Lithium Exploration Group Inc. (fka LEXG)

[TraderTrisha]

LEXG Announces New Relationship With Inventor and Patent Owner

SCOTTSDALE, Ariz., Sept. 4, 2012 /PRNewswire/ -- Given pending litigation against Glottech USA LLC, and the uncertainties naturally inherent of any litigation (particularly as to outcome and timing thereof), Lithium Exploration Group (LEXG.OB) (LEXG.OB) has moved to assure continuity of its licensing rights through entering into, and exercising, an option to contract directly with the technology inventor and patent owner, GD Glottech International Ltd.

Thus regardless of the outcome of the litigation, or indeed any action or inaction of Glottech USA, Lithium Exploration Group's interest in the technology is assured. As the fate of the current prototype is dependent upon the litigation, development of the next-generation prototype will begin shortly under the direction of the technology inventor.

"Our goal has always been to have more than one unit at our Valleyview Project in Alberta. This new relationship with GD Glottech International means that we can begin building the second unit and having a direct relationship with the inventor truly puts us in control of our own destiny," commented CEO Alex Walsh. "We have a devoted group of shareholders that understand the vision of where we are headed and deserve results, not further delays."

http://finance.yahoo.com/news/lithium-exploration-group-announces-relationship-164200985.html