex Walsh. "They are both remaining out of the market
until there is a resolution found and both are in agreement that
refinancing the existing debt today makes sense because the company
is in a better position than it has been. Ultimately we want to be
in a position to secure more traditional forms of financing at
better terms and this should be a great first step."
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 the Sonic
Cavitation Ltd. technology and the acquisition of oil and gas
related assets in the US and 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