$ALYI$ UPDATE:
LITHIUM EXPLORATION GROUP CONFIRMS STRATEGIC INITIATIVE WITH ALTERNET SYSTEMS
Lithium Exploration Group Confirms Strategic Initiative with Alternet Systems
Phoenix, AZ -- January 18, 2018 -- InvestorsHub NewsWire -- Lithium Exploration Group (USOTC: LEXGD) announced today that it has entered into an LOI with Alternet Systems (USOTC: ALYI) to sell contractual distribution rights to the SonCav technology. The parties have been in discussions about the forging of this new relationship for many months, and have now entered into an LOI that would take Lithium Exploration Group shareholders (with the leadership of the Alternet Systems team) into a new company that will focus solely on the distribution and sales of the SonCav technology. The agreement is subject to finalization of definitive agreements between Lithium Exploration Group and Alternet Systems and approval by SonCav.
“The SonCav technology has transitioned in the past year from development to commercialization, and our role in that commercialization is to distribute and sell units for applications that solve commercial needs. The SonCav team is well positioned to commercialize their technology domestically and abroad. The team at ALYI is top shelf and they have a laser focus on lithium and connections that go far beyond those that we have here at LEXG, which is a major reason for this move,” commented CEO Alex Walsh. “Ultimately we want to ensure that our shareholders extract the most value from being on the ground floor of this amazing technology. This is a great opportunity for us to join forces and allow our shareholders to have interest in two separate companies instead of interest in one company with two lines of business.”
