Lithium Exploration Group Enters $2.6B Consumer Battery Market
Through Purchase Agreement for AA Lithium Battery Patents
Phoenix, AZ -- October 31, 2017 -- InvestorsHub NewsWire -- Lithium
Exploration Group Inc. (USOTC: LEXG) announced today
that it has entered into a purchase agreement to acquire a series
of lithium patents for the retail consumer. The core US patent
being acquired is number 9,444,087, which provides two- and
four-pack AA size lithium batteries with a charging pack that can
replace many day-to-day applications of traditional alkaline
battery uses. These patents were developed in South Korea, have
already completed the testing phase, and have established
manufacturing capabilities in China. LEXG intends to partner with
the inventor in the coming months and take this product directly to
consumers in 2018.
"This portfolio represents the classic story of an inventor who
got his technology close to the finish line and ran out of funds.
We have done a lot of due diligence on the patents and feel that,
with the right financial partner in the US, his batteries could be
selling online in less than six months," commented CEO Alex Walsh.
"As one of the longest standing names in the lithium,
petro-lithium, and lithium technology industry, we will use all of
our connections and capabilities to get this outstanding invention
to market next year. Ultimately this is a very small expense for
tremendous upside if we can bring the right financial and strategic
partners to the table. We have a very talented inventor who will
stay on board and a great foundation of patents to work with."
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