Lithium Exploration Group
Distributes November 2017 Letter to Shareholders
November 7, 2017 -- Phoenix, AZ /
Lithium Exploration Group Inc. (OTCPINK: LEXG) CEO Alex Walsh
updates shareholders on company activities.
Dear Shareholders,
We have had a relatively exciting start to the 4th quarter of the
calendar year.
- Our offer to purchase a series of lithium battery patents was
accepted by the seller's representatives and we are moving forward
on next steps of evaluating that market opportunity.
- SonCav is in the final stages of preparation to initiate
customer demonstrations of their ultrasonic technology for water
applications.
- We are very close to completing the raise at White Top that
will initiate the initial drilling program in Louisiana.
We mentioned the Korean patent portfolio in September when we
were introduced to the inventor and his company. They are very
excited to work with a US based partner that can bring the next
phase of development and strategy to their product and we are
excited to have a partner that is well versed in Chinese
manufacturing and technology development. At this stage our plan is
to establish a subsidiary entity to hold these patents and partner
with the inventor to finalize the commercialization strategy and go
to market. Any significant dollars needed will be raised privately
through the subsidiary and will be accretive value to our parent
company. While it is still very early in the relationship we are
excited about what we have seen and the prospects to enter the
battery market next year.
Testing of the SonCav oil unit was completed last spring and
garnered significant performance data that we have posted to our
website for you all to review. We have been making efforts to
connect with potential customers for future sales and in parallel
SonCav has been preparing to showcase their water unit to potential
customers and investors. This process is set to begin in the near
future which will not only go a long way to gathering performance
data on the water capabilities but will also assist in raising
future development dollars so that they can put commercial oil and
water units in the field next year. They have been working
tirelessly to get to this stage and we are their biggest
cheerleaders and supporters in their efforts.
The White Top capital raise to initiate drilling has been slow
going in the past few months which is really due to the size and
scope of the project. It is a small dollar amount to raise and it
has been very difficult for our partners to cobble together in
small chunks. They have been meeting with multiple investment
groups in the past 8 weeks and hope to have one finalized soon.
While we do not have any obligation to participate in the drilling
efforts we have begun discussions with a number of outside parties
about utilizing our private subsidiary Black Box Energy as a
vehicle to bring in dollars to drill a few wells outside of the
public entity.
You will notice this is a recurring theme in our strategy and
that is for good reason. We have established three clear paths for
the company - technology development, SonCav unit
distribution/sales, and oil and gas asset acquisition/investment.
While the parent LEXG has raised funds to support all of these
efforts to date our intent is to use the base of the private
subsidiaries to grow their value which will in turn benefit the
parent entity long term so that we can continue to clean up our
balance sheet and move the company forward in the years to
come.
We have really turned a corner in the past 6 months and I
sincerely appreciate all of your letters and feedback on all of our
efforts.
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