LITHIUM EXPLORATION GROUP FILES FOR ENTRY OF JUDGEMENT AGAINST PARTNER IN PENNSYLVANIA OIL PROJECT
August 10 2017 - 9:00AM
InvestorsHub NewsWire
Phoenix, AZ – August
10, 2017 -- InvestorsHub NewsWire -- Lithium Exploration Group Inc.
(USOTC: LEXG) announced today that on July 14,
2017 it moved for entry of default against PetroChase, Inc and
Warren County PC #1, LLC. Default became effective on July
31, 2017. Today the company will file an entry of the
judgement with the court and expects the judgement to become
effective in the next few weeks. Upon entry of the judgement
the company will take steps to recover the investment.
“We certainly would have
preferred to see the well drilled as planned on this project in
Pennsylvania but due to the lack of momentum from PetroChase we are
simply going to have to go about recovering our investment and
moving on,” commented CEO Alex Walsh.
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