Lithium
Exploration Group CEO Discusses Ongoing Operations and Strategy in
March Letter to Shareholders
Phoenix, AZ -- March 6,
2018 -- InvestorsHub NewsWire -- Lithium Exploration Group Inc.
(OTCPINK:
LEXG) CEO Alex Walsh updates shareholders on company
activities.
Dear
Shareholders,
It has been an exciting
beginning to the year -- with the completion of the seismic project
at White Top and, finally, having a tangible view towards revenue
generation that has been a long time in the works. Below I have
outlined some of the things we are trying to accomplish as we close
out Q1 and our goals for Q2.
In April, we will be
rebranding our company under the Black Box name. This name and
ticker change is largely cosmetic but I feel it is important for a
complete understanding of what we have become and where we are
going. We will have three subsidiary entities: Black Box Energy,
Black Box Blockchain, and Black Box Technologies. These three
subsidiaries will hold the contracts, assets, and intellectual
property that we are developing in each of the three business
verticals on which we are presently focused. I think that it will
give everyone a much clearer picture of the go-forward
plan
They continue to
work on a large commercial order for the Water Unit and on a final
commercial design for the Oil Unit that would be ready to go into
the field immediately. team and we have all agreed that this
is not the right time to complicate that relationship.SonCav At the
end of the day, we have spent a better part of seven years building
a strong working relationship with the to not finalize any
strategic partnership with the team at ALYI.SonCavWe have elected
after discussions with our partners at Technology Update:
SonCav
As you may recall, last
summer we have been focusing all of our efforts on sales and
distribution of the technology in Canada. The next big step for
that sales effort is to have a field unit in place as a "showroom"
of sorts so that clients can see and touch as they are making
decisions about purchasing a unit for their own operations. We have
been waiting to finalize the White Top acquisition and start to put
ourselves on more solid ground financially, but are still very
interested in being the purchaser of the first commercial Oil Unit,
which will also significantly help our sales
efforts.
Blockchain: We have had
some great conversations with folks across the oil and gas industry
about our blockchain initiative. We feel strongly that smart
contracts and digital ledgers are the future of oil and gas asset
tracking, and we plan to devote resources to this project in the
coming months. This project will start in the US and Canada, but as
the intellectual property we develop evolves, it may extend to
Europe and Asia.
White Top: As we discussed
last week, the closing is in process and we are all very excited
for the drilling program to begin in April or May. The royalty from
the field today is very modest but we made the strategic investment
based on the team's expertise in finding recoverable oil in on
shore shallow opportunities. The royalty revenue will increase
significantly as each well comes online.
I look forward to next
month's update and hope that oil continues to hold the $60 number
as that update comes out.
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