LEXG - Lithium Exploration Group Enters Negotiations to Solidify Strategic Lithium Partnership
October 23 2017 - 9:46AM
InvestorsHub NewsWire
Phoenix, AZ – October 23,
2017 -- Lithium Exploration Group, Inc. (USOTC:
LEXG) today announced reengaging with Lithium IP Holdings to
discuss a business partnership in which Lithium IP Holdings would
have access to the Sonic Cavitation technology while LEXG
shareholders would benefit from Lithium IP Holdings’ portfolio of
patented lithium battery technologies.
LEXG originally engaged with Lithium IP Holdings earlier this year,
forging a strategic alliance to bring a comprehensive lithium
energy solution to market. Discussions were delayed when
Lithium IP Holdings elected to merge with a public company called
Alternet Systems (USOTC:
ALYI). The combined entity under ALYI has secured a
portfolio of patented lithium battery technologies and has enhanced
the potential of this strategic partnership between LEXG and
Lithium IP Holdings. LEXG and Lithium IP Holdings both agree
that these and other updates to Lithium IP Holdings are cause for
revisiting the objectives of the relationship between the two
companies and building a new business partnership.
“The patent portfolio held by Lithium IP is one that I feel could
be a great foundation and blueprint for the development and
monetization of lithium patents and other intellectual property,”
commented CEO Alex Walsh. “We had a number of discussions in
Q1 of this year, and I am glad that they have been able to complete
their acquisition so we can continue discussions about a strategic
alliance. I believe strongly that their management team can
be a significant asset to the deployment and proliferation of the
lithium specific applications for the SonCav technology.”
To learn more about Lithium IP’s portfolio of lithium battery
technologies, see the report on the technologies commissioned by
LEXG in February of this year by advanced battery technology
industry expert Eric R. Dix of Innovation Associates:
”U.S. Patented Lithium Battery
Portfolio Technology Report”
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 on 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
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