LITHIUM EXPLORATION GROUP CEO DISCUSSES ONGOING OPERATIONS AND STRATEGY IN FEBRUARY LETTER TO SHAREHOLDERS
February 05 2018 - 9:38AM
InvestorsHub NewsWire
Phoenix, AZ -- February 5, 2018 -- InvestorsHub NewsWire --
Lithium Exploration Group Inc. (
OTCPINK: LEXG) CEO Alex Walsh
updates shareholders on company activities.
Dear Shareholders,
We continue to finalize some of the transitions that I laid out in
last month’s update. In this letter I will be discussing a
few specific items that follow this trend, and hope that this
provides some helpful information as you follow our
progress.
Blockchain and Cryptocurrency: After months of research, we have
engaged in strategic discussions with a blockchain expert and feel
that there is a much-needed commercial application for blockchain
technology in the oil and gas industry. Our present strategy
is to build an operational execution strategy to facilitate a
transparent digital ledger for oil and gas assets. Parallel
to that strategy, we will attempt to structure a capital raise that
will facilitate buying a set of specific assets, then tagging them
to this strategy and growing from that point. I am not sure
if it will involve an issuance of stock, tokens, or scheduled
dividends, but that will be evaluated and decided on in the next
four to six weeks. At present, we do not see the
cryptocurrency applications of blockchain as something that fits
our strategy, but we are very bullish on developing some
intellectual property and assets centering around blockchain
technologies.
Lithium Technologies: We announced in January a strategy that we
have long been discussing which centers around a strategic
partnership with the management team from Alternet Systems
(
USOTC: ALYI). This
relationship is still very much in process, but the goal is to
finalize agreements to partner with them on the sales and
distribution of the SonCav technology in the lithium
industry. We feel that Alternet Systems has a great presence
and set of connections in the industry and we see it as a benefit
for our shareholders to have them lead the charge. I expect
to have a deal finalized in principal on the go-forward plan with
SonCav’s approval by the end of February.
We have elected this month not to pursue the final acquisition of a
set of lithium battery patents for sale by a Korean inventor.
The decision really was made on the basis of a lack bandwidth today
to commercialize those patents adequately. Depending on how
things progress with ALYI that could change at some point in the
future.
Oil and Gas Projects: The seismic data at the White Top field is
almost complete and right now the management team is finalizing the
closing docs to complete the acquisition towards the end of
February, with development drilling to begin in March. Our
override on the field will begin immediately after the acquisition
is complete. This override is a critical foundation for our
efforts this year to generate positive cash flow and expand our oil
and gas holdings.
By the end of the first quarter of this year, all of our day-to-day
business operations will be focused on the continued development of
oil and gas technologies and assets. We have been indirectly
tied to the oil and gas industry since our inception and we believe
that we are well positioned for long-term success.
Sincerely,
Alex Walsh
CEO
Lithium Exploration Group
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. 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