Lithium Exploration Group Announces Initial Closing at White Top Project
February 14 2018 - 1:02PM
InvestorsHub NewsWire
Lithium Exploration
Group Announces Initial Closing at White Top
Project
Phoenix, AZ
-- February
14,
2018 -- InvestorsHub NewsWire
-- Lithium Exploration
Group (USOTC:
LEXG) announced today that
its partners in the
White Top project have completed the documentation and initial
investment from their new financial partner. The initial investment
will cover the expenses associated with the drilling of the first
few target wells and expenses associated with preparing the
acquisition
of the field
(environmental review, purchase agreement, etc.). The permitting and AFE process for the first
few drilling locations will begin immediately and the entire
transaction should be completed in the next 60
days.
"I am very
excited to bring you all this news. It has been a very smooth
process working with the new financial partners, but it has taken a long time to
get all of the agreements in place. The new partners are obviously
bringing money to the project but, most
importantly, they have substantial oil and
gas exploration experience and some of their own team members are
going to take full time roles at the White Top field through the
initial phase of drilling," commented CEO Alex Walsh.
"This should
be a very exciting project and, ultimately, our projections put us
cash-flow-positive by the end of
2018,
ensuring
that we will
continue on as a "going concern" for the next decade."
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