$LEXG LITHIUM EXPLORATION GROUP CEO DISTRIBUTES MAY 2016 NEWSLETTER
Source: InvestorsHub NewsWire
Lithium Exploration Group CEO Distributes May 2016 Newsletter
Phoenix, AZ -- June 21, 2016 -- InvestorsHub NewsWire -- Lithium Exploration Group Inc. (OTCPINK: LEXG) CEO Alex Walsh updates shareholders on company activities.
Dear Shareholders,
I announced last month that we had identified an opportunity to invest in drilling two wells on a preexisting oil field. I have spent the better part of last month working on ways to finance the package, and I am happy to announce that we have agreed in principal on the terms of the agreement with the various parties involved. We are finalizing the due diligence on the oil property and we will be filing an 8k with all of the final documents in the coming days.
This is an exciting opportunity for the company and our shareholders because we will be investing in an asset that will generate cash flow to the company to sustain our day-to-day operations while we continue to work on commercializing the technology units with our partners at Sonic Cavitation. There is a natural benefit to buying into an oil and gas asset at todays depressed prices and participating in the long-term appreciation of the asset. It also gives us access to an asset where we can field test the oil unit.
Today we uploaded some pictures of the skid and vessel that were built to test the oil unit outside of Houston, Texas. The piping process has begun and we expect to be able to initiate testing on the unit shortly after July 4th. Initial testing will be done on the site where it is being assembled. They have all of the necessary equipment and power needed, and we will be using various oil feedstock from the surrounding area.
Our intent is to have an independent review of the process for both the input oil, output oil, power consumption, and other pertinent variables that we can share with potential future customers. We will also obviously be sharing data with the public to show what we are doing and point to addressable markets and business strategies moving forward.
We are very excited to be moving on both of these initiatives at the same time and look forward to providing weekly updates on all fronts.
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 on its Western Canada lithium assets, testing its Ultrasonic Generator Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is a fully reporting company 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
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